Choosing Generic vs Specific Niche

A niche is a specialized part of the market where you should dominate sale and market share. For example, if you like pets then pet collar can be your specific market niche.

In the above image you can see that if you have a specific niche then you can compete easily. Outselling products in the same item classification is easy

If you think pet accessories is your niche then you are being very general and can lose focus. Identifying your niche must start with specific item and then you must start working your way up till general items.

If you do not have a specific niche then you are selling random things. People are looking to buy specific things so showing them random things will not help close a sale.

For example, sell dog collars until you dominate sales and market share then start offering dog clothes. After selling dog clothes for a while until you dominate sales and market share then start offering cat litter box so on and so forth. Keeping focus on specific item and gradually start selling generic item is the perfect plan.

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