1. Only 13.6% of sales were made from online purchases in 2019
  2. This number has increased to over 19% in 2021, and is expected to propel to over 45% by 2024.
  3. The Australian e-commerce market revenue in 2020 exceeded USD $27M.

2021 is undoubtedly one of the most business-friendly environments that we have seen in quite a while; the proliferation of social media advertising, digital marketing, and AI software business tools has meant that business owners can by-pass the limitations imposed upon them by their domestic markets, and address a globally accessible customer base.

Thanks to the effects of the COVID-19 pandemic- which significantly pushed consumers towards favouring an online shopping structure, the global e-commerce market has boomed. This has increased the amount of opportunities available for aspiring entrepreneurs, albeit in thriving levels of high competition.

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It is important to remember that whilst the majority of e-commerce businesses that receive attention and focus on the news are transnational colossals, extensive and widespread growth benefits all business models- regardless of how small.

Having said that, it should go without saying that starting and developing an online e-commerce business takes a serious amount of dedication. You should expect to put in countless hours and gruntwork, as the starting process can involve: significant legal and procedural rigmarole, extra fees, and unexpected complications.

The expansion of the internet has meant that certain business models can thrive with very little capital- particularly in the sphere of digital marketing. Of course, such models usually come at a different opportunity cost (mainly time). Consequently, setting out an adequate business plan and properly managing your time can be essential in ensuring your business’s long term success.

Below we will analyse five online business concepts that are projected to thrive by 2025, analysing the benefits and disadvantages of each one, so you don’t have to.

Website Builders

Following the aftermath of the COVID-19 pandemic, consumers have continued to prefer an online shopping format; this is because lockdown inadvertently showed us the capabilities of our AI software and technologies, and allowed us to engage with our favourite products and services without needing to inconvenience ourselves tangibly.

This has spurred demand for Website Builders- AI technology tools which are made to enable business owners to quickly create their website without needing to spend a lot of time or accrue a significant amount of capital.

At the moment, the most notable website builders in the industry have been considered by The Really Important Information Company (TRUiC), and according to their report on website builders, included is Shopify, GoDaddy and Wix, but with the generally flexible structure of options available, it is an area that continues to welcome innovative and bright individuals, providing very profitable results.

Box Subscription Businesses

The box subscription market has continued to expand- despite being around for quite a while.

When a customer places an order with a box subscription business, they are directed into a sales format that includes a plethora of upsell options and potential add-ons.

Back in 2016, Shorr Packaging calculated that there were over 21 million box subscription services around the world- an approximate 3,000 percent jump in comparison to its 700,000 figure back in 2013.

The box subscription industry also entails quite a fascinating demographic- with the average consumer being roughly 40 years of age and making around USD $80,000 annually.

Chatbot businesses

Chatbots have undoubtedly grown on us on account of platforms like Amazon and Facebook ensuring that we interact with them on a regular day-to-day basis.

AI-powered chatbots can allow business owners to segue away from the traditional realm of customer service, and attempt to automate a variety of tasks, saving significant capital on labour costs and legal consultation fees.

Of course, chatbot software is not solely exclusive to customer service; its e-commerce presence has become increasingly prevalent, and business owners are increasingly attempting to solely rely on chatbots so as to automate a plethora of their most essential digital marketing initiatives.

Ad management businesses

Understanding how to direct paid traffic to your website- as well as how to optimize your conversion rate, is one of the many massive benefits of starting an ad management company.

Contrary to popular opinion, ad management campaigns can be incredibly complicated. Customer audience definitions and re-targeting schemes, to name a few, can require a significant learning curve and demand a prolific amount of time.

The benefits of such a time investment, however, are that the ad management industry is driven by the growth of e-commerce and tech colossals- such as Amazon, Facebook and Google, and consequently could place you in a position where you could safely reap extraordinary monetary benefits..

SEO business

Search Engine Optimization (SEO) and digital marketing agencies have become an increasingly lucrative and tempting sector to dive into.

This aforementioned lucrativeness stems from the fact that the ability to consistently and measurably rank well amongst the Google algorithm organically is increasingly in demand.

This is due to the general priority that consumers tend to give to the first search result that comes up on their screen, and consequently is becoming exponentially profitable, whilst needing a relatively low amount of capital.

Capitalizing on the growing Digital Marketing industry via SEO can take you very far from a business standpoint- not only with clients you work with, but with your other businesses in the future. You’ll pragmatically become an expert in directing organic traffic to your business’s website, and will be ideally suited to dive into a plethora of other closely related sectors- including blogs and e-commerce businesses.

Final Words

Finding the perfect online business for you will of course depend on your current available time, capital, and personal potential. Nevertheless, we believe the above list provides a good enough insight- albeit briefly, of the sectors which are currently not only easily accessible, but also very rewarding. So, what are you waiting for?