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Ravi Morisetty: Top 5 Highly Profitable Ecommerce Business Ideas 2022
E-Commerce is a business trending at present due to the increased convenience that it provides to the customer. All the activities of commercial transactions which include transfers, Supply Chain Management, electronic marketing, EDI, and distribution of goods and services are integrated by an electronic system. These convenience and quick buying decisions make e-commerce businesses achieve scale much faster than their brick and mortar counterparts.
According to a survey done by the Indian Government in 2021 which shows that demand is at a continuous growth of 12.79 percent a year. Current active e-commerce penetration in India stands only 28 percent , with lots of room for improvement. India's retail e-commerce is projected to reach 23 percent from 2016 to 2021. If you are looking to start an eCommerce store then here are some business ideas by the top ecommerce researcher Ravi Morisetty which you should try out in 2022.
Top Ecommerce business ideas to pursue in 2022
Fashionable goods/services
With the growing demographics of urban dwellers who value time and convenience over money, people increasingly rely on an e-commerce website to fulfill their fashion needs.
There is a high demand for niche products and services, particularly in the fashion industry. This has resulted in the massive popularity of niche fashion websites, which provide their audiences with the latest trends. Even though the fashion industry is quite competitive, some people still struggle to find what they're looking for.
Creating high-quality brands that specialize in simple, minimalist clothing is one such niche that appeals to millennials and could be a lucrative business opportunity.
You can create your own ecommerce website using platforms such as WordPress, Wix, and others to get in the online business. According to Ravi Morisetty, Ecommerce is growing and there are a lot of opportunities ahead.
Online Grocery & Food Delivery Services
After 2021, one of the most lucrative markets is online food and grocery shopping. This market has continued to grow in size as mobile applications have grown in popularity and are now used by billions of people.
Given the breadth of its offerings and the size of its market, the food and grocery industry is far from saturated. People in urban areas are increasingly gravitating toward local produce and markets. As can be seen, consumer behavior is changing in the food industry as a result of emerging technologies and e-commerce trends.
As an entrepreneur, you can begin by selling locally sourced goods and produce. Once profits begin to grow, you can easily expand your business by establishing and improving relationships with vendors.
A survey conducted by Ravi Morisetty tells that India has a colossal food industry, ranking sixth in the world. Retail Startups account for approximately 70% of total revenue in this segment. The food and retail market, according to reports, will be worth $ 828.92 billion by 2023.
Travel Agency Enterprise
Many Millennials aspire to travel. Although the travel process is complicated by a lack of information about the destination and other inconveniences such as lodging and transportation. This creates an enormous demand for online travel agencies that can incentivize travelers and quickly book hotels and transportation while also providing curated content about the destination, thereby simplifying the traveler's life!
The valuable time saved while planning a trip enables this business to address a significant issue for millennial travelers. E-commerce has thrived in this segment, and a highly personalized service curation strategy is required to attract the best customers for your business. The travel industry is entirely focused on the satisfaction of your customer's trip. Therefore, when beginning this endeavor, maintain a high standard of quality. Ravi Morisetty strongly advises you to invest in an endeavor like AirBnb to convert your small idea into a billion dollar deal.
Health Services Available Online
Unsurprisingly, the healthcare sector has begun to straddle the line between e-commerce and traditional retail, with apps such as Practo, Doctor2U, and YourDoctors. While each service operates on a different business model, the underlying concept is the same: doctors provide advice to patients via text or chat.
By offering this service online, you avoid the need to visit a doctor physically, which saves both your and your doctor's time. This does not replace the need for in-person visits, but it can help determine whether or not an examination is necessary. According to trends, stats and Ravi Morisetty; Healthcare may be a complex start up but it has a lot of potential in terms of growth.
Shipping Internationally
Due to a lack of shipping services to and from overseas, many people have grown accustomed to shopping online from Indian e-commerce. This opens up enormous opportunities for international shipping startups that can schedule pickups with the click of a button.
An international shipping startup may be a viable option for exporting products or importing goods from other countries. International shipping enables people to receive their goods more quickly and increases the convenience of the globalized Indian online consumer.
These were some of the ecommerce businesses that have a lot of potential in 2022 and for many upcoming years. That is why Ravi Morisetty strongly advises you to start one of these ventures in the ecommerce industry as these are highly profitable also.
Thursday 10 March 2022
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