Ready to start an online store in 2014? There will always be a market for innovative products and great businesses, but not every industry is created equal. We studied vertical data from nearly 50,000 Bigcommerce clients as well as growth rates for major internet retailers. The trends we uncovered prove nimble small- and medium-sized businesses have big opportunities to outperform their corporate counterparts.
Automotive stores are red hot on Bigcommerce with 89% growth in revenue per store. Yet major internet retailers, like AutoZone and O'Reilly, averaged 22% revenue growth.
INSIGHT: Strong demand for aftermarket parts and accessories continues to fuel online sales. To keep up with the competition, invest in SEO and mobile strategies.
Jewelry and accessories is on of Bigcommerce's healthiest verticals, boasting a 31% jump in revenue per store with a 4% increase in store count. Clothing stores experienced a 4% decline in revenue per store while store count grew by 38%.
INSIGHT: Is fashion in your future? Start with jewelry or accessories before expanding into the increasingly competitive apparel market.
Revenue for stores selling books, music, and movies dropped 14% this past year. Even big retailers have struggled in the face of digital products from iTunes, Netflix, and Amazon.
INSIGHT: SMBs can pivot faster than corporate chains. If you are passionate about this industry, your best bet is focusing on specialized products for niche markets.
View the full infographic to learn about more industry trends.