Benefits of Selling a Niche Product
It may be tempting to offer customers a whole catalog-like selection of products, especially if you are using a dropshipping business model in conjunction with Fulfillment by Amazon. This combo makes it incredibly easy to list and fulfill a lot of different products, especially if you’re using inventory management software to automate order routing.
But there are some amazing benefits to keeping your product list short. Here are some of the advantages of selling niche products.
It’s easy to get pulled into working with customers that take up your time and money. When your niche is well-defined, you can focus on selling to shoppers that are the most profitable for your business.
Lower Marketing Expenses
Because niche products cater to more specific target audiences, your marketing doesn’t have to appeal to the masses. This makes it much easier to create and optimize your overall marketing strategy.
Build Customer Trust and Brand Loyalty
As your ecommerce business grows, you will begin to develop a reputation as an expert in your niche. When you focus on delivering a great product and brand experience in one niche it is easier to build trust, credibility, and brand loyalty with customers.
You’ll find that there are fewer businesses selling niche products than general items, which helps a lot when it comes to gaining market share and figuring out how to gain a competitive advantage.
Trending Ecommerce Niches of 2017
Here’s a short list of the trending ecommerce niches of 2017 that will likely give way to new business opportunities and niche product offerings.
- Baby Equipment – No matter what is happening in the world with the economy or in politics, babies need to be taken care of. The baby equipment niche (cribs, strollers, swings, etc.) targets parents of babies, of course, but also aunts, uncles, grandmothers, grandfathers, and friends of the parents.
- Self-Care Products and Cosmetics – These products are a big deal right now. Specialty items like scented body wash and lotion, grooming kits, makeup, essential oils, and many others are selling like hotcakes. Organic and eco-friendly alternatives are selling big as well.
- Craft Supplies – In the age of Pinterest and how-to tutorials, you can see why craft supplies is a growing niche market. Just about everyone has some sort of DIY hobby these days, and they need the supplies to do it.
- Food – This may not seem like it would be a niche market, but it is. That’s especially true of specialty diet options like vegan, gluten-free, and organic food. The area that is going to have the biggest influence in consumer buying in this niche is convenience. Most customers who buy food online are willing to pay more for the convenience than supermarket shoppers.
- Clothing – Recent ecommerce trends have shown that there is a huge demand for online clothing stores. Some of the popular trends in clothing are androgynous clothing, plus-sized clothing, and petite clothing that doesn’t look like it was made for a child. Also, there is a trend in big and tall clothing for men, as a lot of brick-and-mortar stores in that niche are closing.
- Subscriptions – Subscription boxes are big right now. You’ve probably heard of monthly snack boxes, pet supplies, books, even socks, that are delivered at regular intervals chosen by the customer. These are an easy way to begin an ecommerce store because they are easy, popular, and encourage repeat customers.
- Men’s Grooming Products – Men are not to be left out of the self-care niche. They take care of themselves now more than ever. And that shows in all the websites that are popping up. They cater to men, providing grooming products, beard care products, dollar razors, and more. Get in on this market before it reaches its saturation point.
How to Find Your Ecommerce Niche And Product
Still don’t know what to sell? There are some easy ways that you can research the viability of products and see what might work best for you.
If you’re not certain about the feasibility of selling a product, you can find out its popularity by entering it into Google Trends. The tool is free and it gives you an overall picture of search volume, trends over time, and whether its popularity is on the rise or the decline.
Find Online Marketplaces’ Popular Products
It’s easy to find out what the best sellers are on sites like eBay and Amazon. Regardless of what sales channels you plan to use, conducting market research on two of the world’s largest online marketplaces will help you understand which types of products are doing well.
Look to Ecommerce Niche Influencers
This may take more time, but you will find valuable information. As you are researching the products that you are considering, you will begin to run into the same names and companies again and again. It’s likely that these are influencers within the niche you are looking at. Pay attention to them. They probably have blogs and social media articles that discuss specific products and trends. See what they are talking about – you may just find your niche product there.
Read Trend Publications and Blogs
There are a number of trend publications and blogs that you can subscribe to. You’ll find information about trending products, business advice, and be better able to determine what people are buying online.
Here are a few options:
While there isn’t a publication or blog that is going to tell you what you should sell definitively, these will help you become more informed so you can make the best decision for your online store.
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