One of the most common roadblocks new online business people run into is finding a niche. So today we are going to help you get unstuck with these niche market ideas for your e commerce store.
If you are thinking about starting an e-commerce store, one of the most important things you need to do is find a niche.
The internet has forever changed the way we buy and sell things. While it has put many local mom and pop shops out of business, it has opened an infinite number of doors for online business opportunities.
It has changed the game. Unless you have a billion dollars laying around, you can’t compete toe to toe with Amazon. That’s where the niche comes in. If you want to start an online business, you have to find a niche to survive.
The success of an e-commerce venture depends on the right niche for the market. To find the right niche, a business must identify what the customer wants and they will figure it out if they know the customer needs. The main purpose of a niche market is to provide a service or product that is not being addressed by common providers. So businesses must find something that is unique and at the same time helpful in order to have some edge among competitors.
A niche market is crucial because choosing the wrong niche could be costly. Thus, we presented some niche market ideas that will make your e-commerce store successful. Let’s take a look.
Here are the top niches that you might consider for your e-commerce store along with their advantages and disadvantages.
Natural And Organic Beauty Products
Natural and organic beauty products are becoming popular among people right now. These kinds of products have become more common in the marketplace due to the consumer’s awareness about health and wellness. Also, it is said that organic and natural beauty is predicted to become a 2 billion-dollar industry this 2018 (e.g. organic soap, natural face mask, body scrubs, deodorants, etc.).
If we talk about the advantages of the natural and organic beauty products, it is said that it helps to protect our body against harmful chemicals and it is a good help to make our skin and body healthier. On the other hand, these products are more expensive than the non-organic products. Also, organic beauty products such as makeup are never water resistant, have fewer color options and short-term when used.
The booming industry of baby equipment will always be a high demand because it is evident that there are many babies born each day. The baby equipment niche (cribs, diapers, strollers, swings etc.) targets parents as well as extended family and friends who may possibly purchase baby equipment for the baby shower.
As a matter of fact, baby equipment is advantageous and it is always needed by the people but if we talk about its disadvantages, it includes pollution and it can cause flood due to some malpractices like throwing diapers on the sewers. Nonetheless, this niche is still timely and ever needed.
Vitamins and Supplements
People are shifting to healthier lifestyles nowadays, and as for businesses, the market for vitamins and supplements is expected to grow more. As a matter of fact, supplements and vitamins are good products for regular income for the reason that they are long-term, consumable and need to be regularly reordered. Hence, you can get paid every month from the same customer when they continue to order.
On the other hand, selling supplements and vitamins are not as strictly regulated as drugs but their effectiveness may not be as dependable and it can also interact with medications, which can cause unwanted side effects. However, when choosing products to sell, try to focus on plant-based and organic products because that’s what people want and they are safer.
Handmade craft niche targets those people who are looking for a unique gift or product by selling authentic handmade crafts. This niche includes home décor, local artisan goods, jewelry, bags, purses and any other unique crafts. Usually, the quantity of handmade crafts and goods is limited, which means that competition will be lower and aside from ready-made crafts, you can also sell craft supplies.
The good thing about this kind of business is that you can work from home, this is your hobby and your craft is definitely unique. But the disadvantage of this kind of business is that your products must have high exceptional quality, making craft is time-consuming, and you might get tired of doing the same craft again and again.
Grooming products for men
As we all know women are more conscious about how the way they look. But as what we see in commercials, there are many grooming products for men which indicate that men are also conscious about their appearances. Actually, the industry for grooming products is projected to be a $43.6 billion market by 2020. Men take care of themselves now more than before and the industry for grooming products (beard oils, anti-aging creams, moisturizers, razors etc.) is still emerging. In contrary, when you plan to sell grooming products, be sure that it is high-quality and safe.
Selling subscription boxes are booming right now and the idea for subscription box is so simple. The customer will subscribe a certain fee that differs from monthly, weekly or day to day basis, and they will receive a range product they prefer on a regular basis. This kind of business is good for the seller due to its high customer lifetime value and the income is predictable. But there are also drawbacks to having some problems with the customer preferences regarding the contents of the subscription box.
Pets are considered as members of the family and almost all households in the world have a pet inside. Selling high-quality food and treats, as well as supplements for older pets and accessories will continue to trend this year. Just like the other niche market mentioned a while ago, pet supplies will give recurring profit to you and you can have a variety of products to sell in relation to pets. On the other hand, the drawback of this kind of business depends on the cost and quality of the products rendered.
In marketing, targeting the right consumers is one of the best approaches to gain success in your business and this applies to e-commerce. It is also evident that there are many competitors out there but a one-of-a-kind and exceptional niche ideas, in a certain market is one of the best advantages you can gain to create a booming business.