Here's the deal, fair small business owners of the world…niche businesses are the most successful right now. But what happens if someone steals your niche – or moves into your niche with you? Or turns your niche into a commodity (making it, uhm, totally no longer a niche?). Well, as usual, Jackie makes a fine point – you just find a new one. You can't sit around, glum and grumpy. You can't complain or point fingers. You must simply stand up, chin up and lead the way into a new niche with all the gusto with which you found your previous niche.
Whole Foods once owned the "organic grocer" category, but no more. Health Magazine's list of healthiest grocery stores now includes traditional chains like Safeway and Publix.
The niche is gone. Organic has gone mainstream.
When that happens, pricing advantage dissipates, as do margins, as Whole Foods announced some ugly profit results last week, including taking a big cash infusion
from an investor. With competitors hammering you on price and stealing
your market growth, do you compete on their playing field of lower
prices, or do you develop a new niche?
A new niche, of course. For Whole Foods, or a like-minded store, one
opportunity is "special diets," including those related to food
allergies.
Happy niche hunting!
very informative keep on writing online marketing is all about finding a new niche