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How to start and scale an e-commerce business in 2023

We are in the final lap of 2022 and look forward to a brand new year.

If you’re thinking about starting an e-commerce business, now may be a perfect time. But how do you know where to start? I’ve got your back.

Here are 10 great ideas for e-commerce businesses in 2023.

Dropshipping store

Dropshipping is an e-commerce business model wherein entrepreneurs do not need to hold the physical inventory of the products sold on their website or social marketplace. As a Dropshipper, you will work closely with a supplier, who will be responsible for procuring, packing, and shipping the products to your customers on your behalf.

Here’s how you can start your Dropshipping store from scratch.

Top Dropshipping niches to consider for 2023:

  • Coffee
  • Pet supplies
  • Gaming accessories
  • Baby products
  • Oxidised jewellery
  • Beauty products
  • Gifts for all occasions

Artisanal foods

This is a hot trend that’s only going to get hotter.

Unlike mainstream and mass-produced foods, they are made using traditional methods, often by hand, in limited quantities. Artisan food is crafted without ‘nasties’ — ingredients that include preservatives, colourants, or chemicals, which can make them a healthier alternative.

Artisanal products are also highly sought, and there is massive scope for growth.

The market for artisanal foods in Australia is worth over US$1 billion and is predicted to grow by 20 per cent per year in the next five years.

Consumers are looking for quality and transparency, and food is no exception. Start an online store selling locally sourced artisanal foods and beverages.

Print-on-demand store

Print-on-demand, or POD, is an order fulfilment method where designs are printed on items as soon as an order is received. While POD stores share many similarities with Dropshipping businesses, the vastness of the business requires it to be categorised separately.

You can start on-demand printing services without needing to hold any inventory in reserve. You don’t even need the printing machinery to start a POD store. Tie up with a fulfilment partner like Printful or Printify, and you are good to go.

Fashion or costume jewellery

This is another hot category that has a lot of potential. Shoulder dusters, drip earrings, sculptured silver, Hammered dangle earrings, Shells, crystals, and rhinestones are all popular jewellery items that have dazzled in Spring 2023.

Also Read: A walk through the growth of e-commerce in Singapore

Whether you want to start selling fashion or costume jewellery, if this is the market you’re looking for, then it’s worth considering starting an e-commerce business in 2023.

Natural organic products

Consumers have become more conscious about their life choices, and hence they have become increasingly interested in natural, organic products.

The market for natural organic products is expected to reach US$87 billion by 2024.

Start selling daily items for cleaning, beauty, and personal hygiene using clean and safe ingredients. If you like to formulate safe, organic cosmetics partnering with a private-label manufacturer is ideal.

Virtual assistant services

E-commerce business is not just limited to selling products and items, it also includes selling services.

Virtual personal assistant services help business owners, executives and entrepreneurs outsource their time-consuming tasks and responsibilities.

You can set up various services, including bookkeeping, email management, social media engagement, and more. These services can be especially helpful for small business owners who don’t have the resources or time to devote to these tasks themselves.

For busy entrepreneurs, you can also help with administrative tasks such as scheduling appointments, booking travel, and researching information.

Now, isn’t that a good idea?

Sell NFTs

NFTs or Non-fungible tokens can represent ownership of unique items such as art, collectibles, or even real estate. Simply put, NFTs are digital files that can be bought and sold online.

You can use your online store to sell your NFT projects under various categories:

  • Games
  • Concept arts
  • Videos
  • Music
  • Photos
  • Event tickets, and more…

Sell ebooks

Do you have a flair for spinning stories? eBooks cover a variety of categories, from non-fiction to fiction content. If you are a blogger and specialise in writing about gadgets and other tech products, you can curate all your helpful articles and self-publish an eBook that could prove beneficial for your readers.

eBooks can be published on giant publishing portals like Amazon’s kindle direct publishing, more commonly known as KDP, or you can sell the eBooks directly on your e-store as a downloadable product.

Meal delivery

You can start a meal delivery service without even creating a website. If you are selling home-cooked food, all you need is a direct channel like WhatsApp for businesses to receive orders from your customers and keep them informed about the delivery timeline.

Here are some ideas for meal delivery services to get you started:

  • Mid-night food delivery
  • Healthy meals delivery
  • Daily essentials delivery
  • Food delivery for pets
  • Meal kits or set meals

Wedding services

No. We are not asking you to play cupid. When we say wedding services, we mean bringing all vendors to your website or platform to provide a comprehensive wedding planning service.

From event planners, photographers to caterers, and decorators, you can bring all your local vendors under one roof.

Also Read: Why do most online stores fall flat and how you can improve it?

And there you have it! 10 viable e-commerce business ideas that you can start in 2023. Before you are on your way to starting your online business, think about how you can stand out from the millions of other e-commerce players.

Tips to scale your e-commerce store sustainably

Upgrade your digital experience

Customers don’t just land in a store, purchase an item and leave. They take their time, explore their options and find out everything they need to before adding an item to the cart. Take the opportunity to proactively engage with these shoppers and guide them through the buying process in your store.

Don’t rush the customers. Add a CTA button under the product description page to allow your customers to connect with product experts who could assist them over live chat, call, or even video call.

Tailor product pages to match customers’ needs

Improve product page experience to match your customers’ expectations from your store. Here are some tips for doing that:

  • Use high-quality product images, write descriptive information about your product, and allow your customers to see the product from all angles.
  • If possible, make use of AR or augmented reality and allow the customer to experience the product in their regular environment. For example, IKEA allows users to virtually place a true-to-scale 3D model of their furniture in their environment.
  • Provide real-time stock updates to your customers. If an item is out of stock, then place a ‘notify me’ CTA button to alert the customers when the product is back in stock.

Create a seamless omnichannel experience

Your customers are everywhere. Just updating your social media feed with daily promotional posts isn’t going to cut it. You also need to open the channels for dialogue to flow seamlessly between your customers and your business.

From Facebook Messenger and Live Chat on the website to providing self-assistance through IVR and the option to reach your customer support team over the call or video, you need to be equipped with the right CX solution to create opportunities for your business.

Personalise customer experience

Most businesses fail to make a personal connection with their customers as they adopt the town crier’s communication approach of carpet bombing their customers with announcements and promotions without opening the door for dialogue.

Your website may receive thousands of website visitors, but it is imperative for your business to create an individualised experience for every one of those visitors to stand a chance to retain their interest.

You can do this by engaging with your customers proactively, optimising their buying experience, providing real-time personalised communication through live chat, and offering additional discounts via pop-ups that get automatically triggered when a visitor decides to bounce or abandon the cart.

Final thoughts

You don’t need to be a millionaire to start an online venture. You can easily monetise your skills or work with third-party suppliers and vendors to fulfil on-demand orders and run a functional e-commerce store from the comfort of your home.

This leaves you more time to concentrate on your core competencies and create exceptional shopping experiences for your customers.

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