Successful Online Selling
 

What Exactly is an eBay Niche Market?

what is an ebay niche marketNiche marketing is an oft-talked about subject, particularly on eBay. But what exactly is an eBay niche market?

In business, a niche refers to a very specific portion of a larger market that is markedly distinct from the main market place. Thus, a niche market is an isolated section of a larger market with usually unique, peculiar needs. An eBay niche market is essentially the same as a niche market in any other online market place.

Understanding what a niche market isn’t is another way to define and grasp the concept of a niche market. Niche markets are places where selling in volume does not apply. When you’re selling to a niche market, you won’t sell video game consoles, you’ll sell vintage consoles, for instance.

You sell a particular kind of item within a product category. A seller that targets a niche market doesn’t invest in large amounts of stock comprising dissimilar products. Instead, they stock up on items that are linked to a specific need.

Why Do Niche Markets exist?

The concept used in the mainstream market place is to produce and sell very similar products on a massive scale. It’s a sort of one-size-fits-all model and some people find this totally unappealing. Thus, niches are formed as a result of this mass marketing of similar products.

Most big retailers (both store based and online like on eBay) target customers who buy similar items because they can sell in big volumes (mass market). in the end, they end up creating a lot of competition as they strive to sell as many products as possible, which drives down the prices.

On the other hand, there are customers who want something very unique, something different from the rest. These are the customers that give rise to niche markets.

The Need to Focus on a Niche Market on eBay

niches in ebaySo why is it important for the small eBay sellers to identify and sell to a niche market? Why should you take time to research and select a specific market to focus on? The answer is competition.

As we mentioned earlier, the business model used by big retailers is to mass market and sell popular products within a very short time. They key things here are time and volume. They sell at low prices (thus low margins) because they sell in volumes and in a short time.

Clearly, this business model isn’t for small eBay sellers. Moreover, a niche market doesn’t have to focus on a particular product, but can also be product quality, rarity, price, or application. a seller has enormous freedom when choosing a niche market.

The most important thing about niche markets is that they are more successful with online businesses – particularly eBay – than in brick-and-mortar store settings. Niche markets are major reason why e-commerce has thrived.

In conclusion, identifying and focusing on an eBay niche market is the way to go for small sellers. You’ll have a focused group of passionate customers for a long time, and this is what you want for business sustainability.

consumer wealth system

consumer wealth system

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