Hey friends! Are you thinking about starting a new online business selling home and living products? If so, you've picked an AWESOME industry with HUGE potential!
As an e-commerce agency, we at Ecomax work with many sellers in this space. We've seen how profitable Home & Living can be for new entrepreneurs on sites like Shopee and Lazada.
In this post, I'll explain 5 fantastic reasons why Home & Living is a great choice for new online sellers. Let's dive in!
1. Massive Market Size and Growth
The home and living market is ENORMOUS. And it's growing like crazy every year! In 2021, the global home improvement market was worth over $850 billion. And it's expected to grow to over $1 trillion by 2026! The same huge growth is happening here in Southeast Asia. More people are shopping online and spending more on their homes. In Vietnam alone, the home and living industry grew 30% in 2020. And Vietnam's e-commerce market is exploding overall, with a growth rate of over 50% per year! With numbers like these, it's easy to see why Home & Living is attracting so many new sellers. There are endless customers ready to buy!
2. Products with Strong Demand All Year Round
Another great reason to sell Home & Living products? The demand is ALWAYS there! People need home products year-round, not just during certain holidays or seasons. We all want our living spaces to look and feel nice. Some specific categories are especially popular right now. Furniture, kitchenware, small appliances, cleaning tools, personal care items, and smart home tech are just a few. And when new home trends emerge, sellers can ride the wave of sudden high demand. Lately we've seen huge growth in categories like aromatherapy, air purifiers, and indoor plants. The point is...with Home & Living, there's always strong demand for certain hot products and categories. New sellers can build an entire business around the constantly shifting trends.
3. Products with High Repeat Purchase Rates
Let's say a customer orders a new shower caddy from your Lazada store. Chances are...they'll be back to order another shower product soon! Shoppers tend to make frequent, repeated purchases within Home & Living categories. Once they like a product, they want more of it. Cleaning tools like vacuums and mops require replacement parts and accessories. Kitchen appliances like air fryers need add-ons. Most people want multiples of items like hangers, hooks, pads, and organizers. With the right mix of consumables and home staples, new sellers can cultivate a loyal base of repeat customers. This leads to predictable, stable long term revenue.
4. Huge Selection of Affordable Products
Here’s another thing I love about Home & Living: the massive selection of affordable products. You can source quality inventory at low wholesale prices. Simple products like storage bins, soap dispensers, mirrors, and pillowcases can be sourced for just a few dollars. This means new sellers can get started with minimal investment. And you can keep margins high while staying competitive on pricing. Sourcing low cost, high demand products gives new businesses the runway they need to scale up. As you grow, you can expand to more complex, high-ticket items.
5. Easy to Start with Proven Formulas
Finally, selling Home & Living products online is just EASY to start. The category isn't overly complicated or heavily regulated. You don't need special qualifications or expertise. And it's simple to evaluate demand before committing to new products. Just see what existing sellers are already doing well!
For instance, at Ecomax we help new entrepreneurs:
- Source winning products by analyzing competitors and reviews
- Set up visually appealing stores
- Create promotions, coupons and reviews to generate sales
- Optimize listings for search and conversions
- Automate messaging and follow up sequences
With the right coaching and tools, anyone can implement these proven formulas. The home & living space is ideal for beginners ready to build a profitable business from scratch.
In Summary...
As you can see, the home and living category offers an AMAZING opportunity for e-commerce entrepreneurs.
With the right products and professional guidance, new sellers can capitalize on:
- Massive market size and growth
- Year-round demand for certain products
- Repeat purchases from loyal customers
- Huge selection of affordable products
- Easy startup with proven formulas
At Ecomax, we specialize in helping new sellers thrive in Home & Living. Our experts coach you through every step - from store setup to product selection, promotions, and beyond. We also make e-commerce easy through our Ecomax Seller Suite platform. It allows you to manage products, orders, and inventory for multiple stores from one central dashboard. Ready to explore the exciting potential of Home & Living? Let's connect for a free consultation! At Ecomax, we're here to help you build a successful online business from the ground up.
Reach out today to get started on the path to e-commerce success!