Compared to this time last year, there is far more optimism among small businesses. More people are taking the chance to open their businesses and blaze their own trail. 60% of small businesses expect growth in their revenue this 2021, creating more confidence within the market and encouraging others to start their own.
Starting your own small business isn’t easy. It may seem counterproductive to start by doing retail and eCommerce on a smaller, select market. Still, some small companies see it as an opportunity to break new ground and become a leader with an innovation.
Just as some big tech companies started earlier in the social media game and thus became standard-bearers, working with niche products and interests could give small companies a foothold and corner a market.
Enhanced Anti-Aging Skincare
Skincare, particularly ones that revolve around the use of collagen and other anti-aging components, has been garnering interest in the past year. People stay home, unable to socialize; it’s the best opportunity to do a little physical transformation while unseen.
Collagen alone is expected to grow by 5.9% in the next several years. It’s well worth getting ahead of the skincare boom, especially as large cosmetics companies have already started to emphasize it since people have begun using less makeup. Coming up with a practical, affordable, and interesting product to catch the market’s attention would give small business plenty of room to grow.
Home-Office Equipment and Supplies
Not only do people want to work from home, they expect it to be a permanent option even after the pandemic. As a result, they are making their homes more “work” friendly, seeking out ideal home office supplies from laptop stands for beds, rolling side tables, and other furnishings to make their home and workplace into one.
These aren’t limited to furnishings as well. PC accessories that most people wouldn’t need “high brand” such as mice, cables, and other critical peripherals can be added to your store, so people need only to go to one online shop and get everything they need.
Hobby Room or Man Cave Furnishings and Items
As part of the home renovation uptick in the country, people have started converting spare rooms or areas around the house into areas dedicated for recreation and their hobbies. And with so many items now available online, they have started stocking these areas through various online stores and small businesses. Many customers even do “box openings” online to show off their new purchases.
Stores that stock hobbyist niche products gain leverage in this end. Pop culture and fandom items such as authentic signed memorabilia of music or movie merchandise are popular. Toys follow after, especially if they are unique or present a statement. One such small toy company, iHeartToys, made significant profits in amazing pool floats. Craft supplies are also in high demand as people take up an interest in the arts.
People consider these hobby spaces a “nest” for themselves, and tapping into this interest to adorn it with goods that they will enjoy can be incredibly lucrative.
Snacks and Candy Boxes
It’s no secret that the food and food delivery industry grew substantially over the past year as more people ordered their food. But some small businesses have started homemade snacks and customized candy box subscriptions, often featuring hard-to-find or unusual snacks for people to enjoy every month.
Snack boxes are easy for a small business to customize, and they won’t find a shortage of sweet teeth from the eCommerce shoppers, many of whom might have been deprived of their favorite rare snacks and treats as they cannot travel or reach them.
Pet Care and Pet Products
With everyone at home, they are spending more time looking after their animals. And along with that comes an influx of buying more pet care products. Pet toys have become increasingly popular, especially if they’re unique or present something interested. One example is automatic ball shooters, which enable dogs to essentially play fetch by themselves since upon returning the ball, the machine can shoot it back out.
Pet food has also become important as people now want to give their pets better food. Organic dog food or pet treats are increasing in popularity. Some pet lovers looking to get into the small business industry have even started creating special pet treats, such as dog ice cream or homemade pet biscuits.
These niche areas are a great opportunity for a small business to get started and get a foothold in eCommerce. They can stock items that customers are looking for and have a hard time finding, thereby becoming a relied-upon store for these needs in the future.