thanks in advance
In: 3
Niche: “denoting products, services, or interests that appeal to a small, specialized section of the population”.
Say you want to run an online clothing store. You sell general clothing items that are useful to most of the population, but can be found pretty much anywhere. Why would people choose to buy from you, instead of from a more well-established company, or a mall/thrift store in real life that’s probably way cheaper? Your customer base is wider but you have a LOT of competition.
Now say instead of a wide variety of styles, you ONLY sell steampunk clothing, or platform boots, or something. It may seem like you’re limiting your customer base, but people who are searching for that will come to your store. It’s unlikely you’ll have competition. You can charge more and dominate the market for that specific niche.
Latest Answers