In an industry where the ocean is large enough to care for everyone. You need to strategize how and where you want to draw your own portion.
Starting a Shopify store requires that you know what product or service your store wants to be known for.
“Traditional wisdom says that you should focus on one startup,” says Sharad Seth a co-founder of CommunityZapp. Having a niche market to concentrate on will help you get all that you can from the e-commerce industry.
When you give your attention to building one business at a time gives you a higher survival and success chance. It is however possible that your Shopify store sells more than one market niche product.
Giving your energy to a niche will bring out the result your desire and also the chance to expand within your niche to reach the needs of your customers or target market.
There are limitless niches that are profitable and good enough for you to explore. We’re here to help to find a niche market you can focus on as your start your Shopify business. First, let’s begin with what a niche market is.
What Is A Niche Market?
A niche market is a market characterized as a segment of a wider target market who are likely to purchase a specific good or service due to shared qualities.
By the unique demands and tastes of its participants, almost every market can be further honed or segmented. In order to define a niche, some of the most popular methods include:
– Demographic (age, race, culture, income)
– Psychographics (actions, attitudes, goals, thought patterns)
– Firmographics (market size)
– Geographic (residents population of target location)
– Quality level ( basically good type: premium, handmade, economical)
Within a larger target market, you may be attempting to reach, niche markets are composed of small, highly focused groups. Finding a niche market and learning all you can about it give you the ability to:
• Create goods and services that cater to the specific requirements and preferences of your niche.
• Through your marketing messaging, demonstrate compassion for your niche.
• Competing against bigger brand
• Establish yourself as the dependable “go-to” brand for the particular service you offer, and you’ll eventually draw in more clients.
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5 Examples of Shopify Niche Market With Products You Can Sell
Each year the number of people who decides to go on vacation or visit other countries due to work or for pleasure is on the increase. More than half of these people who desire to visit other places don’t know how to find places that soothe their quest.
This is a niche that needs more organizations that can help ease the search problem faced by travelers. To be extensive, brands can include environment-friendly options as people explore their travel locations.
As stated by StoreLeads Shopify stores in the Travel category have increased by 5.4% in the first quarter of 2022.
The travel niche also offers a wide range of products that includes accessories and everything a traveler needs. This is enough reason to say this is a niche with profitable potential.
Examples of travel stores on Shopify:
2. Conscious consumers
Conscious consumers are those who identify with using items that help keep the climate sane. This includes veganism, and environmental sustainability, which are becoming more common thanks to the growing number of conscious consumers.
There is probably a segment of environmentally conscious consumers that will choose the best alternatives for an item that is routinely purchased by the mass market.
Bee’s Wrap is a brand that seeks to replace plastic wrap with alternatives made of honeycomb. This all-natural food storage option is not only better for the environment, but also saves consumers money because it can be used multiple times.
Niche product examples:
• Recyclable drinking straw
• Cruelty-free cosmetics
• Veganism-friendly apparel
• Menstrual cups
3. Telemedicine Physicians
Telemedicine physicians are physicians involved in offering medical and other health-related services using technology. This is bringing health care services closer to a distant patient.
Consider telemedicine doctors as a more specialized subset of healthcare professionals, who are also more specialized subsets of remote workers.
With regards to how much dedication they have towards patient safety, telephysicians share traits with members of the healthcare industry. Also, they exhibit similar traits to remote workers, such as comfortability with technologies and a demand for flexibility in their routines.
4. Pet Owners
In regard to various pet breeds, lifestyles, and other factors, there are numerous potential to carve out a position in this industry.
In this market, existing stores in this niche offer item that include organic products to flea and tick repellent, outdoor equipment, toys, and beds. There are many unusual pets, including horses, lizards, turtles, and even chickens, each with their own potential benefits, though most people keep fish, dogs, or cats.
Examples of Shopify Stores in the Pet Niche
Products in the Pet Niche: Pet cameras (to monitor animals when you’re not home), Pet GPS trackers, meals, clothes, and apparel
5. Remote Workers
This is the fastest-growing market niche. Remote jobs have become a thing since the 2020 pandemic that has shaped businesses to give their staff the chance to work from home.
One benefit of allowing employees to work remotely is an increase in productivity and job satisfaction. These workers are more engaged and twice as likely to put in up to 40 hours each week. And those who choose to work for themselves often want greater independence and a better balance between work and life.
A business idea for providing services to this niche market is to provide a freelance shop where you advertise what you do and find a job.
You can also find product ideas to assist these remote workers and the businesses that hire them in achieving their goals by keeping in mind their motivations and lifestyles.
Products in this niche: laptops, desk accessories, laptop accessories, etc
How To Find Your Own Niche Market In 2021
1. Pick a Niche – Choose a niche you would like to get into
2. Narrow down from broader categories – identify the specific subsets of this niche according to their characteristics.
3. Choose keywords to search for in the niche market – with this you can discover the problems solved by each of the subset niches by typing the niche market or its subset into the search engine.
4. Explore Social Media Forums – Going through social media communities will help you get more information about the market and how to explore market potential.
5. Collect statistical data – You can evaluate your niche market’s size, income level, and other buying parameters by using statistical data about or applicable to it. Your next step in niche marketing could be decided using this knowledge.
6. Study Market Competitors – Gathering information about competitors in a niche will help you analyze their strengths, weaknesses, opportunities, and threats and use the result to your advantage as you enter the market.
7. Consider niches that are expanding quickly – this would be of good help in times when you need to expand the products you offer.
Knowing the niche you are about to enter gives you the needed information and how to find your way around as you start your store. Before jumping into selling a product, find out about the niche and how profitable it is.
Find your niche now and follow the guide as provided in this article and get the best result and information about your niche that you can ever get.