Daily Facts - Day #51: 95% of ecommerce sites are making less than $80 per month

Last Update: December 12, 2018

Ecommerce is a trillion dollar market. That's a fact ...

Creating and running an ecommerce business could be a great business idea ...

One that could bring you the financial freedom ... Or not ...

According to Lemonstand ...

Only 650,000 - out of the 12 million stores online! - make over $1,000 per year.

In other words: 95% of ecommerce sites are making less than $80 per month!

Bad, discouraging news?

Here's the good news: there are no secret recipes here ...

Yep! That's the good news! It means that you don't have to reinvent the wheel ...

In my opinion the equation is pretty simple ... In my opinion there are 3 essential ingredients:


  • a niche where you can add value
  • a well-targeted customer segment
  • a well-chosen disposable/consumable product (conversion rate, price point, popularity, competitiveness, product size/weight, etc)


It sounds too easy? It is!

If you don't believe me, check out the following best selling (crazy?) ecommerce trends ...

1. Beard oil

Ties into a larger trend (men spending more on grooming) and can be marketed as a gift (people are willing to spend more on these!) ...

Here's the Google trend graph for 2018:




Potential profit: up to $20 per bottle.

2. Minimalist watches

Small, easy to ship and comes with potentially high profit margins.

Here's the Google trend graph for 2018:




Potential profit: up to $60 per piece.

3. Bamboo toothbrushes

Honestly, I didn’t know bamboo toothbrushes were a thing ...

Small, easy to ship, high potential for repurchase, hits on the environmentally friendly trend, etc.

Here's the Google trend graph for 2018:




4. Bluetooth speakers

Believe it or not, according to Markets And Markets, the wireless speaker industry is set to grow 10% annually to $31.80 Billion USD by 2023!

A rapidly growing market and reaching a passionate audience.

Here's the Google trend graph for 2018:




Potential profit: up to $60 per piece.

And so on ...

I gave you four examples, but the list is almost endless: fairy lights, menstrual cups, shapewear, enamel pins, e-cigarettes, LED lighting, Matcha powder tea, magnetic phone accessories, foldable dog bowl, customizable cat bowl, detox juice, paleo bars, fake eyelashes, men’s engagement rings, fidget spinners, party supplies, outdoor speakers, etc, etc, etc.

Now tell me ... are you selling any of these?

The point: the only limit is your imagination.

Forget the herd mentality ... Try to be "creative" ... Try to think out of the box ... Try to find well-narrowed unique sub-niches and product categories, well-targeted customer segments and you'll get a seat in the top 5% ...

Sounds incredible?

Here's one last example ...

A more or less common 4-star dog bowl is generating $350,000 per month on Amazon ... A dog bowl ...


Your thoughts?


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GoldenVoyage Premium
Hey smarketeer, you are not just barking up a tree. Dream it, write it, sell it. Whatever it is. Good idea to focus on the small it, sell a boatload of them, then if the time is right, move on to bigger its all the way to the five percenter club. Gotta split and get back to it. Doc
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smartketeer Premium
Thanks for the input Doc!
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OzLand Premium
So true.
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smartketeer Premium
:))
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OzLand Premium
Yes U R successful. If your making what you think is a successful living. I really appreciate all that you contribute. But 16hrs a day? Seems like you've found your passion! 16hrs(day)+passion = substantial living.
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smartketeer Premium
As they say ... Being your own boss = you can choose which 16 hrs to work each day :)
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MaxReliable Premium
Your post is a real eye opener.

Thanks for sharing,
Max
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smartketeer Premium
Thanks for reading Max!
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MaxReliable Premium
My pleasure.

Max
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qrwizard Premium
Scary... I just bought an Amazon store builder plugin, I hope they can give me a refund.
Thanks for sharing. Food for thinking.
Cheers

Richard
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smartketeer Premium
Thanks for the time Richard!
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qrwizard Premium
I should thank you for pointing us in the right direction!
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LouiseBT Premium
Joh! As we say in sunny South Africa :-) These facts are pretty mind-blowing! From an online marketer's perspective and one who is concerned about the environment. Bravo Bamboo Toothbrushes! Now we need bamboo blue tooth speakers, watches and beard oil with no palm oil in it. Sorry, my mind went into overdrive right there.
Thank you Smarketeer - smart as ever! You add so much value to all of us, really appreciated.
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smartketeer Premium
Once again, thanks for your time and your feedback Louise!
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LouiseBT Premium
#Loyalty :-)
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trymetoday Premium
Think there is too many opportunities, you can end up chasing your tail, what about keeping it simple and promoting WA to start with.
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smartketeer Premium
We are living in a free world :)

Is ALWAYS your choice ...
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OzLand Premium
Wow Smartk.l don't feel too positive! But just out of curiosity how successful have you been on line? I've always pictured you as a very successful entrepreneur. I hope I'm right.
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smartketeer Premium
Success is relative Steven :)

We all have different dreams and end goals ...

I'm working 16 hrs per day 365 days per year ... So I guess I'm not successful at all .. But I'm my own boss since 2010 and I'm making a decent living ...
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marchanna Premium
Another masterpiece! You continue to amaze.... :)
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smartketeer Premium
Thanks my friend!

That's the goal :)
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Roseberry Premium
I did not know Google had a Trend Graph. That's pretty neat. Now I can check some of my favorite niches.
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smartketeer Premium
Yes you can :)

Thanks for the time Rose!
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JonLake Premium
Bamboo toothbrushes? Who knew??!!
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smartketeer Premium
My point :)
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