Foolproof Strategies to Find Niche Market for Your eStore

So, once and for all, you’ve decided to start with your online store.

That’s great!

But have you thought about your niche market?

Earning income might be your motto but it all begins with targeting the right people with niche-oriented business.

Finding a niche actually means analyzing your target audience with a common interest, need, or problem.

If you choose a niche based on popular products or expensive products then you might be playing wrong.

For example, if you are planning to sell the latest iPhones as it is high demand as well as comes with a heavy price tag then this could be the wrong way at least to start with online selling as there is a cut-throat competition in this niche.

So this is not going to make you stand out.

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eCommerce niche

A niche market can either be broader or narrower.

However, an eCommerce niche is a narrower concept.

If the eyewear is a broader niche then round eyeglass is a narrower niche or if fashion is a broader concept then evening gowns are much narrower. Your niche is related to your brand, of course.

There is also micro-niche marketing where you can make your offered products narrower, as much as possible.

Now you must be thinking there are many eCommerce websites that sell almost everything.

Yes, stores like Amazon and Walmart sell everything but they already have a colossal marketplace, categories and not to forget is enjoying great success.

But, these stores are experienced, from the beginner’s perspective, it is wise to narrow your niche down and taste the success, step-by-step.

Once you’ve identified your niche market, there are chances of finding your target audience all over the world, so profits are sure to boost.

If you are finding it hard to identify your niche, here are some strategies that can help you out:

Have passion and knowledge

If you just start a business without passion then certainly it won’t succeed.

Most online starts, unfortunately, fail to make sales and earn profits due to a lack of passion and knowledge.

Before starting your online business identify your passion, and interest and gather some knowledge about it.

They are prime factors that help in establishing your online business efficiently.

You can start with brainstorming, create a list of passions that can help in creating your niche market, and once decided, study about it and gain as much knowledge as possible.

It may take time but will certainly aid you in running the online business.

Research your niche market

The product or the category of the product which you have listed in your passion list, conduct proper research on that.

Remember, if the people are alien to what you are selling or are not interested then there is no scope of revenue.

Whatever are you planning to sell, make sure it is in demand and the only way to know about is by conducting proper research.

Say, if you are thinking to sell pet-friendly items, you can perform a keyword search.

Check for the search volume and its competition.

Try to narrow down the keywords as it will help you to get more accurate results. Example – If your niche market is dedicated to pets, the more narrow search could be dog accessories, dog food, etc.

Competitor analysis

Before launch, checking your competition is quite significant.

Your potential customers or target audience might already be in favor of your competitors, you never know.

Hence you need to be aware of your competitors and keep a close watch on them.

You need to know what can be barriers in your path and how you can tackle them.

In fact, competitor analysis will also help you to improve your products, and make them more compelling for your audience.

You can enhance by either improving the product quality, making it more affordable, or offering something additional so that the potential customer can shift their focus to your business.

Identify the pain-points

With good quality products, customers always love the perks like free shipping, secured payment channels, and other such similar benefits.

These are actually the pain points too. You need to deeper and identify such point of sale pain points.

For each of the items, identify at least 3 to 4 pain points and see how you can solve them.

You can explore forums to know the issues faced by your target audience.

If you manage to satisfy customer needs along with delivering the product then your online business is likely to grow more.

Keep an eye on the trends

Frankly speaking, in the eCommerce business, trends should not be the top priority but keeping an eye on what’s trending might help you to kick off with an in-demand business.

Instead of falling for the fads, just use Google Trends which will assist you in identifying the genuine growing trends in your niche market.

You just have to analyze that whatever trend you chose, doesn’t fade away soon.

Last and final step

Now you have to work on all points together.

Identify your target audience, decide which category of products you would wish to sell, use your passion and get complete information about it, research, identify the problem area, see which trends suit you, and start executing and taking action.

Once all is done, surely you be ready with your niche and would be confident enough to kick-start an online store base on it.

There will be a calculated risk but as we all know the risk is part and parcel of every business.

Some market ideas for your eCommerce store

To make your task a bit easier, we have listed some topics, and categories as per which you can discover your niche market and start with your eCommerce website.