The Next Frontier in AI: How AI Agents Are Sh ..
Feb 11 - 2024
Trending Digital Products to Consider for Your Ecommerce Business
One of the important considerations in the launch of an e-commerce store is the accurate identification of products that are viable to be sold online. When it comes to products, it is often the tangible items such as fashion merchandise, beauty care, electricals, appliances and home furnishings that spring to our mind. However, e-commerce is not limited to the sale of physical products only. Businesses can also choose to sell non-physical or intangible products that have their fair share of demand in the market and can prove to be equally profitable as their physical alternatives, if not more.
If you are in the process of setting up an e-commerce business and looking for some inspiration on the type of products that you can sell on the Web, here’s is a handy compilation of a few trending digital offerings that can help you make money online, without involving exorbitant upfront and overhead costs or cumbersome inventory and logistics management.
1. Online courses, classes and workshops
Online learning is fast gaining popularity as a flexible and convenient mode of education in the 21st century – more so for students who do not have the time or money to acquire formal training as well as for adult professionals in full-time jobs. The benefits of online learning are manifold. The audience gets to save on commute time and money, set their own study schedules and pick up new skills in the comfort of their homes. Thus, it’s no surprise that Udemy, the world’s largest online learning platform, boasts 40 million students, 50,000 instructors, 130K courses and 245 million course enrolments to its credit. So, if you pride yourself on your mastery of a particular skill or your proficiency in a certain language, feel free to share your knowledge with others, albeit at a price.
Along with online courses, you could offer your buyers the option to enrol in classes and workshops. With all the fad surrounding fitness and healthy living, you could rake in the bucks by selling packages for Zumba workshops, dance workshops, yoga classes, cookery classes and more.
2. Resume writing, proofreading and editing services
In a study conducted by the US-based online job search service, TheLadders, it was revealed that recruiters spent no more than a few seconds on skimming through a resume, what with each job opening attracting a high number of applications from prospects. So, it’s all but six seconds that a job seeker has to grab the attention of a recruiter. Think you have good reasons to believe that you are a pro in the art of writing the “perfect” resume? Why not utilise your skill to generate income by selling expert resume writing services online? Your gamut of services could include writing resumes and cover letters from scratch and providing the final touches to previously written resumes/cover letters.
Proofreading and editing services are also much in demand these days, thanks to writers across the globe trying their hand at creative pieces in languages that are not native to them. You can encash this opportunity by offering chargeable proofreading and editing services for academic journals, manuscripts, unpublished research papers and books, magazine content, applications to MBA schools and other documents in languages as diverse as English, Dutch, French, Finnish, Thai and Japanese.
3. Appointment and consultation bookings
The present-day consumer is too busy to spend time on long wait times when visiting a clinic, a beauty salon, a retail store or a car servicing centre. The need of the hour is to provide time-crunched consumers with a simple, hassle-free and convenient appointment scheduling system that allows them to pre-schedule their doctor visits, hair and beauty appointments, in-person meetings with store stylists, financial advisory consultations and bookings for other essential services from anywhere, anytime and with just a few taps or clicks.
A case in point is Europe’s leading 24/7 booking platform for beauty, styling and wellness appointments, Treatwell, which offers consumers the convenience of round-the-clock scheduling of thousands of salons and spas through its website and app.
4. Rental services
One of the changing patterns in the ever-evolving consumer buying behaviour is the new-found inclination towards rentals – the act of owning products for a short term and at a lower price. Rentals are big these days and it’s not hard to see why. With millennials increasingly adopting a more flexible approach to their lifestyle, mobility is fast becoming an essential consideration for many people who don’t see themselves rooted in one place for long. Hence, there’s a strong urge to do away with anything and everything that could entail significant time and effort in their purchase or disposal.
Take the case of Furlenco – a market leader in the online rental of furniture. Furlenco caters to several cities in India and aims to make the process of owing stylish yet good-quality furniture pieces less stressful and more affordable by allowing customers to hire them through a monthly rental. You could even go the Flyrobe route and offer dress rental services to customers who don’t particularly fancy splurging on designer wear or expensive outfits for grand occasions such as weddings and receptions.
5. Gift experiences
Gone are days when presents were synonymous with material gifts. Today, more and more millennials prefer receiving and giving creative gifts in the form of experience vouchers, which let the recipients enjoy some much-needed time off and indulge their passion for activities they pursue out of interest or as a hobby, e.g. driving, adventure, sports, theatre, gourmet dining and spa breaks. Virgin Experience Days, a reputed experience day company in the UK, also provides experiences as unique as dolphin watching trips, Asian Masterclasses, luxury chocolate-making workshops, The View from The Shard and Harry Potter Walking Tours.
According to a survey, experience gifting is on the rise and a study reveals that experiential gifts represent one of the gift industry’s faster-growing segments – a fact worth considering if you are looking to establish your online venture in a yet-to-be-fully-tapped business sector.
6. Software services
When it comes to selling products online, the sky is indeed the limit with regards to your choice of digital offerings. Niche products, such as software, can turn out to be a profitable investment as they are infinitely scalable, and your possibilities of creating saleable offerings are truly endless. And it is not just about leveraging your proficiency in writing codes to drive software-related sales. Sure, you can convert your code writing skills into cash by selling WordPress plugins, web templates, video games, mobile apps, snippets etc. However, you can also seek inspiration from the likes of GoDaddy and try your hand at selling other money-making software services that do not require extensive coding expertise on your part, e.g. selling domains, web hosting, SSL certificates and professional email.
