Retail Business Ideas Worth Giving A Shot

A total of 30.7 million micro-businesses are recorded in the United States, this accounts for 99.9% of all businesses in the country. According to the SBC (2019), a micro-enterprise is a small business operating with at least fewer than 500 employees. Companies that have less than a hundred employees are part of the 98.2 percent, those with fewer than 20 employees belong to the 89 percent.

Through these numbers, it is quite easy to assume that jobs offered by small businesses cover most of the labor demands in the United States. 64% of new jobs created by small companies brought income to 1.5 million people (Fundera, 2019). Small businesses catering to health care and social assistance, accommodation and food service, and retail trade industries provide various opportunities and contribute to the total number of small business employment shares.

The COVID-19 pandemic posed uncertainties and challenges to small business owners. Facebook (2020) found out that 31% of small businesses in the U.S. are directly affected. Positively, the internet and social media aid in their marketing efforts as 64% utilize online social platforms. Facebook bridged the gap between business and clients by providing a platform where companies can reach their customers, make an online presence and promote their products and services. No matter the industry — big or small restaurants, bakers and chefs of healthy meals, retail sellers — a social media platform can truly assist in their marketing efforts. One just needs to scroll through various options, place their orders and wait for their goods provided by couriers that provide shipping at great ease.

Indeed, small businesses are thriving and making a great contribution to our economic growth. More and more people are aspiring to jumpstart their own and venture through their own concepts and visions. They are continuously innovating ways, digitizing the supply chain, and incorporating technology in their operations. With today’s strict and competitive marketplace, businesses have to be unique in style, organized in strategy, and logistical in approach. Here is a list of retail business ideas that you can start with:

1. Support the green movement by putting up a sustainable grocery.

This kind of grocery simply practices sustainability by reducing environmental waste. Therefore, customers bring in their reusable containers and their own bags to the shop. Using their reusables, they transfer from the store’s container into theirs and pay for products without the extra cost of branding and packaging. Through this, we can minimize the use of plastic, other unnecessary waste, and advocate sustainable product packaging. This is one of the best ideas since there are not a lot of eco-friendly groceries around. Environmental awareness brought this shift to consumer behavior in the marketplace and this only makes it more profitable than other businesses plus, it is a good cause to support.

2. Sell sportswear to those working out at home.

Despite gyms and other recreational studios reopening, a lot of people still feel safe working out at home. This makes dri-fit shirts and yoga pants a great idea to earn a profit. Online workouts on YouTube have gained more popularity in the time of COVID-19. Tiktok fitness challenges and personal home fitness classes — there are plenty of activities that highlight the need for active sportswear.

Retail Business Ideas — Image source: Pexels

3. There is always room for home improvement.

These days, people have become more interested in improving their homes. Setting up a workspace, a new DIY shelf, or even just fresh linens can be pure sources of joy. Because of this, your market is all over the place. Find a supplier that can provide cheap furniture and other home essentials. Make sure it follows an aesthetic design principle. Right now, the trend seems to be Nordic or Scandinavian. This design practices minimalism and uses different textures and soft hues in sleek and modern decor. To go with that are some cooking and dining essentials as well. You will be sold out in a heartbeat.

4. Whip up something in the kitchen.

The pandemic forced many businesses including the food industry to come up with different creative ways to sell their products. Food trends have been followed and many businesses have incorporated this into their menus. This is risky however since there can be many food and baked goods in the e-commerce market but with great taste, a relatively affordable price, and word-of-mouth marketing, you can definitely earn twice as much and fast.

Retail Business Ideas 2 — Image source: Pexels

5. Provide customers the glow with skincare products

With most people at home and are not going out, they have all the time and need for skin care products especially those that require peeling and downtime. Now is the time to reach out and convince them to try your products. The COVID-19 situation brought the emergence of mask-ne or acne breakout caused by wearing a mask for extended hours. Products that nourish and care for the skin are profitable in these times.

For these ideas, it would provide great ease if you partner with a courier that has expertise in shipping retail products since these items to be sold have to be handled with utmost care to not get negative reviews and feedback from your customers. Obviously, fashion and other related merchandise cannot promise profit and returns since most people are just at home following community quarantine protocols. These ideas, however, are just the tip of the iceberg as there are other choices. The best way to find that out is to tap your potential buyers and ask what they need, that is where you can derive ideas from.

About the Author:

Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle, and health realms. His academic background and extensive experience in teaching, textbook evaluation, business management, and traveling are translated into his works.