Niche Marketing has always intrigued since I got hooked to digital marketing.
This is one enigmatic marketing strategy where the ‘popular’ is ‘unpopular’ and the ‘unpopular’ becomes ‘popular’. Niche marketing is basically about veering away from marketing to a broad spectrum of consumers and concentrating on creating and segregating a smaller segment of the broader market by identifying their distinctively specific needs, and then supplying them with products and services that address these needs. In essence, with niche marketing, you try to avoid the more popular (most searched for) products and concentrate on those that fewer people search for.
But one of the most interesting things I noticed while working as a marketing consultant is that there are market niches that are unpopular now (or commands fewer searches) because their underlying industry has been drastically affected by the prior economic downturn making the demand or interest for them wane. Or, these unpopular market niches are relatively new in the market and the bigger, broader sector of the consumers is still largely unaware of their benefits. With the economy turning for the best, these now unpopular niches may just hit the jackpot this year.
Below are 10 of the currently unpopular niches that may experience a boom in 2013:
- Automotive – The U.S. auto industry was one of the hardest hit by the recent recession but is expected to rebound as the U.S. economy makes a full recovery. New car and truck sales for 2013 are expected to reach 15.4 million. This optimism was further boosted by the current slump in the European auto industry that is expected to heighten the demand for American made cars and trucks.
Automotive digital marketing and direct mail and lead generation services will once more be in great demand.
- Real Estate – Housing starts have risen to a record of 954,000 new homes last December – the highest in four years and still expected to continue.
With the Hispanics making up a rapidly growing home buying group, real estate related services might just have a heyday catering to the needs of first time homebuyers from this large ethnic group. This is the largest minority group in the country with an average age of 27 years old and may well be the biggest group of consumers buying homes for the first time.
- Health Care for the Elderly – Healthcare as a whole is a perpetually popular niche offering a lot of start up business opportunities. But there is a healthcare niche for the elderly that has not been given the attention it deserves. This still unpopular niche is the development of software for the cognitive fitness programs. These software are actually brain training games meant to stimulate the brain and induce brain changes that will ultimately remodel and renew nerve cell connections thus improving brain functions. With more and more of the moneyed baby boomers bloating the ranks of the elderly, this can be another popular niche to watch this year.
- Business Consulting – As the economy grows and as more businesses find themselves burdened with loads of tasks they can no longer handle, experts are predicting that many of them will start outsourcing some tasks particularly their financials and the public relations needs. Small business consulting firms will have their hands full catering to their larger business counterparts in 2013. This industry is forecasted to grow by 5.9% all the way to 2016.
- Hospitality Industry – With the wheels of the economy now favorably turning for the better, you can expect a meeting boom to echo once more in practically every favorite meeting venues all over the country. Meetings, conferences, and even sporting events are slated to raise the occupancy rates of various hotels and fill the restaurants to the rafters.
Conference coordinators and event planners that suffered a decline due to the recession will ultimately bounce back this year.
- Local Tourism Industry – The industry is slated to grow as the economy improves. It suffered a slack since 2009 but is expected to gain momentum as improved earnings in all sectors encourage travel nationwide once again.
The various tourism niches that may benefit from the projected economic windfall include Health (Wellness and Medical), Indigenous Tourism, Farm and Country Tourism, Ecotourism, Cycle Tourism, Bird Watching, Educational or Gay and Lesbian Tourism, Adventure, and Backpacking.
- Party Favors – Fortune Cookie with Custom Messages to liven up your party even more. With improved earnings, consumers are more inclined to hold parties and they can be enlivened with unique party favors like fortune cookies with custom messages and sayings. This is an unpopular niche but has great potentials for 2013 given the proper digital push.
- Day Clocks For the Elderly – You may consider this product a bit weird but it caters to large number of retirees and senior citizens who are notorious for not keeping of which day of the week it is. Perfect for elderly homes as vacation rentals, the day clock will prevent you from forgetting the day. The market for the elderly is large enough niche to develop for this product.
- Wearable Airbag for the motorbike rider – Developed by Italian company Dainese known for producing protective gear for motorcycling, mountain biking, and skiing enthusiasts, this wearable airbag, which they call D-Air, has definitely a market for biking enthusiasts in the country. With over 7 million registered motorcycle owners in the country, D-Air has a definite niche to fill especially in the face of the fact that 88,000 motorcyclists were injured while another 4,810 of them were killed in road accidents in 2006 alone.
- Personal Care for Women – These Japanese panties for women are not only fashionable, they are also made of special materials that absorb accidental leaks especially during women’s periods, pregnancy, or old age. A perfect fashionable solution to a pesky feminine problem, this innovative product gets rid of panty liners and saves women from those embarrassing moments.