DonkeyBrains
Newbie
- Nov 17, 2018
- 22
- 6
What defines a good niche for e-commerce to you guys? I've been diving into e-commerce over the past few months and i've come up with a list of basic key characteristics. I still consider myself a newbie to this so feel free to add on or point out flaws in my logic.
1. Repeat Sales - I feel its obvious that a good product should be something that encourages repeat buys from the consumer. Something they'll have to buy again and would be happy to buy again.
2. Multiple Accessories - A niche with multiple accessories means you have more products to sell. It also means you can bundle accessories and sell them in a pack. An alternative would be selecting a product which is already established and selling bonus accessories. For example iPads have multiple accessories that it interfaces with but do not come with the purchase of the iPad.
3. Engaged Community - The internet has made it easier than ever to connect with like-minded people. This allows passionate communities and trends to develop quickly, and of course its much easier to sell a product to somebody if they have been thinking/talking about it all the time.
4. Difficult to Obtain - IMO the biggest draw to ecommerce is convenience. The harder your product is difficult to find in B&M stores, the more convenient it is to buy online.
5. Light in Weight/Non-Fragile - Shipping cost is a thing
6. Low Competition - Early bird gets the worm right? The quicker you are to capitalize on a trend the more market share you can steal before other services pop up. That being said, it's extremely hard to find a niche that isn't being catered to already.
7. Evergreen - Relying on one big variable like seasons or holidays puts a lot of risk on your shop's profit. What if something goes wrong with your shopping cart or site on that day? A product that provides consistent sales allow you to build up a group of repeat customers. It also allows you to roughly calculate future sales.
Sorry for the long post, writing things helps me think them out and I get carried away
Let me know if I missed anything, always willing to learn if you know what you're talking about!
1. Repeat Sales - I feel its obvious that a good product should be something that encourages repeat buys from the consumer. Something they'll have to buy again and would be happy to buy again.
2. Multiple Accessories - A niche with multiple accessories means you have more products to sell. It also means you can bundle accessories and sell them in a pack. An alternative would be selecting a product which is already established and selling bonus accessories. For example iPads have multiple accessories that it interfaces with but do not come with the purchase of the iPad.
3. Engaged Community - The internet has made it easier than ever to connect with like-minded people. This allows passionate communities and trends to develop quickly, and of course its much easier to sell a product to somebody if they have been thinking/talking about it all the time.
4. Difficult to Obtain - IMO the biggest draw to ecommerce is convenience. The harder your product is difficult to find in B&M stores, the more convenient it is to buy online.
5. Light in Weight/Non-Fragile - Shipping cost is a thing
6. Low Competition - Early bird gets the worm right? The quicker you are to capitalize on a trend the more market share you can steal before other services pop up. That being said, it's extremely hard to find a niche that isn't being catered to already.
7. Evergreen - Relying on one big variable like seasons or holidays puts a lot of risk on your shop's profit. What if something goes wrong with your shopping cart or site on that day? A product that provides consistent sales allow you to build up a group of repeat customers. It also allows you to roughly calculate future sales.
Sorry for the long post, writing things helps me think them out and I get carried away
Let me know if I missed anything, always willing to learn if you know what you're talking about!
