Top 10 Niche Markets | Entrepreneur Smart
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Everyone wants the heads up on the latest trends, get on that band wagon early…. Everyone is looking for the perfect product and the latest trend is a good place to start…

Have you heard of the movie ‘Field of Dreams’ ? Its the one where Kevin Costner builds a base ball park in his corn field…The iconic line ‘ If you build it, he will come” comes from this movie…. That is so NOT the case with a website in a niche market.

There is no point building your website without actually having done the research into your products and know that you have potential customers for your niche market.

Entrance Chandelier

It is a huge challenge facing aspiring entrepreneurs to find that profitable niche with products that will sell and bring in profit. This might be a single product or a full product line. Its not easy, in fact, can be very tricky to find just one perfect niche product. Do you think entrance chandeliers will be the next trend? I suppose if you have an entrance big enough ! ? But you can be sure that there are tons of big entrances out there, you just need to get your website front and centre when they are looking for one ! There are tons of trending products coming onto the market all the time, not just big entrance chandeliers. If you can find the latest trending products early enough, you stand a much better chance of getting your website off the ground but thats easier said than done.

Tips For Finding Niche Products

The following tips are what good niche marketers do before they start promoting any product, build any website, or sell any product. New products are being launched constantly but you don’t want to get stuck on a treadmill of analysis paralysis and actually never go further, taking too long over the process of decision, with any product, so follow my tips and get yourself started with those niche products.

  1. Solve your customers problems – This has to be the first and probably most important tip for a niche product. To encourage a customer to purchase a niche product you are promoting, it has to hit a nerve with them, an issue they have that they are trying to solve, you solve it and you have a sale. Some products are fads, like charcoal filters in water bottles, or no kink hose pipes or breathable trainers…. Now I can think of a few people who could do with them!

Air-conditioned footwear isn’t a thing yet, but you can bet someone, somewhere is on that one, so the next best thing is using breathable fabric! You have solved a problem for your audience – sweaty feet after a training session leading to athletes foot and other fungal infections are now not a problem. The body can work out but the feet stay cool!

2. What about the enthusiastic hobbyist? There are those amongst us that have to have the latest gadget to help in our hobby.. from the natural soap slicer to the one handed electric soldering iron… These are niches that are there to be exploited by well thought out marketing strategies directing your products, carefully sourced, at the particular niche hobby. Appealing to the enthusiastic hobbyist who is more inclined to spend to get the exact product will work time again if they are getting value from their purchases. You are going to see a higher level of engagement and loyalty.

Corrugated soap slicer for slicing natural, hand made soaps.

3. What about personal passions ? Understanding your audience because you are one of them can be an advantage, easier for you to stay motivated in a niche you are already invested in. We are a world of individuals. We all have stuff that we are passionate about, from the clothes we buy, the pets we love to own, to the food and drink we consume. A trending product that has us hooked will become a great niche product. Adult colouring books, who thought that would even be a thing? But they are vastly more complex than you first think. A favourite childhood past time, has now become a raging trend with adults…

If I had seen my mother or father for that matter, colouring in an adult colouring book when I was a child, I would have laughed until my sides hurt, but today its a trend! So go with it!

4. Consider your own expertise and experience when choosing what trending products to promote. Its easier to promote products that you are passionate about and understand rather than those that are simply picked from a list you have found on a random website. Do you play or watch a sport? Formula 1 is one of my passions, tennis – men’s tennis apparel has changed trends from the long baggy shorts – fitted shorts and tops, with bold, bright designs are in now. But tennis or formula 1 would be too large a niche to market, too many huge brands already there, so not an easy niche to break into. Maybe BBQ’s get your juices flowing, 🙂 It is a skill to create the perfect foods with flavour and succulence from a BBQ… Its not all about slapping it on the barbie and sizzling it to a black charcoal cinder. But more about slow and low.. brisket and different cuts of meat are finding their way into our weekend BBQ’s now, so what about the equipment to help it on its way?

Smokers and dual fuel BBQ’s are becoming a trend, starting off low and slow first thing to produce the perfect experience.

5. What about your professional experience ? So you have skills you use in your everyday work and you know a huge amount about a specific topic that you can turn to your advantage starting an online business teaching others what you know. Maybe you are a paramedic with expertise in CPR… start a course, run classes, go teach it to schools on a school program. Show your abilities to a market that wants that skill.

6. What about early trends? Recognising early trends is a significant step forward – beard oil, cbd oil have become big recently ….. Im not great at spotting early trends, even when they’re given to me, but there are places to go look and become an early leader. Don’t confuse trend with fad… fads are short lived and frequently not topics that are going to keep you in teabags. Look on Google Trends/ Trend Hunter/ Reddit. – Paint-splattering Trainers or the backpack electric skateboard.

There are new products launched every single week. There is some art into choosing the next big trend but the very least you will discover some amazing niche markets. Remember Levi Roots and his Reggae Sauce? Came just at the right time…..

7. Check customer reviews on similar products. This gives insight into the sort of issues they have with the present product, whether something you think is going to be a trend, is standing up to scrutiny. Get one of the products you are considering promoting in your niche, check it out. Do a review, check sales data on JungleScout. If the product is not overly expensive but will give you a good return, take a punt, test the market, check it out on Analytics to see how it sells. This can be done for all your products, so you know they are performing well, where they can be dropped quickly if theyre not bringing in the revenue you expect.

8. What is actually trending right now? We all know some of the on trend products for 2019 already. Some of it I would totally consider tat, that will not bring in any decent profit for the effort you will be putting in trying to promote it. Hemp oil… connected to cbd oil but to be totally honest, the benefits of it are still very hazy. Do some research into what is on trend right now – Amazon Bestsellers/Amazon Most Wished For/Amazon Movers & Shakers/ Etsy Most Wanted/ Kickstarter/Trendhunters.

Flavoured gins…. I always thought gin was gin until I tried a rhubarb and ginger gin with Feverfew aromatic tonic… a totally different taste and really good.

9. Look at related products that customers buy together. Amazon is a useful source for this. Research one of the trending products and see what Amazon comes up with related to it. This is low hanging fruit but product wise rather than keyword wise.

Alexa has tons of accessories that can be promoted alongside the device, bringing products to the minds of your purchaser that they might not otherwise know about.

How To Get Started

Its a competitive market, there are a lot of merchants out there that are all wanting a piece of the pie, so you have to be smart, do your research. What are your answers to these questions ?

  • Does my product/service solve a specific problem for my target audience?
  • Is the market capable of supporting more business?
  • Are the startup costs acceptable?
  • How long before I become profitable?
  • Is it possible to be innovative in a pre-existing market?

Top 10 Niche Products June 2019

  1. Reversible Umbrella – Ideal for getting in and out of the car, no more wet, dripping everywhere as the wet surface is inside.
  2. Festive Beard Lights – Pimp your beard !
  3. Vape Pens – New and smaller.
  4. All In One Breakfast Centre – Brilliant idea where everything for breakfast is compact.
  5. Carb Reducing Rice Cooker – One that I am going to investigate.
  6. Portable Beer Dispenser – Great home draft beer systems
  7. Home Ice Cream Whippies – Got to love that texture
  8. Cocktail Scales – Love the idea of weighing with the recipe on the scales.
  9. Quartz Crystal Water Bottle – self cleaning bottles
  10. Wooden Watches – watches with a history
  11. Infra Red Grille – perfect steaks every time !
  12. DIY Wall Art – Custom paint by numbers.
  13. Paper Bag Totes – Great ecological product
  14. Solar Panel Equipped Speakers – Another great product for the environmentally thoughtful.

Pros and Cons of Selling Niche Products

Whilst a niche product is actually that, one that is not well known, that is not being promoted by big businesses, and all these fall into that category, you can be reassured that you will sell…… once you get traffic to your website. You need an established website, one that is getting clicks, to be able to get sales.

Blogging and getting on the first page of Google helps with traffic, product reviews that are also promoting will bring customers. All the strategies to get traffic still need to be used to sell in a niche market, remember what I said at the beginning about The Field of Dreams, its not good enough to have the products there, you still need to attract the customer with your content, promotions on facebook, google ads, instagram.. all the usual places.. Go for it and I wish you great success !

What Do You Spend Your Money On?

Have you ever analysed your own spending habits? Have you looked at the suggestions on Amazon for add-ons to the product you are about to purchase? A good analysis would be to look at what you spend on, beit fishing magazines, rods, flys, tattoos… these are your spending habits and each and every one will have a niche related to them that you already have experience in. Maybe its beef jerky or you’re into insect proteins, they’ re going to be the next big thing, tried to get my tennis playing son to use them but he says hes not a body builder and doesn’t need that much extra protein! Using your own spending habits as a start for a niche is the ideal scenario as you have built in experience to call on. Go for it !

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