You want to start an online business, but have no idea what the best niche or best product to sell which can start making money for you?
Gest what, you’re not alone. Infact, choosing a niche or product to sell is the biggest problem faced by most digital entrepreneurs and newbies in eCommerce.
When it comes to making money online, there are so many different options open which makes it quite difficult to choose what to actually venture into especially for a new entrepreneur.
In this article, we’ll show you to 15 niches in ecommerce that are making money in 2020.
Let’s dive right in!
What is a Niche?
Niche is a profitable business segment of a market in which people can satisfy people’s service needs and also offer products around its value chain.
When you’re just starting your business, you probably won’t know which products will work best for you. Many people start out trying to do it all which led them to take a risk bigger then them.
If you’re racking your brain trying to think of your first product idea, you can get started by picking a niche first.
The key is to identify a niche market that you can master and has a viable audience of customers for. Be specific about any niche you should, don’t be a newbie of all trade when you can be a Master of one especially for new startup businesses.
15 Best Niches for eCommerce that are Make Money
Fashion niche is one of the biggest niche among all as there are millions of product available for sale and people in the fashion industry keep manufacturing new products each day.
You can venture into fashion business by selling few products that you know some specific people will like. For newbies to enter fashion market and get off the ground properly, you need to place yourself in a relatively small niche i.e pick few products to sell. It is good even for fashion lovers, as you can just develop your passion or interest in fashion more.
- Men Fashion Niche: You can pick only this niche and focus on it or pick one or more of product under it as the niche you want to invest on.
- Women Fashion Niche: You can also select women’s fashion as your niche or just pick one or a few of products under it.
- Babies and Children Fashion Niche: If you fancy babies and children fashion products, this will be a great niche for you as you can also select all the product under it or a few.
#2. Beauty and Health
Beauty and Health niche is also another huge niche that you can venture into especially if you love beauty stuff. Beauty niche on its own is a big niche, just as the health niche is a less bigger niche on is own but both are amazing niche to invest on.
- Women’s beauty and Health Niche: Beauty and Health are what every human being can’t do without especially women. Women love to look good and healthy all time.
- Men’s Health and Beauty Niche: Not only women love to look good and healthy, most men also love to be looked upon and be referred to as handsome. This is a great niche and there are a lot of beauty and health products made specifically for men.
- Babies/children’s Beauty and Health Niche: Just like men and women, babies and children need to shine their amazing beauty and be healthy all time. This niche is really great as parents can’t afford to see their children looking unkempt and most parents spend more on their kids then themselves.
#3.Phones and it’s Accessories
As you all know we are in the technological age where everything keeps changing like magic. Phone is one of the magic product that keeps changing and improving each day and people find it very interesting to own any new magic (cellphone) in town.
Phone and it’s accessories niche is another great niche to invest on as people can’t keep their hands offer latest phones. Phone and it’s accessories are what people can do without and they keep demanding for latest editions every time.
- Phones: If you have enough capital to invest in a cellphone business, it is a really great business that is really making money in this generation. Don’t be surprise to hear that most people change their phones when latest edition comes out, a lot of people do that. You can venture into selling of a few new smartphones or refurnished phones. If you can’t afford the investment into the whole section, you can just pick one or a few of the brands and invest in it.
- Phone Accessories: As smartphones keep improving with technology so also is its accessories. The phone accessories are a great niche to venture into with small capital without even having to sell any phone.
#4. Computer and its Accessories
Computer as becoming one of the necessaries of life especially for students and office workers. The rate at which people demand computer and its accessories keep increasing every day.
It sounds like a good niche to venture into but mind you it involves a huge amount of capital. If you don’t have the big capital to venture into the own niche , you can start with selling the computer accessories.
- Computer Niche: You can pick a computer brand and invest in it eg You can own a store that only focuses on HP computers or buy each brand in small quantity.
- Computer Accessories Niche: You don’t have the required fund to venture into computer, why not invest into the sales of computer accessories since the capital demanded is not as high as computer niche.
#5. Office Supplies and Stationeries
Office supplies and stationeries niche is also another great niche to venture into as it requires little capital to start, unlike computer niche. This niche gives you the option to sell different office supplies and stationeries that can be used by targeted audiences such as office workers, students.
#6. Home Gadgets
Consumer electronics and home appliances are good niche to venture into as it comprises of gadgets use regularly and relevant to individuals. This niche contains essential household product that most people can’t do without. Note that getting started with electronics will demand a lot of capital.
- Consumer Electronic Niche: This niche comprises of smart gadgets use by individuals. it don’t require much capital to get started.
- Home Improvement Niche: This is a kind of niche that comprises of gadgets use mostly at home. This niche involves a lot of capital to get started as the product under it all big electronics that are essential to family or individuals.
#7. Sport and Entertainment
Sport and Entertainment niche is another great niche to venture into as it deals with a lot of audiences who have develop passion for sport/entertainment. If you are a lover of sport or entertainment, is niche will be an amazing niche to go for.
How to Evaluate your Niche Idea
Now that you know what the different niches to venture into, this time to know how to evaluate whether the niche is for you, profitable, and have fewer challenges that are not beyond your power before embarking on it.
- Dig deeper into your niche: You still need to know more about the niche you have chosen in other to know the challenges, potential audiences, how to market it, and the current prices in the market and your competitors. See if you have the capability to handle such a niche.
- Research consumer trends and specific needs in your market: It’s important to know what’s happening in your chosen niche. To know how often customers are looking to buy niche products. What their problem is. Because your niche must be solving a particular need of audiences.
- Build your audience first: For you to be sure there’s an audience for the niche you have chosen first build an audience around the niche. You need to be sure there are enough buyers in that niche to make it viable. This way, you’ll have an engaged group people ready to buy.
When it’s time to actually market your product, remember to focus on your specific audience’s needs.
Understanding the unique needs of each niche makes it possible to speak directly to them in your marketing—you’ll have a greater chance of attracting a buyer’s attention and winning by making it clear that your product is specifically for them.
That’s all. We hope you have discover the best niches for ecommerce that you can venture into and start making money from. The niches are online business you can start from home.
Now, Over To You
What did you think of the 15 ecommerce niches we discussed above?
Or what other niche(s) do you think is great that we have not mentioned, let us know in the comment section below. We’ll love to see your feedback.
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