COVID-19 pandemic has impacted businesses across the world. Once crowded streets, stores, and other brick and mortar establishments are now stranded. This has caused a sudden surge in the eCommerce business as consumers are purchasing everything online.

According to Statista, between January and March 2020, online retail platforms recorded a 6% increase in global traffic. And, in March 2020, the eCommerce industry witnessed 14.34 billion visits globally, up from 12.81 billion in January 2020.

The rise in online shopping has encouraged entrepreneurs to invest in eCommerce marketplaces. Amazon – the retail giant, recently announced revenue of $75.4 billion in the first quarter of 2020 i.e. $33 million/hour in sales. Stating its dominance in the eCommerce industry, Amazon is likely to grow even more during the pandemic. 

Considering the growth in the eCommerce industry we are going to further discuss the top 15 niche-specific multi-vendor marketplace ideas for 2020. The ideas listed below can help business owners, entrepreneurs or existing offline business retailers to start their business online.

Also Read: Benefits of a multi-vendor store over eCommerce shops.

Top Online Multi-vendor E-commerce Business Ideas

1. Handcrafted Items Marketplace

Handmade goods, vintage items, and craft supplies – there’s an endless list of handcrafted items that badly needed a marketplace to thrive. With platforms like Etsy, the market for custom-made items is flourishing. You can start a similar business by building an online multi-vendor marketplace like Etsy.

2. Grocery Marketplace

As the majority of retailers and entrepreneurs are looking to set up their online individual storefront, the e-grocery marketplace is a perfect platform to invest and cash-in. 

Read this guide, to understand different challenges, solutions, and opportunities in-store for an eCommerce grocery marketplace. 

3. Organic Products 

The online marketplace for organic products is one of the most profitable business ideas for startups as well as enterprises. Amounting to $95 billion in 2018, up from nearly $18 billion, the worldwide sales of organic products have grown substantially in the last two decades. 

Source: colorlib.com

Click here to launch your customizable e-grocery marketplace for organic food products.

4. Fashion Marketplace

The online fashion industry is among the largest and most popular marketplaces worldwide with an estimated market size of around $992 billion by 2024. Top marketplaces like Lyst and Amazon Fashion are already fueling growth attracting millions of shoppers worldwide with their apparel, footwear, and other accessories line-up.

Learn how to build an online fashion marketplace with Yo!Kart.

5. B2B Marketplace

A popular eCommerce market with a high barrier to entry, the B2B eCommerce marketplace allows brands to sell well and at scale. 

Learn how Yo!Kart will help you to launch a customized B2B multi-vendor eCommerce marketplace successfully.

6. Digital Products Marketplace 

The Digital Product marketplace presents several growth opportunities, it is best to invest and cash-in. Amazon, Walmart, and AliExpress are among the most popular marketplaces for selling digital goods globally.

If you wish to start a similar marketplace to sell digital goods, then choose Yo!Kart. We’ll help you launch a digital goods marketplace with niche-specific features.

7. Jewelry & Ornaments Marketplace 

The global jewelry market valued at around $278 billion in 2018 is expected to reach $480 billion by 2025, according to Statista. With a high-profit margin and several growth opportunities, Jewelry & Ornaments marketplace is a relevant business idea for both enterprises and startups. 

8. Furniture Marketplace 

With the advancement in logistics, reduced shipping cost (for larger items), and an option of pre-sale listing of furniture and delivery, the online furniture marketplace is growing rapidly. 

The industry is expected to grow at an average annual growth rate of 10% worldwide, resulting in a market volume of around $290 billion in 2023.

Read this guide to learn more about top marketplace players and gain an insider’s view of the online furniture marketplace.

9. Electronics Marketplace 

Invite and manage electronic vendors to register and sell products in your marketplace. A customized multi-vendor marketplace for electronics by Yo!Kart offers several distinct features like streamlined checkout, up to 5 million product listings, and more. With a Compound annual growth rate (CAGR) of around 7.3% over the next four years, the online electronics marketplace dominated by top players like Best Buy, digitec, and GAME is expected to grow substantially.

10. Liquor Marketplace

The online alcohol industry is a lucrative niche marketplace with an untapped potential yet to be fully discovered. A statistic released by the US Department of Commerce showcases that consumers spend nearly $54 billion on the purchase of alcoholic beverages. 

As consumers buy alcohol online, learn what market opportunities are in-store for entrepreneurs looking to start their own wine and liquor marketplace.

11. Kitchen Utensils And Appliances

Instead of opting for a common marketplace to list/sell the kitchen utensils and appliances, vendors look for a niche-marketplace solely focused on their products. This is why custom marketplaces with niche-specific features sell fast and do well. HayNeedle and Cooking.com for instance, are some of the best online marketplaces for kitchen wares. 

12. Sports Good Marketplace

A marketplace for sports and fitness enthusiasts is another popular trend with a wider audience. As game players search for coaches, sports activities, materials, and fitness centers in their area, starting a sports marketplace is a great business idea. Sportsfinda, for instance, is an eCommerce marketplace for students and colleges to sell sports goods. 

13. Cosmetics Marketplace

There’s a steep demand for high-end beauty products like cosmetics worldwide. As per Statista, the global cosmetics market valued at $507 billion is projected to reach $758 billion by 2025. And, the online cosmetic industry is growing rapidly as well. 

To launch a performance-optimized online cosmetics marketplace, consult Yo!Kart experts without delay.

14. Automotive Marketplace

Sustained technology developments and the increasing millennial population have a massive impact on accelerating the growth of the online automotive marketplace. It presents several growth opportunities as highlighted by Vroom – a popular online marketplace for used cars. As the US automotive marketplace depicts a positive trend with growing advertising spend by dealers, starting an online automotive marketplace is a great business idea. 

15. Hardware Marketplace

Ecommerce sales for computer hardware and communication equipment amount to nearly $26 billion in 2018, according to Statista. It is a popular eCommerce marketplace with several top players. 

As several entrepreneurs or hardware retailers looking to grow their business, the eCommerce industry is the best bet today. Choose Yo!Kart to build a hardware multi-vendor marketplace with robust eCommerce features.

Content Source:
https://www.yo-kart.com/blog/top-online-multi-vendor-marketplace-business-ideas/

Originally Published At:
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