Launching an online store always feels like a new experience, no matter how long you’ve been doing business. However, most sellers fail to realize that offering a niche product is far more beneficial than providing potential buyers and prospects with numerous confusing products.
So what a niche product is? And how can you find it? If you are looking for answers to these questions, here’s a comprehensive guide to clear all your confusion.
What is a Niche Product?
A niche product is unique and serves a particular customer base. The items are mostly exclusive, fulfilling a well-defined customers demand.
It becomes simple to reach your potential customers when you’re offering niche products, as the target audience is crystal clear.
One of the excellent niche products examples is “shapewear.” The item is made for customers who prefer to have a fashionable figure when wearing any clothes of their choice. The product temporarily alters the wearer’s body shape to fit the dress to feel confident about their appearance. Although the product is available for unisex, it is more prevalent among plus-size female customers than men.
The above example demonstrates when a specific product (shapewear) has a great demand among a specific pool of buyers (plus-size men and women) along with problem-solving features (giving a fashionable figure), it is categorized as a niche product.
So if you are providing a niche product, you’re helping customers get what they actually want. And without any second thought, they would visit your online store, as they know they will receive the “right product.”
Why Should You Find a Niche Product?
1. Less Competition
Compared to general items for selling, offering a niche product narrows your competition. And you only have to compete with those businesses that include similar items as yours in their inventory.
2. Complete Focus
Another great advantage of a niche product is that you can focus on satisfying a particular group of potential buyers instead of understanding different customer behaviors.
You can create customer-specific strategies for branding and pricing to attract more potential customers to your eCommerce store.
3. Loyal Customers
When you have a niche product to sell, you can concentrate on fulfilling your brand promise. As a result, offering a high-quality niche product to buyers will help you convert potential customers into loyal ones.
4. High-Profit Margins
If you are able to select a high demanding niche product with a fewer competition, the chances are that you can enjoy maximum profit margins on selling each unit. Why?
It is because you will be one of the few sellers of that specific commodity, and buyers would not hesitate to pay a sensible price to get the product.
How to Find Best Niche Products?
Here are the few but authentic ways to find the best niche products to sell.
1. Look for Problem Solving Products
Ask yourself if the product you’re offering can solve the problems of your potential customers. Keep in mind that it is not necessary that your offered niche product needs to be complicated or enormous. A pretty simple but effective product can do wonders.
Case Study: Decibullz
Kyle Kirkpatrick, the former Gymnastics coach in the US, designed earbuds in 2014 to make sure that athletes were not distracted when listening to music during their practice.
He launched his own brand, Decibullz, which offered earbuds to fit the ears comfortably and don’t lose their place, whether the athletes were running or performing flips on the trampoline. Previously, the product was available, but it was expensive and unable to solve the problem.
However, Kirkpatrick solved a problem by offering a niche product to a specific audience in the beginning. And now his company offers hearing protection devices, attracting potential buyers from other segments, such as public safety and security people.
This case study is one of the best examples of working on a niche product that can enhance your business.
2. Search for Products with Branding Potential
While thinking of the best niche product, you must assure the item you have in your mind can become a brand. Remember, branding differentiates your product from other sellers offering the same commodity. Plus, it allows you to build customer loyalty and trust.
Also, you should never forget that a brand is not just colors and logos, but even a sense of pride it gives to the buyers. This is one of the leading factors, which make the product – a brand.
If the buyers think that the product would embarrass them by any means, they would not add it to their cart or at least think twice before buying it. For example, a female urination device. Although a helpful product, still hard to brand.
So ask yourself if the niche product is exciting enough appearance-wise to attract customers? Does it include all the aesthetical features, making potential customers feel proud in consuming the product? Can the product be rebranded using your own style and theme?
3. Target Niche-Specific Customers
You should brainstorm a product idea that could increase the buying intention of the target audience. These potential customers will indirectly help you market your niche product through reviews and ratings.
Likewise, when you have a niche audience, you can communicate and create related content for interaction without confusing yourself and the audience. And doing so will help you get a highly converting and highly-engaged customer base for your product, as you will be delivering information to the correct audience.
4. Identify Popular Products
If you know some popular products, you can add them to your niche product’s list and offer them to the buyers. For instance, face masks have been prominent since 2020. However, this niche product is now oversaturated and has a low-profit margin.
But, the entire point of using these examples is to make you brainstorm for famous products, benefiting a limited niche audience.
5. Products Satisfying Desires
Your aim should be of fulfilling guilty pleasures. Why? Because most shoppers want products, which makes them feel good. And it really doesn’t matter what shape the niche product is in; as long as it makes potential customers happy, your profits will keep growing.
6. Find Product through Keywords
Undoubtedly, the organic traffic that comes from search engines generates more sales. That means, when people search for a certain product (technically referred to as keywords), the search engine, like Google, shows them the list of stores selling it.
So knowing what people are frequently searching for can give you the best idea to find a niche product for your eCommerce business.
Looking for keywords means you are strategically looking for a commodity based on the customers’ search queries. And by using keyword tools, such as the Google Keyword Planner, you can also see the number of searches for that product every month.
7. Read Customer Reviews
This is one of the most important ways to find the best niche products. You can use customer reviews to decide whether or not a product could be beneficial if you offer the same thing to your potential customers.
Since you’re finding a niche product, the platforms to see customers’ ratings and reviews about any item are by going to big eCommerce platforms, like Amazon and AliExpress.
For instance, you can search for “Bluetooth Speakers” on Amazon and see what customers think of this niche product after using it.
It is suggested to use these platforms because the reviews are genuine, as only verified buyers can share their experiences about their purchases.
8. Research Products with High-Profit Margins
It’s a standard rule that expensive products are more profitable. But if you have a limited budget, you can look for low-cost products, leading to a high return on investment. However, low-cost product doesn’t mean selecting cheap quality commodities.
if you have a good capital amount, you can choose a bit more expensive but profitable products, as they assure high-profit margins compared to economical items.
9. Products Triggering Emotions
Emotions play an essential role in the lives of buyers and sellers. They make potential customers buy products based on emotional motives and allow businesses to become providers of such products.
So, your niche product should have at least a few of the following emotional product purchasing motives, such as:
- Praise
- Pride
- Fashion
- Comfort
- Affection
- Vanity
- Jealousy
- Habits
- Appearance
- Attraction towards the opposite gender
The emotions mentioned above are the reasons, which can make a potential buyer trust your niche product. For example, women wear lipstick to look good. Similarly, some men prefer suits to look appealing.
However, the hidden motives could be making someone jealous, looking fashionable, or attracting the opposite gender. And eventually, these buyers search for products to fulfill their demand.
List of Profitable Niche Products
1. Anti-Cellulite Massager
2. Subscription Boxes
Many start-ups are following the subscription-based eCommerce model. And because this business model permits its customers to subscribe to products they need daily, more and more subscription boxes are required to fulfill the demand.
One of the best examples is the meal kit delivery services, such as Hello Fresh in the US, which provide partially-prepared or pre-portioned food recipes and ingredients in subscription boxes to make homecooked meals.
3. Shapewear
Shapewear is one of the fastest-growing niche products of the year and is likely to gain more demand in the future. The majority of the order for this item comes from women between 18 and 45-years-old.
4. Portable Electronic Hairbrush
The portable electric hairbrush has become an immediate internet sensation. This niche product has great demand among its potential customers because it is lightweight, and buyers can take head massages regardless of time and place.
5. Rolling Balls for Cats
Plastic rolling balls are one of the famous cat toys available in the pet toy niche market. While cats are super lazy and hard to impress, owners love to buy this niche product to keep their pets entertained and active.
6. Eyelash Extension
Eyelash extension products are a unique product aimed at the female market. It is luxurious, natural, and customizable. This product works well and easily to create a glamorous makeup that reflects a woman’s personality and charm.
7. Jade Rollers
Jade Rollers are beauty tools that have gained popularity in recent years. They are typically used on the face and neck to massage the skin and improve blood circulation. They are a popular choice for those looking for a gentle and relaxing way to enhance their skincare routine and promote a healthy, radiant complexion.
8. Baby Diaper Bags
A baby diaper bag is a trending niche product. It has multiple pockets to carry anything necessary for baby care. The demand for this commodity is increasing worldwide. You can sell this product on your eCommerce store or marketplace at a good profit margin.
9. Car Covers
Most owners prefer covering their cars to save them from bad weather conditions or harmful UV rays, as they damage the vehicle’s exterior. You can enter the market with this niche product and conquer potential customers by offering the item at low-profit margins to win the competition and expand your customer base.
10. Massage Guns
Massage gun is a mainstream niche product nowadays. It’s a handheld device with wireless charging features. And people are fascinated to buy this item as it permits them to have a quick full-body massage anywhere and effortlessly.
11. LED Strip Lights
LED strip lights are exemplary when it comes to decorating your home or workplace in a modern way. These lights can be fixed anywhere and light up the place in different colors. This niche product has a huge demand among all age groups and genders.
12. Matcha Powder/Tea
Matcha tea or powder is an alternative to ordinary green tea. This niche product has a high demand among the target audience due to its speedy healthy benefits, such as weight loss and improved brain functioning. Such characteristics make this product profitable to sell online.
13. Wireless Phone Chargers
The demand for wireless phone chargers has been grown excessively since companies like Apple and Samsung introduced wireless charging features in their smartphones. You can offer this niche product to potential customers, especially if you’re targeting the US market.
14. Pocket Squares
Pocket squares are important clothing accessories in men’s fashion. Although they are not popular in some parts of the world, you can still sell them in countries like the United Kingdom, Ireland, Australia, the United States, and Singapore and earn excellent profit due to high demand.
15. Men’s Engagement Rings
You can offer men’s engagement and wedding rings on your eCommerce stores, as this niche product attracts many female buyers around the world.
16. Art Supplies
Products like paintbrushes, canvases, paints and all other related products fall into this niche. Art supplies have always been in trend within limited potential customers. You can target a specific audience with this niche product and start making a profit out of it.
17. Party Supplies
Products like paintbrushes, canvases, paints and all other related products fall into this niche. Art supplies have always been in trend within limited potential customers. You can target a specific audience with this niche product and start making a profit out of it.
18. Bathtub Tray
A bathtub tray is a profit-making niche product as it allows customers to keep their tablets, smartphones, books, or favorite drinks on it while they have a pleasant and relaxing time in the tub.
19. Laptop Stand
Laptop stands have a high demand among professionals, as it helps them keep their laptop safely and allows them to work smoothly from home.
20. Moon Lamps
Moon lamps are remarkable, astonishing, and appealing niche products in the home décor category. The product has gained massive recognition within a short period and is expected to grow more.
Final Words:
We hope this article can provide you with some inspiration about niche products. If you have any questions after reading, please leave a comment below.
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