Having insight on what niches will have a strong demand in 2020 can help you plan better for your dropshipping business.
Dropshipping remains a profitable business model despite its highly competitive market. As a dropshipping business owner, having an idea of what the market is gonna be like in 2020 can help you come up with better plans and strategies to stay competitive in this industry. Will you be selling dropshipping products based on the latest trends and innovations? Or, you’ll pick a timeless niche that’ll stay popular forever?
To help you decide the niche to pursue, here are 8 most promising dropshipping niches for 2020.
Wearable Technology Niche
The pursuit of a more improved technology never stops. Everywhere in the world, companies are continuously working to make people’s life easier, better, and cleaner. There will always be new product releases that will allow you to earn more revenue. One of the high-tech stuff that hasn’t lost its shine years after they were introduced is the wearable devices like health and fitness trackers. Wearable technology is getting more sophisticated than ever.
As people around the world are getting more conscious about their health, the market for wearable fitness and health gadgets remains stable over the years.
According to the Wearable Devices Market Forecast, the market will keep on increasing by 25.76% every year in the next 5 years and expected to hit $24.640 billion by 2022. With wearable devices not showing any sign of slowing down anytime soon, the niche potential is truly astounding.
This niche is too broad and there are so many potentials if you niche down. As lifestyle products are helpful in people’s daily lives, there will always be a strong demand for them. Just take a look at how the travel gear topic is performing on Google Trends.
- Travel Gear and Accessories
As tens of millions of middle-class people worldwide have obtained the capability to travel in the past few decades, mass tourism is a very big thing right now. International tourist arrivals worldwide are reported to be 1.4 billion today which is an enormous leap from just about 70 million registered arrivals in 1960. And with experiential travel growing in popularity, people will keep on looking for the latest travel/survival gear and accessories being offered in the market.
- Indoor Gardening Tools
Another niche to consider is indoor gardening. With 80% of the US population living in urban areas, there’s not much room to grow plants for food. As more people are turning into a cleaner, plant-based diet the interest in producing organic food at home is increasing. Indoor gardening is making a big comeback. As 30 percent of households are buying at least one plant they can grow indoors, you wouldn’t want to miss out on the chance to earn big with indoor gardening tools.
- Eco-Friendly Lifestyle Products
With people increasingly embracing sustainability, the drive towards supporting eco-friendly products will keep on getting stronger. It is spreading on a global scale. Based on a CGS survey, shoppers want sustainable products and 47% would pay more for them. As more and more people are interested in adopting this lifestyle, this is a niche that will keep you earning profits for a long time.
People are always looking for the latest trends in fashion from head to foot. With fashion runways and celebrities inspiring different looks, there will always be a race to steal their styles. Fashion accessories can easily trigger impulse buying but interest will die out after some time. However, when new designs emerge in the market, interests will be growing again.
Women’s apparel, on the other hand, is an evergreen niche. Some sub-niches like thick sweaters might fall out of trend come spring and summer but they’ll sure to be back again when the air starts to chill. Lace clothing, however, never loses its market.
Lacy tops, dresses, and lingerie is wardrobe staples for women who want to look elegant and feminine at the same time. If you’re looking for a timeless niche, this is a great one.
Kids’ Toys Niche
Looking at the interest in this niche on Google Trends, the interest is very high during the holiday season but maintains a steady performance on regular days. This means that the demand will never decline for kids’ toys. With 250 babies being born every minute around the world, parents will be buying toys at some point in their children’s lives.
Pet owners especially those who don’t have children yet love to buy stuff for their fur babies. As many of them are busy with their careers, they prefer to shop online than physical stores. This is a niche that is highly profitable with the right promotion and positioning of your dropshipping store.
According to the IHRSA study in 2019, more than 1 in 5 Americans belong to at least one US health club or studio. This does not account for those people who prefer to work out at their own homes or neighborhood. There’s a continuous demand for sportswear out there all through the year.
Fitness is a huge industry with people looking for low-cost means of working out to stay fit and healthy. Selling high-quality sportswear at low prices to this audience can get you a chunk of this niche of fitness enthusiasts.
There you have it, our list of the 8 most promising dropshipping niches for 2020. While this list can help you quickly find the best niche for dropshipping, you can do further research to get more niche ideas. If you’re passionate about something, use that as a niche for dropshipping products. After all, passion and smart work are all you need to succeed in dropshipping.