Monday, March Mon, 2024
E-COMMERCE

TOP 10 Profitable E-Commerce Business Ideas in India-2024

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E-commerce Business

Introduction: 

E-commerce business ideas help individuals buy and sell anything on online websites regardless of their location. 

E-commerce works with technological advancements like the internet, mobile commerce, online transaction processing, electronic data interchange etc.

Online businesses provide direct retail sales via mobile applications, establish customers and marketplace by e-mail, engage in new product sales, business-to-business sales, customer-to-customer sales, online exchange of financial currency etc.

In this article, we will study the top 10 Profitable E-commerce business ideas in India.

Future of e-commerce business in India: -

BEST E-COMMERCE BUSINESS IDEAS

India’s online shopper base is to be the 2nd largest globally by 2030 with nearly 500-600 Million shoppers.

Around 87% of Indian households will have an internet connection by 2025, with a 21% rise in the duration of internet access through mobiles as compared to 2019.

By 20-30, 2+ Tier cities will contribute 88% of new online shoppers and $150 Billion in cumulative incremental online retail shopping.

Govt. has allowed FDI under automatic route B2B e-commerce business and in the market marketplace model 100% FDI under government approval for E-Commerce by Food Retail Companies, provided products retailed are manufactured or produced by India.

In the Budget 2023-24, it was declared that in 2022, digital payments showed an increase of 76% in transactions and 91% in value.

Government e-Marketplace (GeM), is a stop portal to facilitate online procurement of common use Goods and Services by various Government Department/Organisation/PSUs. 

Today, GeM has a user base of 68,636 government buyers and is offering access to over 3.1 Mn. Products and connecting 6.3 Mn. Sellers service providers.

E-commerce is set to benefit from government initiatives to boost rural broadband penetration within the ambit of Digital India. Bharat Net is one such programme with an outlay of INR 61000 Crore aimed to bring broadband connectivity to India’s 2,50,000 Gram Panchayat.

An open network protocol for e-commerce in India, ONDC is an initiative backed by DPIIT, Ministery of Commerce and Industry. It aims to change the market from an operator-driven ecosystem to a facilitator-driven network. It is available in 273 cities and has 35000 sellers on the network

 

 

10 Profitable  E-commerce Business Ideas in India -2024.

 

1. Beauty & Health Products

BEST BEAUTY E-COMMERCE BUSINESS IN INDIA

In 2020, the market size of the online beauty and personal care industry was valued at three billion U.S. dollars in India. The online beauty and personal care industry's market size is likely to reach about Six billion U.S. dollars in 2025.

Sephora.com was ranked number 1 as the most popular website in the Beauty and Cosmetic category in October 2023.

 

Purple .com is one of India’s largest e-beauty destinations with more than 7 million monthly active users. It was founded in the year 2012 in Mumbai. The beauty e-tailer has over 1000+ brands with nearly 50,000 products available on its website and app.

 

According to a statistics report the beauty and personal care industry in India is expected to grow by 3.86% annually with a 143% increase in volumes year on year. And the online sales channel for this industry is projected to grow by 18.2% by 2025.

 

2. Tech Products:

Emerging and fast-growing technologies like Artificial Intelligence (AI), Data Analytics and online payment gateways like Unified Payment Interface (UPI) are driving the next growth revolution in the e-commerce business in India.

 

According to a report by FICCI, the Indian e-commerce market is projected to reach $120 Billion by 2026. As per the estimates, the Indian e-commerce sector is estimated to surprise its American and Chinese counterparts by 2033-2034.

The E-commerce business of Tech Products is the buying and selling of goods and services or the transmitting of funds or data, over an electronic network primarily through the Internet.

 

3. Educational Courses & Coaching:

BEST ONLINE COACHING E COMMERCE BUSINESS IDEA

Students pursuing an undergraduate and postgraduate course in e-commerce can acquire practical knowledge of business management, e-financial accounting, e-Insurance, e-banking and cyber laws, e-marketing and business communication. These courses have market demand and employability.

 

Online e-commerce courses teach business management and marketing strategy skills, which are key to successfully operating an online business with an e-commerce storefront. Professionals in this field may need knowledge of accounting, finance and analysis

 

According to a market report, published by Sheer Analytics and Insights, The Indian online Education Market was valued at $2.1 Billion in 2021 and it is expected to reach $8.4 Billion at a CAGR of 12.0% between 2022 and 2032.

 

4. Online Food Ordering & delivery:

BEST E-COMMERCE FOOD DELIVERY BUSINESS

The online food order system is mainly designed primarily for use in the food delivery industry. This system allows hotels and restaurants to increase online food ordering for such types of businesses.

The customer can select food menu items in just a few minutes. The modern food industry allows for quick and easy delivery to customers places.

 

The online Food Delivery market in India is projected to reach a revenue of US$33.36 Billion in 2023. It is expected to show an annual growth rate (CAGR 2023-2027 ) of 21.78%. This growth will result in a projected market volume of US$ 73.38 billion by 2027.

 

List of top Companies Operating in the Indian Online Food Delivery industry. The Indian food delivery market has several major players, including ZOMATO, SWIGGY, FOODPANDA, FASSO’S, and DOMINO'S.

 

 

5. Web Development Services:

 

E-commerce web development is the process of building and designing e-commerce web development is the process of building and designing an e-commerce website where consumers can purchase products online.

E-commerce websites are so popular with consumers that developing an e-commerce website can help you generate more conversion and revenue for your business.

 

The top 5 website builder E-commerce businesses in India are as follows.

  • India’s online shopper base to be the 2nd largest globally by 2030 with nearly 500-600 Million shoppers.
  • Around 87% of Indian households will have an internet connection by 2025, with a 21% rise in the duration of internet access through mobiles as compared to 2019.
  • By 20-30, 2+ Tier cities will contribute 88% of new online shoppers and $150 Billion in cumulative incremental online retail shopping.
  • Govt. has allowed FDI under automatic route B2B e-commerce business and in the market marketplace model 100% FDI under government approval for E-Commerce by Food Retail Companies, provided products retailed are manufactured or produced by India.
  • In the Budget 2023-24, it was declared that in 2022, digital payments showed an increase of 76% in transactions and 91% in value.
  • Government e-Marketplace (GeM), is a stop portal to facilitate online procurement of common use Goods and Services by various Government Department/Organisation/PSUs. 
  • Today, GeM has a user base of 68,636 government buyers and is offering access to over 3.1 Mn. Products and connecting 6.3 Mn. Sellers service providers.
  • E-commerce is set to benefit from government initiatives to boost rural broadband penetration within the ambit of Digital India. Bharat Net is one such programme with an outlay of INR 61000 Crore aimed to bring broadband connectivity to India’s 2,50,000 Gram Panchayat
  • An open network protocol for e-commerce in India, ONDC is an initiative backed by DPIIT, Ministery of Commerce and Industry. It aims to change the market from an operator-driven ecosystem to a facilitator-driven network. It is available in 273 cities and has 35000 sellers on the network.
  • Big Commerce
  • Go Daddy
  • Wix
  • Woo Commerce
  • Square Space e-Commerce website provides businesses with the ability to make sales 24/7/365. This is a significant advantage over physical stores with limited opening The e-commerce Market in India is estimated at USD92.95 Billion in 2023 and it is expected to reach USD 246.10 Billion by 2028 growing at a CAGR of 21.50% during the forecast period (2023-2028)

6. Affiliate Marketing Commerce business.

Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale.

 

Best Affiliate Marketing Platforms in India:-

Reseller Club

V Commission

Big Rock Affiliate

Host Gator Affiliate

Optimise Affiliate.

 

The global affiliate marketing industry is worth over $17 Billion. The global affiliate marketing industry is expected to grow to a market size of $27.78 Billion by 2027

Affiliate marketing's future is changing as the online world evolves. It is a powerful way for businesses to reach more customers and make money.

 

7. Blogging.

If a business wants to utilize blogging to market its products, numerous platforms allow e-commerce businesses to add new content and direct more traffic to their sites.

The more popular your blog, the more success you will have as an e-commerce platform lead will turn into opportunities to earn more money.

The best Blogging tools for e-commerce business are as follows:

Wordpress.org

Tumbler

Wix

Square space

Mediu

6.7 Million people in India post on blogging sites while 12 million are blogging via social media. In recent periods blogging statistics for 2021, India has an impressive blogging e-commerce business

 

More than 409 million people view over 20 billion pages each month on Wordpress.com The average reader spends 52 seconds reading a blog post. There will be approximately 600 million blogs in the world in 2023

 

8. YouTube Channel

 

Eight out of every ten video search results are YouTube Videos. While TikTok is hot on its heels in terms of popularity. Youtube has a broader reach, with more than 95% of the internet population using it.

India has at least 8 crore creators and knowledge professionals but only 1.5 lakhs of professional content creators can monetise their services effectively

India is the country with the most YouTube users with an estimated 225 million YouTube users, India has more YouTube users than any other country and comes second with 197 million users

This year, YouTube's worldwide advertising revenues came to $6.9 Billion.

 

9. Online Fitness Training:

 

Online fitness training is a convenient and accessible way to achieve your fitness goals remotely. By utilizing the Digital platform, trainers provide personalized workout plans, nutritional guidance and motivation through virtual sessions. 

The fitness training programs often include video demonstration, progress tracking and real-time communication with a trainer for feedback.

Online fitness training allows individuals to stay committed to their health and wellness journey.

Total revenue in the Health & Fitness market is projected to reach US$19.24 million in 2022. Total revenue is expected market volume of US$31.97 Million by 2027.

 

10. Digital Marketing:

 

Digital marketing is the use of online channels to promote products or services. It encompasses various strategies, including social media, e-mail campaigns, search engine optimization( SEO) and content marketing.

The goal is to reach a target audience and increase brand visibility like Google, Facebook and Instagram to connect to users.

In the digital age, a robust online presence is crucial for effective marketing and business growth.

Digital marketing in India was worth 199 billion rupees, showing significant growth compared to 2015 when it was 47 billion rupees.

It is projected that the digital marketing sector will reach 539 billion rupees by the end of the financial year 2024, indicating substantial growth in the industry.

FASHION E-COMMERCE BUSINESS

My Conclusion:

E-commerce in India is ripe with opportunities for innovative entrepreneurs. The diverse and dynamic market presents multiple e-commerce business ideas that can cater evolving needs of Indian consumers.

As technology continues to advance and internet accessibility improves, aspiring business owners can tap into this burgeoning market. Success in e-commerce requires a combination of strategy planning, adaptability and a customer-centric approach.

By staying abreast of market trends and leveraging the power of online platforms entrepreneurs can carve a successful niche in India’s thriving e-commerce ecosystem.

THANK YOU VERY MUCH FOR YOUR LIKE, SHARE & SUBSCRIBE MY ARTICLE

AJAY PATRA

About Author

Ajay Kumar Patra is a highly experienced and accomplished accounts and taxation professional with over 27 years of experience in the industry. He is a Post graduate in Commerce (M. Com) from Sambalpur University with First Class and MBA-Finance with First Class from Jaipur National University....
He has worked with several large manufacturing units in India in various capacities. His last portfolio was (G.M) Finance & Accounts in large Steel Manufacturing Industry in Odisha. He Quit his job in the year May-2021.

Professional Content Writer: -
He is also a professional content writer and has published over 150 articles on business, finance, startups, e-commerce, and tourism. In 2021.All article you can see in the website www.odiyadigitalworld.com.
Content Writer
In addition to his professional work, Ajay is also a passionate content writer. He has published over 150 articles on business, finance, startups, e-commerce, and tourism. His articles are well-researched and informative, and they have been read by millions of people around the world. Ajay is also a regular contributor to several leading publications. He always published his own article in his website www.odiyadigitalworld.com.
Tax Consultant:
He is also Founder & CEO of own Tax consultancy firm, “Ajay Tax Consultant:, in Bhubaneswar, Odisha. Which has been started in the year 2021 with give best services to individuals and Business owner like Income Tax, GST. PAN, DSC, TDS with New company Registration with Insurance facilities to clients of PAN INDIA. You can visit website” www.ajaytaxconsultant.com.” to know more.

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Ajay Kumar Patra is a highly experienced and accomplished accounts and taxation professional with over 27 years of experience in the industry.