If you're planning on selling a product, look for a web host that offers a Secure Sockets Layer (SSL) certificate, because it encrypts the data between the customer's browser and web host to safeguard purchasing information. You're probably familiar with SSL; it's the green padlock that appears in your web browser's address bar as you visit an online financial institution or retail outlet. A few companies toss in a SSL certificate free of charge; others may charge you roughly $100 per year for that extra security layer.
Shared hosting is web hosting in which the provider houses multiple sites on a single server. For example, Site A shares the same server with Site B, Site C, Site D, and Site E. The upside is that the multiple sites share the server cost, so shared web hosting is generally very inexpensive. In fact, you can find an option for less than $10 per month.
If you're not sure of the type of hosting your business needs, you might want to start small, with shared Web hosting. You can always graduate to a more robust, feature-rich package of, say, VPS hosting or even dedicated hosting in the future. Unfortunately, some hosts don't offer all hosting types. Consider how much you expect to grow your website, and how soon, before you commit to anything longer than a one-year plan. It's worth spending the time up front to make sure that the host you select with is able to provide the growth you envision for your site, as switching web hosting providers midstream is not a trivial undertaking.