5 Ecommerce Niches Where You Can Make Serious Profits in 2020
Technology has made it easier for anyone with internet access to start a business and it seems like everyone and their cat has a website these days.
Do you want to get in on the promise of success in a global marketplace, but don’t have a product or service to sell?
You can tap into an existing market in a way that serves an underserved segment or improves upon what’s already out there.
We’re talking about niche marketing, Ecommerce niches and the endless possibilities it holds.
What is Niche Marketing?
Niche marketing involves identifying and catering to a specific segment of an existing market.
It could mean selling a product or service that enhances the enjoyment of a more general item, introduces a new element to an existing market segment, or creates a new trend within an industry.
However, marketing to a Ecommerce Niches involves more than just putting up a website and waiting for the traffic to come pouring in. You need passion, insight, a plan, and a product.
Ecommerce Statistics
If you need some incentive to get you off the ground running, consider these surprising eCommerce statistics.
1. Women may be perceived as busiest shoppers, but men outspend them by a rate of 68 percent more per transaction. What market niches might best serve this demographic?
2. Most marketing articles focus on large demographics, like millennials or boomers. The truth is that the most active online market is Gen X-ers, who average 19 online purchases per year. What does this demographic need, and how can you deliver it?
3. In 2019, online sales accounted for almost 15 percent of all global retail sales. That number is expected to increase to more than 26.8 percent of the expected 8 billion inhabitants of our planet within the next few years. What are the ways that you can tap into this potential?
4. Many online purchases originate from a mobile device. That are investigated further on a laptop or PC, and completed from a range of devices. How can you leverage these technologies to market and serve your niche?
Those numbers should not only inspire you to brainstorm business ideas, but they should also provide a guidepost to steer you toward a potentially lucrative pool of leads.
5 Niches You Can Leverage Today
There are many saturated eCommerce markets. However, there are just as many angles and opportunities for mining an untapped niche within a thriving industry.
The wider markets below are among the fastest-growing sectors, and they provide many possibilities for building an audience of loyal, enthusiastic long-term customers.
Some allow you to act as a middle-man through drop-shipping existing products, while others involve creating a product or service you can successfully market and sell to a refined market segment.
#1 Health and Fitness
On average, adults spend nearly $155 per month on health and fitness products. Overall, this is a $30 billion a year industry.
This proves that people won’t hesitate to spend money on their well-being.
Possible niches within this industry include everything from supplements and beauty products to writing nutrition advice and or marketing wellness services.
#2 Parenting Tips and Aids
When you’re a parent, nearly everything in your life revolves around your children.
A child’s formative years extend from birth to age 18. That’s a long stretch of marketing opportunities to identify and reach this renewable market; babies are born every day, and they all have needs as they grow.
You have new parents are looking for advice, older parents searching for ways to handle teen angst or college planning.
Health and nutrition is also a niche within this wider market. You can investigate niches involving childhood illnesses, education, entertainment, and development.
#3 Pet Food and Supplies
Next to children, fur babies generate a lot of sales. Today’s pet owners are interested in more than just meeting nutritional needs.
They care about pet health, emotional well-being, and behavioral issues. This provides marketing opportunities in pet supplements, grooming, training, and pet/parent leisure time.
#4 High-Tech Gadgets
Life in the 21st century is ruled and regulated by technology, It’s part of our work, education, and social fabric.
With every new advancement or piece of technology comes the need for accessories and services that make it easier to incorporate and enjoy.
This is a big marketing opportunity for men with disposable incomes, techies, and families with children.
#5 Subscription Boxes
Everybody loves a well-planned gift basket. Why not go one better by starting a subscription service?
This is one of the most flexible, scalable business opportunities for budding entrepreneurs available today.There’s low overhead, a high potential markup, and literally thousands of ways to serve a niche.
You can offer all kinds of products—from those that enhance people’s lives, help them stay organized, or just allow them to indulge a craving.
Not only will you serve whatever niche you choose, but these services also provide an ongoing, renewable revenue stream.
Finding and Building Your Audience
Once you’ve found your Ecommerce Niches and identified your audience, you need to craft a comprehensive marketing campaign that will draw them to your website and convert leads to customers.
In order to achieve that goal, you have to reach consumers where they live and address the things that motivate them or promise a solution to their problems.
Technology will be a huge help in this area. You have a range of digital marketing platforms that can be optimized to target your ideal audience and shape the buyer’s journey.
Many of the above eCommerce niches are compatible with establishing social proof and trust-building techniques. For example, you can build trust and solidify your brand through social outreach.
Since we have already mentioned parenting tips as a lucrative niche, new parents nowadays love getting help from parenting apps since they help track the baby’s progress and give tips on child development and learning.
You can use these apps for marketing by running advertising campaigns on them that will lead them to your services and products.
Even those who don’t have children themselves have parents in their lives who could use a little help. This explains the popularity of Mommy blogs and eCommerce platforms that cater to parents.
The point is to know your audience. Then, you can demonstrate the ways that your product or service will improve their lives, and do it better than the competition.
Final Thoughts
Ecommerce Niches ideas for startups are limited only by your imagination. For every product or problem, there’s a solution.
It’s your job to unearth the buried market within an existing market and transform it into a viable business opportunity.
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