What is niche market?
A niche market is a small market segment on which a specific product or service is focused. A niche market has its own demands and preferences.
A niche market differs from the market at large by:
- product features that satisfy specific market needs
- price range
- production quality
- demographics it targets.
Finding a niche market helps small businesses gain competitive advantages. It allows them to cater to a specific consumer rather than target a broad audience. That, in turn, helps to increase revenue by catering to the unique demands of a
For example, instead of selling regular cleaning products, a small business can sell solely biodegradable cleaning products. It allows them to cater to the demands of
Here’s how to find product niches for your online store.