New Year = New Niches!
2020 is bursting with opportunity for you to make money off of the trending niches of the moment. Read on to find out which niches are going to be especially popular this year.
First off, What Is a Niche?
A niche is simply a small and specialized market. Essentially, niche markets are just more focused markets. The more you can narrow down your target customer group, the more niche you become. Niche stores may have less customers than large, department-style stores, but that’s the point. With less customers, you can more accurately optimize your sales strategies, especially when your customers have a lot in common.
Niche groups may be smaller, but niche shoppers tend to share characteristics and shopping behaviors. While “general” stores struggle to keep everyone equally happy — a niche store can focus on only keeping their specific group happy. In other words, niche store owners can more accurately optimize product selection, pricing, marketing, and every other aspect of their business
Here are some niches who’s popularity are on the rise in 2020:
1. Eco-friendly Everyday Products
Climate change has been on the forefront of everyone’s minds lately, including online shoppers. It is said that by 2050, the amount of plastic in the ocean will outweigh the fish in the ocean. To support environmental efforts, lots of new manufacturers are creating eco-friendly versions of everyday products. All consumers could benefit from replacing simple items we use in our everyday lives with environmentally friendly products.
There are many companies that have gained popularity recently for their focus on eco- friendly products. Some relevant industries are bath products (soap, face wash, razors, q-tips), kitchen accessories (tupperware, reusable water bottles, utensils, straws), personal hygiene (toothbrushes, dental floss, make-up removing wipes). There is also a huge rise in feminine hygiene companies creating eco friendly sanitary items for women.
2. Shapewear/Bodycon Apparel
Tight-fitting fashion items that grip the body to accentuate curves, known as shapewear or bodycon, are hot sellers. Fashion is always a niche industry divided by personal taste, but adding body image preferences makes it even more niche. When strategizing for digital marketing, you have to make sure the shoppers you are targeting have an established interest in these type of products, or else you risk offending them.
3. Weight Loss Items
On the heels of body-shaping garments, there’s another trending niche that takes a different route to arrive at the same, slimming results.
Specifically, cellulite removers are on the rise, namely those that use sonic lift technology. Although the results are inconclusive, brands are marketing these massagers as the long-sought solution to the age-old problem of cellulite. Aside from this new product, basic evergreen items like keto supplements or home gym equipment are still relevant to buyers.
4. Print-On-Demand Clothing
With modern technology, retailers are no longer chained to the model of storing inventory. One such advancement is Print on Demand (POD), which is likely to upset the low-end apparel market in 2020. POD clothing and apparel lets you target any variety of different styles, allowing you to really hone in on your niche. Because the apparel industry is already very saturated, it’s best to dive deep into a niche to reduce competition — fitness clothes, ironic T-shirts, animal prints, etc.
5. Marijuana and CBD Products
This entry is downright illegal in certain places – which can make digital marketing especially complicated. But if you live somewhere where cannabis is legal, you have a lucrative opportunity to participate in one of the most profitable ecommerce niches of the 21st century. Cannabidiol (CBD) oil is a medical product proven to remedy pain, anxiety, cancer-related symptoms, and even acne! Because cannabis legislation is fairly recent, the medical marijuana and CBD industry is one of the best niches to break into at the moment. CBD products are legal in most places across the U.S. and might be a great starting place while you wait for the other stuff to iron out. Just be extra careful about which channels and payment gateways you use, as some don’t allow cannabis sales.