Automotive and jewellery and accessories a lucrative entry point for online stores says Bigcommerce.com

THERE's a lot of money to be made in setting up your own online store with some categories more lucrative than others. Where will your cash cow lie?

Automotive is the fast-growing online retail category by revenue, according to Bigcommerce.com. Picture: ThinkStock.

THERE is a lot of money to be made in setting up your own online store. But with e-commerce trends going a certain way, there are more lucrative areas than others. Where will your cash cow lie?

Automotive could be the biggest money-maker with revenue in the online retail space growing 89% in 2013 compared to 2012, according to analysis from e-commerce software start-up Bigcommerce.com based on its 50,000 customers. The increase in automotive sales is being fuelled by demand for aftermarket parts and accessories.

If sourcing car parts sounds a bit challenging to you then jewellery and accessories could be the way to go. The category has seen a 31% in revenue per store. Fashion has seen a 4% dip and has become more and more competitive so jewellery and accessories, which enterprising creative people can make themselves, is a path in for online retailers looking to establish themselves.

Avoid venturing into books, music and movies, these categories have dropped 14% year-on-year thanks to competition from the likes of iTunes, Netflix and Amazon.

Bigcommerce.com co-founder and co-CEO Eddie Machaalani said: "It's never been easier to set up and run an online store, so many Australians are actually running a hobby business to supplement their regular income. There are a growing number of Australians who are moonlighting - they're running an online store despite currently working in full-time and part-time roles.

"On some occasions, these 'hobby stores' end up becoming so big that the owner ends up quitting their day job to concentrate on their store."

Mr Machaalani added that women on maternity leave often started online stores.

###