Top Most Profitable And Low Competition Niches In 2020
Running an eCommerce or a dropshipping business is quite a daunting task. Especially when it comes to picking the right, untouched niche market, you'll have to put in a lot of research. You see, the decision of a niche market is always based on five different segments;
- Psychographics: the traits of human beings on psychological attributes. It’s used to study personalities, attitudes and interests of people.
- Geographic: considering your target audience and where they are located.
- Demographic: the segmentation according to age, religion, gender, income and ethnicity.
- Firmographic: the segmentation of business to business customers and their attributes.
- Behavioural: segmentation of customers based on their actions, characteristics and attributes.
The whole point of finding an untouched niche is that you want to bring people those products and services that aren't being sold already by other sellers. During the hunt for the perfect niche, you might get a little tempted by all the current products on different websites. And when this happens, you should also realize that these products belong to high competition niches. You don't want to get in that kind of trouble, right? If yes, then stick to low competition niche markets that aren't touched yet.
To assist you in this process, today we are here with some untouched niche markets 2020.
1-Virtual Reality Products
Believe it or not, both the AI and VI technology are taking over the world - with, the VI technology considered the "next big thing" for eCommerce and dropshipping businesses. The demand for VR products is increasing with time, primarily because this technology is now being implemented in the entertainment industry. Several virtual reality movies are being released, and above everything, there are VR games that require VR products for the users to get entertained. In a nutshell, for your next big break, you need to consider this niche in 2020.
2-Digital Education Products
Technology has changed the world at a whole other level .Every field is getting digitized - especially education. Virtual education is already in place and being utilized by several institutes - both big and small. And now, the technology is slowly moving in and influencing our everyday lives - interactive books, gamified lectures, and touch-screen boards. In fact, the COVID-19 pandemic has further laid stress on how critical it is for conventional forms of education to go digital.
Eco-friendly products are the new talk of the town. As of now, people are more concerned about saving nature than anything else. This is the reason why the eco-friendly product's niche can be a real deal for you. One of the best examples here is the trend of biodegradable trash bags. People are now banning plastic bags and shifting to biodegradable ones. This is just one example. If you conduct research on it, you'll find several other such products to sell.
The love for animals is endless and timeless. In fact, even after 50 years from now, you'll see people obsessed with their pets the same way that they are today. You can take advantage of this emotion and turn it into a business to earn some real-time money. The pet products niche will always be a win-win for you. Furthermore, not a lot of people are working on it so you can definitely try your luck here.
CBD products are the hottest health-related offerings that people are going crazy about. With time, CBD products will grow in popularity. There are CBD oils, supplements, vape juices, gummies, and many other products that you can deal in. It’s a low competition niche and there’s a huge variety of products that you can try. People have witnessed a demand in CBD products so this is just the right opportunity for you to cash.
6-Safety and Hygiene Products
Everyone is aware of the current COVID-19 situation. This pandemic has caused chaos in the whole world . Most importantly, what it taught people is that their health should be their number one priority no matter what it is. The concern for health and hygiene is what makes this niche profitable for you this year. You can bring people new and unique hygiene products not just to earn money but to help them stay safe and healthy.
7-Solar Energy Products
The solar products niche might seem a little competitive in the beginning, but if you conduct detailed research on it, you'll see that it's not as competitive as you think. On the other hand, when it comes to the profit, well, you should rest assured that you'll make quite a good fortune in this niche. There are solar panels, solar power banks, and solar batteries that you can get started with. With time, the demand for these products will increase, and you'll see how your business's success skyrocket.
Unique automobile accessories aren't easy to find nowadays, but at the same time, there's a high demand for them. In simpler words, this niche is both profitable and has a low competition, which is what you are looking for. In this niche, you can opt for different products like car charges, smartphone holders, and other wireless gadgets that can be used in vehicles.
These are the top best, most profitable niche markets to work this year. If you want to boost your eCommerce business's success or want your dropshipping business to work as per your plan, the wise thing to do is start working on any of these niches right now.