Whether you are a startup or looking to start one, it is important to recognize the markets that are up and coming to help grow your business or enter into them. It is also prudent for new startups to determine a business venture that will be viable and have some growth potential in the near future.
Below are several markets that have come to the forefront recently that you should take a closer look at as they are in high demand categories shown to be increasing at a fast rate. Here are some of the top markets growing steadily this year that you should pay attention to.
Mobile Commerce
Focused Internet technology gives you the ability to offer your products and services through mobile devices. By allowing your customers to buy directly from you using their iPad, cell phone or tablet, you can drives sales directly via the most popular and convenient shopping technology.
If your website is not enabled to allow Ecommerce or appear in search results properly, you are losing out on new sales and branding opportunities. Make a concerted effort to offer mobile sales to your consumers as this is the future of online sales. People want to use the most convenient platform possible to do their shopping now, especially during the holidays, and into the future.
Internet Technology Services
With the Internet growing daily, services tailored around assisting Internet users and website owners will remain in high demand. Products and services that center around the Internet will succeed as there is a growing need for search engine optimization, website building platforms, and the security of websites.
Factor in the requirement for more educational opportunities that are online and you have a makings of a high market demand that is focused on the how the Internet is used. As a startup, you need to consider how you can take advantage of this customer base with your products and services and share in the revenue stream comes with this offering.
Eco-Friendly Living
Living green isn’t easy but many people are turning toward the trend of living in a manner that supports a healthy environment. Some examples are green home design or products and services that help promote a reduced carbon footprint both in and out of the home. Startups can look for ways that to promote environmentally-friendly products and services in their business to gain new customers that are hopping on the bandwagon to be a little greener in their everyday life.
Energy efficient appliances, green kitchen design, and many others represent a myriad of ways that your business startup can follow this trend and cultivate a new base of customers in the process. People who would invest in your company will be informed about what is happening in the market and will give you more consideration if you are greener in your attempt to serve this customer base.
Wellness and Health
This is another niche market that is showing no signs of slowing down as consumers desire to address their overall health and longevity continues to move forward. This market includes everything from energy drinks to wrinkle creams and exercise equipment that allow consumers to retain their youthfulness, fight disease and illness, and always have their best appearance.
The Baby Boomer generation is especially focused on finding that fountain of youth. With this generation dictating much of the spending that consumers do today and being an under-served category, targeting your products and services directly to them can help you enter into a market that has discretionary income to spend on such luxury items.
Rising health care costs are driving attention in this market as more focus is placed on preventive health and staying healthy through personal care. Add in the fact that the average life expectancy is increasing and you have a wealth of opportunity.
Markets To Keep An Eye On
While these are four markets that are trending, there are some new up and coming niches that are making advancements at a surprisingly rapid pace. Virtual reality (VR) is becoming more of a reality and the ability to integrate this technology into your business startup may give your business a leg up in the future.
Artificial intelligence (AI) is another market that is getting attention as well as cloud-based systems that seem to be integrating into every business opportunity. Internet of Things (IoT) is also trending in home products as consumers look to stay connected to their homes despite their location.
As we see in the news with large scale data breaches, security is a hot topic as consumers become increasingly concerned about fraud protection. Branchingn out into these markets may be what you need to add to your revenue stream or reach a new base of customers with your products and services.
If you are seeking outside funding, keep these markets in mind as your investors are certainly tuned into these potential niches. Some of these markets may be an important element of what’s missing in your business plan or a turning point for your business startup. In either case, these are markets to pay attention to and get involved with as there will be plenty of spending in these areas by consumers now and into the future.
For more information on startups and how to take your business to the next level, please visit Worldwide Business with kathy ireland.
