We analyze the market niche and choose a product
This step can be called a strategic one, as it largely determines the future fate of the future business project. A niche is a General product direction in which we will create our store.
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The niche must meet the following main criteria:
Being in demand. There is no point in selling a product that is not in fairly good demand.
Low competition. Here, this is rather a desirable parameter, since competition is quite strong in all the popular niches. After all, as you know, demand creates supply!
Lack of pronounced seasonality. For example, fur coats, sleds or swimsuits have a fairly pronounced seasonality for the seasons. To start the first project, it is better to choose a niche where such seasonality is not clearly visible.