Are you planning to start an online business? Or are you an eCommerce veteran planning to branch out to a different market niche? Regardless, choosing a market niche can be tricky. To make things easier, here is the trending profitable eCommerce niche with low competition.
Before starting a business the first step you need to take is to choose a market niche. It pertains to a specialized market. The concept of market niche is classified into four primary categories. These include a market segment based on demographics (referring to individual characteristics such as age and gender), geographic (location of target consumers), psychographic (pertains to the interest, lifestyle, and personal thoughts of consumers), and pricing.
For example, women’s cosmetics are a broad market. It is divided into several niches, such as cosmetics for teenage girls, skin products for the elderly, and vegan makeup products. You may focus on one niche that satisfies your interest, capital, and target consumer group. You can gradually branch out to another niche once your business starts to grow and attract more consumers.
There is a myriad of eCommerce niches today. To help you find the most profitable niche, here are the top 5 trending profitable market niches for online businesses with low competition.
#1 Home Office Equipment
The COVID-19 pandemic forced working individuals to work from home. Likewise, students are introduced to a new modality of instruction. These changes prompted a new wave of market niche, which is office equipment.
Home office equipment is not entirely new; however, its demand and popularity significantly increased over a couple of years due to the work from the home trend. It seems the trend is nowhere stopping. The upcoming year is seen to be promising for this type of business.
#2 Men’s Beauty Products
The health and beauty industry is enormous. However, for many years, the focus of this industry is primarily on women. Now, the demographic of beauty products is branching out to a new demographic trying to deconstruct gender norms.
Men’s beauty products are a market niche that is growing steadily. The most popular men’s beauty supplies online are the good old shaving products, moisturizers, and lip balm.
#3 Eco-Friendly Products
Nowadays, consumers are more aware and careful when buying products. They are more conscious of the implication and harm of buying non-renewable energy, as well as non-biodegradable items. This global awareness resulted in the birth of a new market niche.
Eco-friendly products have become one of the trending profitable eCommerce niches this 2021. Market research shows that there is a continuous and steady increase in the demand for eco-friendly products. Its demand will likely grow more in the upcoming years.
#4 Home Sports Equipment
The health and wellness industry gained more traction over the past years due to health awareness. If you want to delve into this venture, a good market niche is indoor sports equipment. More and more people lead a more active lifestyle; thus, great for an online business.
#5 Smart Home Equipment
New technology is always welcome in the market. Consumers are consistently searching for smart home tools for convenience and efficient work. Smart home devices with built-in Bluetooth connectivity are likewise a good market niche in this age.