Business product ideas might be many but selecting one of those product ideas is a very difficult task. You may consider two approaches-One is to consider a general category product which is a successful one and appealing to all. The second one might not be generic to all but suitable or appealing to a particular category of crowd-which is also known Niche Category.
We will be focussing such niche products which you may consider as a product idea for a successful business. And once you decide the product, the first and foremost step should be to validate the idea
Now let us discuss some of the profitable niche products ideas of 2020.
Fidget spinner is basically a toy which became very popular among kids in the year 2017. But it was invented way back in 1993 and was promoted to help people who have difficulty focusing. There were cases that a fidget spinner has helped to calm down people who have anxiety and other neurological disorders or psychological stress. Though there is no scientific evidence for such treatments. They come in different sizes and shapes.
Ages ago, the beard was a symbol valued to the warrior. It was a symbol of both respect and honor, and it supported a man on and off the battlefield. In the modern world, a beard is treated a fashion statement, a look showing the maturity level also. Though this is more popular among masses and not classes. This is very niche and the products related to its maintenance of beards are very rare. So introducing beard oil in the urban market is a very good product for a successful business proposition.
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Accessories for men have a become very integral part of their attires, which was earlier treated as a routine thing for women. Men have started paying attention towards their accessories which include trendy cufflinks with variety of shapes like dumbles, boxing gloves, socks, pocket squares and ties with different types of prints on it like animated or floral. Still, there is the scope of business in this category of products as there are limited players in this market.
Nowadays there a rage of people moving towards a healthy lifestyle. And people either running marathons, cycling, going for regular gym workouts and so on. So here comes the introduction of more and more intake protein bars as a quick snack as mid-meal especially during busy office schedule. These protein or granola bars do not require much of investment and can be started in small scale from home itself especially housewives can start this business with proper branding and packaging.
One more great trendy product which is an in-thing in the urban market is a smartwatch. Though there are big players in this market like Apple, Google, and Garmin. But there is a need for basic and good quality watches. Since people are adopting a healthy lifestyle and would love to track their step counts and heart, so just with these two basic functions also the smartwatch is a very good product idea.
Mobile Phone Accessories
These days markets are flooded with various types of mobile phones also termed as SMARTPHONES, with loads of features. So the demand for trendy phone accessories is in a huge craze. Mobile Accessories which were traditionally considered as only a headphone and power bank are far beyond that. Accessories in trend include wireless headphone with great output, external lenses to be attached to Phone cameras, phone cases or covers, wireless phone compact keyboards.
Decoupage is modern art of decorating an object by pasting coloured paper cutouts onto it in combination with unique paint effects, gold leaf, and various other decorative elements. This concept was more popular in western counties and now increasingly being used by many people in India also. Generally, an object similar to a small box or a piece of furniture is covered by patterns from magazines or from purpose-manufactured papers. This type of finished product does not require much investment.
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Organic beauty products
Just like Healthy food even organic cosmetics are in trend. Using cosmetics that are heavily loaded with chemicals are becoming things of past. Urban people are using beauty products with lesser or no chemical but having natural ingredients. In fact, giant companies in these industries are manufacturing natural or less chemical and scientifically tested products for sale in the market. Organic Products available are soaps, scrubs, shampoos, facial mask, etc. In fact, you may also think of starting manufacturing or trading of one of these products on a small scale with less investment.
Trending Pet Products
People own pets for different reasons. Some keep pets because of their physical attractiveness. While others keep pets for companionship or enjoy the attachment and fun with their pets.When back home after a hectic day at the office, they feel relaxed and stress-free when welcomed by their pets like cats or dogs wagging their tail. Trendy products related to pets include fancy fish tanks, raincoat for cats or dogs, mask to avoid pollution and so on.
If there is a crazy niche, it is vegans. They are extremely passionate particularly the planet and their body. For vegan, natural products are not sufficient. It ought to be vegan. Cruelty-free products are taking a belief to call out businesses that experiment on animals. The most beneficial part is the market is presumed to grow 6% in the coming years.
So to conclude we may say that we think modernization is impacting human life a lot and innovation is the king of all the new product ideas. We only get a feeling of discomfort in using a product the simplified substitute of that same product gets already evolved in the market. Only thing is, that our product idea needs to be validated on a reliable platform so that we come to know whether there is a need for our product idea in the market. One such platform for the idea validation is Howkya.