Are you a budding entrepreneur looking for the perfect product to launch a successful business? The eCommerce industry is currently booming and primed for even further growth.
It’s now estimated that US eCommerce sales will cross $1 trillion for the first time in 2022. This is largely down to growth precipitated by the pandemic, as it was originally not forecast to reach this milestone until 2024. So if you were thinking of starting an eCommerce business, now would be a perfect time to do so.
But a successful business needs solid product ideas. If this is something you’re struggling to come up with this guide can help. Read on for three winning consumer product ideas that will have you laughing all the way to the bank.
1. Self-Care Products
In recent years, self-care has become a much more prominent concept than it has been before. First, the arrival of K-Beauty products in the early 2010s renewed people’s interest in beauty and makeup. Then the pandemic hit, and what was once viewed as little more than a nice treat become a necessity for survival.
Today, the self-care market is huge. The wellness industry has now increased its global market value to $4.4 trillion, and the US has the biggest self-care market of all.
Another thing that makes this a great industry to get into is that it’s diverse. You can make so many kinds of consumer products —from candles and bath bombs to face masks and jade rollers. Because of how popular and wide-ranging it is, you should have no issues finding a personal care manufacturer.
2. Something Sustainable
Unless you’ve been living under a rock for the past few years, you’ll have been privy to the ongoing global conversation concerning climate change. There’s been a concerted encouragement among both consumers and corporations to change their ways in order to help be a little kinder to our planet. Because of this, you can be fairly sure that if you bring out a useful and effective sustainable product it will be well received by consumers.
This could be something that’s energy-efficient, saves water, helps avoid food waste, or even provides resources about how people can help. There’s a lot of this market that’s as of yet largely untapped.
3. A Personal Pain Point
All of the best products are things that solve an inconvenience or issue for customers. When people find a product or service that makes their lives better or solves a problem they’ve been having for months, they’ll gladly pay good money for it. If you’re looking for good product ideas, why not think of issues you wish you had a solution to?
You can also do your own market research by asking your friends for ideas. If enough people are experiencing the same kind of problem, this is worth looking into.
Your Fast Track to Creative Product Ideas
Coming up with new product ideas can be tricky, especially if you’re experiencing a creative block. We hope these suggestions will spark the inspiration for an amazing product we’ll get to see on the shelves very soon.
If you’re looking for more business tips or advice, check out the rest of our articles now.