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How to Find a Niche for Your Business

How to Find a Niche for Your Business

What is Niche, and Why does it Matter?

Simply put, niche implies a smaller part of a broad market that focuses specifically on particular demographics, common interests, locations, or problems among the consumers. Think of it to be a submarket. For example, if we consider the automobile segment as a market, then a niche, in this case, would be the radial tires market or the pistons market.

Similarly, if we look at electronics, then a niche there would be portable mobile chargers or wireless earphones, and so on.

The idea here is to cater to a small segment of the population as it is easy and more profitable.

For your Amazon business (or any business for that matter), it is important that you look for a niche product. The competition you face here will not be as much as what you will face when you enter a broader market. Furthermore, from a customer acquisition point of view, you will need to focus on acquiring only a few people, let’s say 1,000, in comparison to acquiring 100,000 customers or even more.

That’s why Amazon sellers love niche products. It makes their job of landing sales easier and convenient. With only a small segment of customers to look after, you can very easily direct your efforts in the right direction.

Amazon, eBay, Walmart – Exploiting the big to make small (but powerful!)

The platforms listed above are three of the most popular online marketplaces in the world. They have a huge potential and have a market share of more than 55% in the United States. The best part is these platforms welcome all sellers alike, whether they are individuals or professionals. Of course, there are certain conditions to be fulfilled before that, but generally, everyone is welcome to sell.

The idea is to detect that top-selling product in the current range of products (there are hundreds of thousands). We are talking about products which have a sales volume as high as possible, with the shallow competition.

First-time sellers on Amazon will always suffer from the syndrome of “I don’t even know which product to analyze.” But the difficulty resides in your ability to list as many products as possible, and then fine-tune that list for refined results.

It must be done by losing as little time as possible on products that are clearly not in the niche. Remember, your focus should be to find a product with low competition and high demand.

Without having extensive experience in researching E-business concepts, it is evident that some keywords like: “Electronic cigarette,” “Nike shoes,” “Louis Vuitton bag,” are utterly unassailable. These products require ultra-sharp skills in SEO (Search Engine Optimisation) and even then, the chances of making a killing are low because the competition is extremely high.

While surfing for products on Amazon, you can fall for a misunderstanding that everyone can find gold in the Amazon niche. It is not something unattainable, but it’s rather tricky, time-consuming, and tedious.

The ideal plan would be to have a comprehensive and synthetic list of products/keywords that you could handle in a simple and above all, fast manner.

The list must be large enough to offer product ideas that virtually nobody has thought of from a commercial point of view. And therefore, must be off the beaten path of competition. Of course, the idea is not to generate this list by hand but let technology do the work for you. And that’s where our Amazon niche finder comes into the picture.

SellerApp’s Product Research Gives you access to our massive database of over 100 million products. You will get all the essential data points to understand the profitability of a niche, benchmark top sellers, analyze your competition and your products with utmost precision. In other words, it is your one-stop Amazon niche finder.

Using this software, you can validate your product idea for profitability before you start selling it and realize that the product was doomed to fail from the start. You can validate your research based on average sales volume, average selling price, estimated sales and revenues per day, historical trends, competitor pricing, etc.

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