In a world where global eCommerce continues to rise, the thought of owning a business and running it over the internet is a common and ambitious dream. As the Covid-19 crisis goes on, we have entered 2021 with some great business ideas that are likely to do well this year and the next.
It is clear that eCommerce has been thriving. Shop-from-home is the new normal with Covid-19 restrictions in multiple regions. Running a business, too, has never been easier. All you require is a high-speed broadband connection like Hargray internet that works seamlessly even in the pandemic struck areas with its special Emergency Broadband Benefit. This program ensures that struggling households too are provided with a steady and reliable internet connection.
Once you have established a good connection, the only thing you have left is to decide what to sell, and you’re good to go.
So, what is an economic niche? What are the most successful eCommerce niches this season to invest in? Let’s jump right in!
What Is An eCommerce Niche?
A niche is basically a minor subdivision of an otherwise much larger product umbrella. It is much more specific and targets smaller groups of the society rather than the whole population at once. A niche allows you to direct attention to one product type or product to sell to a particular audience. Since it is so precise, a niche usually brings in good profits.
Let’s talk about this with an example at hand. Maybe you are planning to sell cosmetics and make-up products. How do you approach that? The market is saturated already with too many brands, some of which have been in the game for years. What will make them choose you, a relatively new seller with few product users?
The answer is a specific niche of product. So rather than selling just any cosmetic, you develop a line of organic make-up products and sell that instead. Not only does it eliminate most competition because few people are doing it, but this also gives you a definite audience who are happy to pay. This boosts traffic on your website and increases sales.
And that, ladies and gentlemen, is a niche! Now let’s get into some of the famous eCommerce niches and how best to benefit from them.
1. Home Yoga and Gym Equipment
Exercising is a fundamental human right. You should be able to exercise no matter what place you live. However, the unfortunate pandemic has ruined the gym experience as we know it. Some gyms are still closed owing to safety protocols, and for the open ones, we don’t feel safe enough to visit. The expensive gym subscriptions just do not seem to be worth the risk anymore.
So, it is evident that exercising at home is the new norm. And that, of course, requires proper gym gear and machines. As long as you have devices with appropriate warranties and service checks, people will have no trouble ordering from you.
Home yoga, too, has seen an increasing trend. Many people choose to go for a more relaxing activity method. Hence yoga gear and mats also make an excellent addition to this niche.
I guess you could say this eCommerce niche really works out!
2. Health and Safety Products
It wouldn’t exactly be a pandemic if it wasn’t so destructive. Covid-19 has broken the dam when it comes to health and safety products, bringing in heavy traffic from all around the world.
Needless to say, this is a niche that has been doing very well for the past year and is likely to rise. There is a lot of stuff you can sell. These include:
- Face masks
- Hand sanitizer
- Alcohol disinfectant wipes
- Pulse oximeter
- Oxygen cylinders
- Dietary supplements (Especially Vit C and Zinc)
There is some competition in this niche, but people will order if you offer something innovative like quick delivery or discounts. It is a terrific eCommerce niche idea that allows you to make money while making a difference in the lives of many grief-stricken people.
This idea may seem too basic, but according to a report in 2020, digital sales for grocery shopping through eCommerce platforms is expected to go up 17.8% in 2021 and expected to hold up that trend for the years to come. Covid may have kicked this trend to life, but people choose to keep it up because let’s face it – it is much easier shopping from home.
It is simpler to browse through websites from the safety of your home and have it all delivered to you within hours. So, you can order now and have the shepherd’s pie ready for dinner, which is the highlight of this niche.
This niche is expected to do very well in the times to come. But if you are going for this, choose your vendors very carefully, for fresh ingredients are easy to mess up.
4. Handmade Jewelry
Ever since independent artists have launched designs on Etsy, handcrafted jewelry has undoubtedly become a fad. The trend keeps on getting better with bangles, bracelets, rings, and earrings. There is a lot this niche has to offer.
If you find yourself amidst some great designer people, it may be your chance to launch their products on your website. It is a beautiful niche idea, and people are ready to pay for artisan handcrafted jewelry pieces.
5. Beauty Products for Men
This is a relatively new niche and quite an exciting one too. It’s 2021, and we do have a range of beauty products for men to benefit from. One element of this niche is beard oil which is making rounds on social media. It appears to be making a statement for men everywhere.
This niche is unusually pristine, with very little competition. It would be a profitable idea to hitch up this ride as soon as possible!
And that is our take on the top 5 economic niches of 2021 and is likely to continue through to 2022. The year may be ending, the possibilities are endless, and the limit is only in your imagination. With thousands upon thousands of people turning to online shopping every day, the niches just keep increasing.
All you have to do is speculate about a specific niche and stick to it. This would help build your audience and fill them with confidence and kick any unnecessary competition to the curb.