If you’re a newbie the most bugging questions will be what niche should I start my store in? How do I go about finding a niche? What niche has the best potential now? If you think you’re lost with these questions. Then here is the list of top 5 niches to dropship in 2020
In this post, I am going to share the top 5 niches to start your store in 2020 and also I’ll tell you why we recommend these niches. Excited? Let’s dive in.
Before you see the list. Let’s make sure we’re on the same page about Dropshipping. Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party supplier and has it shipped directly to the customer. As a result, the merchant never sees or handles the product. This means that the seller never invests or holds the inventory upfront. They simply pay a small portion to the supplier from the payment received from the customer.
Supplier Product Cost = $10.
You Sell it for = $30.
You Pay Your Supplier $10 to ship the product to your customer.
Your Profit = $20.
If you’re new to this let me tell you. Dropshipping is the #1 business model which can be done with 100% automation. If you like to learn more. Here is a detailed post about Dropshipping.
Now let’s see the list of 5 top niches to start dropshipping in 2020.
This shouldn’t be surprising for you. The Health and Wellness niche is no longer a trend, It is here to stay. Everyone is paying more attention to their wellbeing and finding ways to live healthier in the middle of all these unhealthy foods and routines. The Health and Wellness industry is a 4 trillion dollar market. In the last 3 years, the industry has grown at double the speed of the entire global market. That is why this is a super hot niche for eCommerce merchants. The health and wellness store you’re going to start is going to become increasingly popular in the next few years.
Don’t let the idea of the market is very crowded fool you into thinking that you can’t compete. When the competition is high it just means that there is more than enough money to be made. A little piece of the pie will still make you a 5-6 figure revenue in this 4 trillion dollar industry.
From playing the snake xenzia to playing PUBG/COD on our mobile. We have come a long way. Mobile Gaming owns more than 50% of the global gaming market.
The newly released Call of Duty Mobile broke every record with 100 Million + Downloads in the first week makes one thing clear, Mobile Gaming is the future of Gaming. And it will not end there, research reports that around 2.4 Billion people Globally is expected to Play Mobile Games in 2019. If this doesn’t convince you, nothing will.
Mobile Gaming Market is still pretty new. People are shopping gaming gadgets for their mobiles like mobile controllers, Headphones and Gaming Glasses. If you’re getting into this niche, make sure you source top quality products from reliable suppliers who are ahead of the curve with their new inventions.
This niche has seen steady growth in the last five years with a big hype every season. The recent introduction of smart speakers has changed the way we live in our homes. The item which was released for techies is now popular among many different types of people.
They have changed the way we use other items in our homes. Which started out as one smart speaker has grown into more and more products in our smart home. 70% of the people who have a smart device have expressed interest in buying another. And there you have your perfect audience for your smart home store.
It is estimated that 477 Million smart home products will be shipped globally in 2020. If you’re wondering what products to sell in this niche we recommend selling products like Bluetooth speakers, smart bulbs and other smart remote controllers to make your smart home yours. This is the best time to jump in.
Millennials have seriously changed the wedding industry today. The number of weddings in the United States has increased year after year. However, the way millennials plan their wedding has changed dramatically. On average a couple spends $26,000 at their weddings. In 2019, more than 80% of wedding planning is done online. That’s a huge opportunity for a wedding niche store.
Couples are shopping months before their wedding, so the shipping time is less concern here. 9 People out of 10 are sharing their special day on social media platforms. So the Ad targeting is much easier. With lots of pros and huge demand. Wedding is a niche for the future.
The Pet industry has seen explosive growth. According to the American pet products association, almost 85 million households have a pet and that number has grown from 56% to 68%. Sales in Amazon for pet products have skyrocketed. With every passing day more and more millennials are adopting a pet. And It’s the best time in history to start an online business around the pet niche.
If you still think that Pet Supplies is a very competitive niche. Go even deeper with a sub-niche like cat products, dog products, or even fish products. The opportunities are endless. You just need a good product and some creativity to make money with your pet store.
In short, you make money by solving other people’s problems. Now you know about our top 5 niches to dropship in 2020. While these niches look promising in 2020. Don’t limit the list. Do your own research and come up with new niche ideas for your store.
If you’re passionate about something. Start your store in that niche. In the end passion and smart work is all you need to succeed in ecommerce. If you have anything to add to this list. Please add it in the comments.
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Happy Sales Everyone 🙂