5 Niche IT Product Ideas for your eCommerce Store

1. 5NicheITProductIdeas foryoureCommerce Store

2. OverviewoftheITindustry in2020

3. Much to its expectation, the global IT industry, in 2020, has been low on numbers in terms of revenue. As per reports from IDC, the research consultancy, as of August 2020, the global revenue projected was $4.8 trillion for the year compared to their original estimate of $5.2 trillion. IDC projects that the IT industry is on the force to reach the $5 trillion mark in 2021. If the number holds, it will signify a 4.2% growth, which would signal a return to the original line that the industry was on before the COVID pandemic. Furthermore, in the future, IDC projects the pattern to continue, gauging a 5% CAGR for the industry till 2024. The United States of America is the biggest tech industry worldwide, reporting 33% of the total revenue, or approximately $1.6 trillion for 2021. The IT sector accounts for a substantial portion of the economic activity in the US and other countries. According to CompTIA's Cyberstates report, the US IT sector's economic implications, measured as a percentage of GDP, exceed most industries, including significant retail, transportation, and construction sectors.

4. 5ITproductsthatareprofitable tosellonline

5. Servers According to the IDC Worldwide Quarterly Server Tracker, global server market revenue increased to $22.6 billion during the third quarter of 2020. Everyone, be it an individual or a company, depends on the internet for communication, data storage, or other activities. Because of this continuous and increasing dependence on the internet, the server market will continue to bloom, and hence to sell servers online, you should not think twice. Software The software has now become a necessity for anyone who wishes to be in the eCommerce business. Without software, all the tasks become manual in nature, require an amount of time, which would ruin the essence of running a business efficiently and effectively. The worldwide enterprise software market is projected to exceed $575 billion by 2024. The US accounts for 42.6% of the total global software industry's value and is the leading market for enterprise software (majorly because of the tech giants). So do not forget to include software in your product list. Network Equipment According to Reportlinker, the global enterprise network equipment, which is estimated at $67.4 billion in the year 2020, is forecasted to reach $97.2 billion by 2027, growing at a CAGR of 5.4% over the analysis period 2020-2027. The demand for networking equipment is rapidly increasing, with even small businesses realizing the need for network equipment to stay afloat. Therefore, network equipment is a must in the list of IT products which you wish to sell.

6. Ink and toner cartridges The global ink and toner industry valued at $26.8 billion in 2020 is anticipated to touch the $33.9 billion mark by 2023, at a CAGR of 4% during the anticipation period. High demand for ink and toner cartridges is fuelled by increasing demand for and dependence on computers and printer supplies. The industry will never go down since this dependence and need will increase, so in the top 5 IT products, ink, and toner cartridges are a must for increased profitability. Computer accessories The global accessories market value is projected to increase during 2020-2024 by $2.6 billion, with a growth rate of 6% during the forecast period. Corporates from every industry are pushing towards automation, which serves as the greatest factor for an increase in the accessories industry's value. Also, apart from corporate needs, computer accessories are necessary for households and schools since they pose a high demand for computers, leading to an increased demand for their accessories. Hence, until the need for computers and laptops is increasing, the accessories market will always show a growing graph, so they must be included in the product list.

7. Whyshouldyoubuildan eCommercestoretosellIT Products? eCommerce has been around for long enough for the online market to develop or grow just as competitive as the conventional marketplace. Hence, it is not just merely challenging to survive if your business is not on the internet, but nearly impossible. eCommerce offers a host of benefits to all those who wish to expand their business from the conventional brick and mortar store. Let us have a look at those benefits: Alternative Marketing Channel eCommerce sites, along with mobile apps, are crucial for a business's marketing strategies. Be it content marketing, email newsletters, or social media, you must have an address on the World Wide Web where the potential audience can engage with your brand. An effective digital marketing strategy will compel your target audience to visit your store, which results from a better ranking in the search results in various search engines. This will boost your marketing strategies, which would lead to greater visibility, both locally and globally. With an increasing number of people turning to the internet for all their issues or queries, an eCommerce store with the right conversion strategy can convert visitors to leads and sales.

8. Cost-Effective It is always more cost-effective to set up a website than to set up a full-fledged physical store, which involves various kinds of costs. Hence, opening an eCommerce store is a much less risky investment than to open another physical store for your business. Some reasons for an eCommerce store or e-business being cost-effective: Cheaper mode of advertising and marketing: The conventional forms of advertising are not that budget-friendly as compared to digital marketing strategies. For instance, SEO is an entirely free source to bring in organic traffic via search engines. Also, email marketing tools and paid ads cost way less than billboard adverts or telemarketing. Save on rent: Renting out space for setting up a store is way more costly than online hosting and maintaining a store. Thanks to eCommerce platforms like VARStreet, Magento, BigCommerce, and others, you can have access to various marketing and management tools for your e-store. Hence, not only do you save on rent, but you also get help with the maintenance and management of your business. Scalable: An eCommerce store or a website, to be more precise, can conveniently get updated and optimized to keep up with your growing business. You can enhance your marketing campaigns or integrate new features to suit the changing market trends and customer behavior.

9. Global Reach Thanks to the internet, there is a world of opportunities for businesses to grow and expand. In contrast to a brick and mortar store stuck at a particular place, the internet gives businesses a global reach. Even if locals are your primary targets, going online will provide you with an edge by providing new opportunities, like other facets for your business. The aforementioned (including the overview) is enough to justify why you should set up an online eCommerce store and sell IT products online. Now we shall look at 5 profitable IT products which are worth selling online. Conclusion It is believed that this document, in brief, has taken care of the IT products, which should be in the product list of every business. Not just that, this document has also helped people know why an eCommerce store is desirable. Now, the ball is in your court. So take a decision, and get partnered with a top-notch eCommerce platform, watch your IT products eCommerce store's growth.