If you go back a decade from today, businesses were focused on conventional brick & mortar stores, and entrepreneurs had no idea that online business was a thing. Fast forward to the COVID-19 pandemic, these physical stores were compelled to close down.
In turn, the only option for these physical business owners was to switch to online business modules. Thus, businesses that were prepared to adapt to this business module shift thrived in the marketplace.
RODNAE / Pexels | The COVID-19 pandemic has proved that e-Commerce is the future of all businesses.
On the other hand, traditional business modules that stick with archaic brick & mortar stores lag behind the competition. One of the prime examples of a thriving online business is IKEA. According to the report from Statista, the giant home appliance manufacturer focused on online outlets and retail shops as the COVID-19 outbroke.
Consequently, IKEA had a staggering increase of 52% in its Year over Year (YoY) revenue. However, it is essential to note that IKEA already had online shops and retail outlets before the pandemic. In other words, the home appliance giant was strategically prepared to adapt to business module shifts - regardless of whether there was a pandemic.
Similarly, stats show that 72% of U.S.-based businesses went online in early 2020. Since this was the crying need of the day, customers enjoyed shopping from the comfort of their homes. In turn, this business shift turned out to be a win-win - both for business owners and customers.
Christina / Pexels | A report from Statista shows that 72% of businesses in the U.S. went online following the pandemic.
It is essential to note here that online shopping is not only convenient for businesses. Instead, it is reliable and effective for customers as well. After all, it is easy, accessible, and affordable in times like COVID lockdown.
That said, it is evident that online business - especially e-Commerce - is likely to be the future of all businesses. Like it or not, you will have to adapt to this business module if you are looking to thrive in the marketplace.
Here are e-Commerce sectors, AKA niches - that are growing in 2022 and are very likely to remain in the spotlight in the years to come:
Toys & Hobbies
Toys are the widely purchased stuff. Global sales forecast in the toys and hobbies sector is as much as $25 trillion. So, if you are looking to go online but unsure about the niche or sector, you have got our vote for toys and hobbies essential.
Andrea / Pexels | The toys and hobbies sector has projected revenue growth of 55% from 2020 to 2025.
Personal Care
Another essential e-Commerce niche that is on trend in 2022, and will remain in the spotlight in the years to come, is personal care stuff. There has always been a growing demand for personal care essentials.
According to a Gallup survey, 56% of U.S. consumers spend half of their income on personal care. So, it is worthwhile to go deep into the personal care sector.
Home Appliances, Kitchen, Patio, Lawn & Garden
Home appliances, kitchenware, and lawn & garden products also have a growing demand. Head over to this e-Commerce niche, and you will see an enormous room in this sector.
