To get the product you want, you have to ask yourself – who else is producing a similar product? You should identify your competitors and complete a competitive analysis.
A thorough analysis focuses on the competitors in the market and examines them as good or bad.
- products are
- The price is always lowering the product
- social media engagement
- Is your omnichannel presence just selling as a pure retailer?
We look for opportunities out of their weaknesses as this helps us present ideas and niche our products.
Finding a niche product doesn’t necessarily have to focus on the product itself. For example, your niche could be an approach to sales, i.e. click and collect, Omni-channel partnershipSo, Iconic or Warehouse Group?
that’s why Analyze sales markets and channels Again, because it presents creative, new and unique ways to sell your products beyond your own DTC website.
moreover Complete competitor and market analysis for product pricingcan also present new and profitable ways to market your products.
So would you be a worthy retailer offering bundles or luxuries offering unique circular fabrics and designs?
finally, Ask your audience and validate your research!
Here’s how to do it:
Only after completing these important steps can you have a niche product from a fashion brand.
Feel free to ask more questions by leaving a comment below.