Some niches can appear profitable but most of the time, it is simply because the brands selling these products have been around for so long that they are already considered pioneers of the niche.
When a new brand enters the market, it has to compete with all the well-known and willing brands. Since you’re selling similar products, coming up with a USP (unique selling proposition) can be a challenge.Market saturation for a product occurs
When The Volume For A Product Is Maximized
Hence, newcomers would not gain as much of an advantage as they had hoped.
Here are some tips on how to tell if a product is becoming oversaturated:
Decreased Demand Potential
To check the potential demand, you can go to Google Trends.
In the example above, you can see that in the last 5 years, the demand for baby pacifiers has always been there.
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As for Christmas trees, you can see whatsapp mobile number list that the demand is not very consistent (as Christmas trees are a seasonal object of interest but this just goes to show the importance of market demand in product selection).
Take a look at your competitors
You can see your competitors by logging into Shopee and searching for your product in the Shopee catalog. See if you can offer a better USP or a more competitive price. If not, the best step is to remove this product from your list.
Does It Meet A Long Term Need Desire
Entering a sustainable market means selling products that people want/need over the long term. There are products that are trending for a few months but after the time has passed, they are no longer profitable.
While short-term sales are part of UAB Directory the game, the foundation of your business should be toward long-term sales. Hence the need for a mainstream product that is not just a trend but something that potential buyers will still want to pay attention to after the trend wears off.