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

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?