7 business models ruling ecommerce with their uniqueness

Photo credit: Sergey Klimkin.

In our dog-eat-dog world of business, it’s more about the process than the product. Every business is striving to do something unique: solving a pain point that is yet to be figured out or finding a different way to perform important or complicated tasks. There are also a few businesses that go the extra mile, adding creativity to their ideas.

These businesses find success by taking advantage of a niche market with an interesting business model. If you want your business idea to stand out and succeed, you better have a value proposition and diverse revenue streams, along with loads of creativity.

Here’s a list of unique business models that are creating compelling value in the market:

1. Skillshare

Launched by Malcolm Ong and Michael Karnjanaprakorn in 2011, Skillshare is a learning community where anyone can discover, take, or even teach a class. It is an education marketplace that charges US$10 per month and follows a buffet model. It started with an a la carte model wherein experts and anyone could attend the class for US$20 or US$25.

What’s unique about their current model is that, unlike most startups in education, Skillshare does not just employ professors from topnotch universities who hold fancy degrees but also multi-talented experts of various subjects. They leverage the intelligence and expertise of non-professors to create a massive intellectual marketplace.

2. Stitch Fix

Founded by Katrina Lake, Stitch Fix is a personal styling service for men and women that blends expert styling (with over 300 part-time stylists), proprietary technology, and a unique product together to deliver a personalized shopping experience.

Through a style profile that users fill out,  the company can understand their customers’ size, style, shape, budget, and lifestyle. Stylists use these pieces of information to offer a range of clothing and accessory items. Users buy what they like and return the rest.

Stitch Fix’s uniqueness lies in their exclusive business model; no other online apparel store offers this kind of retail experience.

3. Warby Parker

Launched by David Gilboa, Neil Blumenthal, Andrew Hunt, and Jeffrey Raider in 2010, Warby Parker is an American brand that sells prescription eyeglasses and sunglasses online, and now offline, too.

It started off with an ecommerce model but later expanded to having brick-and-mortar stores that outpace Tiffany and Co. It also has pop-up stores in America’s coolest locations—from The Standard to Alchemy Works.

What’s unique about Warby Parker is they’ve changed the way people see an industry by eliminating the middleman (especially a behemoth one like Luxottica) and adding low pricing, trending, feel-good, and social good factors to gain their customers’ interest.

4. Uber

Who doesn’t know Uber? Founded in 2009 by Travis Kalanick and Garrett Camp, this nontraditional cab business doesn’t have a rocket-science business model. Many of us already know that they don’t employ in-house cab drivers and own any vehicles. They only connect passengers and drivers with each other in exchange of a small percentage from the total fare. Users only need to download the app to enjoy the service, and drivers get to use their own cars to provide the service.

Despite being challenged by governments, cab companies, and cab drivers’ unions around the world, Uber still managed to make nearly US$500 million in 2014 and maintains its presence now in over 500 cities worldwide.

5. Airbnb

6. Rent a Runway

7. Lunchspread

In summary