As cliche as this may sound there are plenty of ideas for you to make money online you just have to know where the money is.
Truth be told, the money is anywhere you decide to go. That said, you have to know the right products you can get the most out of in your niche.
Online business is lucrative at the moment. Everyone is turning to the internet for every little thing they need.
Brick and mortar stores might be fine with their clientele but they too need an online store to keep them competitive.
If you’re thinking there is money to be made in ecommerce but find yourself stranded about what business to go with, worry no more.
In this piece, I will delve into the different niches making money for online merchants right now but before that, you need to know why niche products do so well.
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Why niche products are the best?
That is the Million Dollar Question!
Ecommerce is an ever-changing industry meant for forward thinking merchants who are able to leverage all the tools at their disposal for the benefit of their business.
Online merchants have to be keenly aware of what their prospective clients want from them. A smaller target market offers a lot more benefits in this regard than offering a catalog of items spread out in different niches.
There are tons of possibilities for you to introduce new products to your clientele and encourage sales as well.
The main aim for targeting a small niche is building a community around your type of business. Ecommerce today is about getting people with the same interests to buy a specific set of products from you. This allows you as the seller to become an authority in your chosen niche as you amass a following.
As the business grows, you slowly begin to build brand loyalty. Your reputation grows and soon you become an expert in your niche. It is easier to build your credibility and gain your customers’ trust offering them products that go together.
Niche Down & Get Specific!
Niche products are aimed at a specific group in the market that you can devise a targeted marketing scheme to reach out to. For this reason, your marketing strategy is not meant to reach the masses it only has to appeal to a certain section which is much easier and cheaper to plan for.
Here are some of the niches that are doing well in E-Commerce online ;
Baby equipment will always have a ready market. Everyone has a baby item they are looking for online.
It is not a niche target only to parents; friends and family of the parents are also looking for baby items online.
An online store selling strollers, swings, cribs and the likes will attract all types of visitors.
Authority sites in this niche are raking in huge profits yet there is so much business to go around that even the less popular sites can still thrive and meet an ambitious bottom line.
This is probably the most difficult but the most profitable in my list. This is one niche that shows how the online market is searching for the non-mainstream products. Online merchants that venture into the not-so-popular products have real potential to grow their businesses.
When it comes to craft drinks, you can count on both specialists and regular clients to visit your site. Beer, wine, whiskey, cider and any other beverage you can think of all have artisanal drinks that need special ingredients to come up with.
A business supplying such products can quickly rise to become an authority. Additionally, such an online site is loved for the connections it facilitates between customers and producers.
Subscription boxes are popular because people don’t want to go the store to buy the same things anymore when they could have them delivered with a schedule. It is changing the way people shop for staples on the internet. You could pick pet supplies, socks, books or whatever else you want, the options are virtually endless.
They are a great idea for an online business since they encourage repeat purchases, something that online merchants are still trying to figure out.
Men’s bathroom products
You are used to hearing about success in women’s cosmetics but who knew men’s grooming products would be big too?
The self-care niche has grown to accommodate men’s grooming products and interestingly, there are niches within the niche!
Beard oil is one particular niche that is steadily growing. Online stores offering different brands of beard oil are attracting a lot of customers, probably because it is no longer restricted to have one in the office.
A decade ago, virtual reality was only a fantasy for the layman and an exciting thought for the computer geek. Today, it has become a mainstay and you can count on the market for VR accessories to grow. Tech companies are currently trying to apply it in any way they can just to see how far it can go.
The new and exciting technology is a hot cake and everyone wants an experience with VR. Whatever you choose to go with, you should remember, however, that quality will always matter over price. That’s how it is with any tech gadgets.
There are a lot of niches to be explored here. Online shoppers are looking for specific kinds of foods to suit various diets. Your online store could focus on options like gluten-free, vegan or organic foods.
The best thing about it is shoppers are willing to pay more for such food products than they would pay at the supermarket.
All business is risky and choosing one to stick to can be a tough decision. However, this is not enough of an excuse not to try your hand at ecommerce.
You can start your online store with little to no money and grow it as you build your clientele.
The key to success in a case as this is going with something you are passionate about. There is a lot to be done before you can gain the trust of your customers and get them to buy from you repeatedly. If you pick a niche you have zero interest in, you might find it tough to keep up.
Check out 7 Figure Cycle, by my friends Aidan Booth and Steve Clayton – more information on that is coming January 17th, so check back then! 🙂