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Battle of Approaches

Niche online store vs One product store

Niche online store
VS
One product store

Hey, guys. I want to open my own online store and sell only one product, but friends tell me it's complicated and it's better to give preference to a niche store. What do you think?

11

Results

Niche online store vs One product store

75% points
25% points

Niche online store

One product store

Votes — 3 points
2 positive arguments
2 negative arguments
Votes — 1 points
3 positive arguments
4 negative arguments
Niche online store
One product store

Positive & Negative Arguments

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Positive argument for “Niche online store”

Wide product line

5

A niche store has a quite wide product line. The customer goes to your website in search of one product, and at the same time, he can buy your other products and completely cover his needs. For example, if you have a home goods store, the customer can buy not only a mop, but also bed linen and a shower curtain, and thus solve all his problems. That is, unlike one product store, it's easier for you to do cross-selling and upselling because your products are linked by one niche. Also, if one of your products is no longer popular, you can replace or remove it. You can't do this in one product store. Creating your brand, based on your chosen niche, is much easier.

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Positive argument for “Niche online store”

It's easy to promote your products online

3

When you have a niche store, you know exactly who your audience is. It could be housewives or men who go fishing. You know exactly where to find that audience and it’s easier to attract them to your site and sell them related products. Otherwise, the only advertising channel for one product store is, in most cases, google ads. That is, here you need to look for those people who are searching on Google for a product similar to yours and show them the ads. And that's much more difficult. Also, if you have a niche store, it’ll be easy for you to build an audience on social media because you can post content both about your product and about lifestyles related to your product. You can do social media collaborations with Influencers.

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Negative argument for “Niche online store”

You have to thoroughly research the market before choosing a niche

2

Before launching your store, you need to do an in-depth analysis, research the market to understand which niche is relevant at the moment. You can't test several niches at the same time, you have to initially stick to one. So before you choose a niche, you have to test the goods from a certain subject and understand whether they are popular or not. Otherwise, you'll waste a lot of time and money testing a niche that doesn't work.

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Negative argument for “Niche online store”

Presence of competitors in your chosen niche

3

In your chosen niche, there may already be a strong player in the market. You need to consider this in advance, as their customers may not want to switch to your brand. You need to think ahead about how to prove to your customers that it's better to buy from you. There is a higher level of competition compared to One Product Store.

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Positive argument for “One product store”

It's easy to work with your audience.

4

Since you only have one product in your store, you know exactly who your audience is, why they want your product, and when they'll buy it. You're not splitting up on constant product sourcing and importing. You concentrate on marketing and finances. Serving customers is as easy as possible because you specialize in just one product and act as an expert in it. You are likely to have a unique store, so you can create a sense of scarcity of that product, which will increase your sales. You can also increase sales with an updated version of the product or accessories that complement it.

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Positive argument for “One product store”

Lower advertising costs

2

Since your store is targeting a specific narrow group of consumers, you can "pump up" the Facebook pixel much faster, which will reduce your advertising costs. Analytics is much easier because you only get feedback and statistics on one product. You can very easily rank for certain keywords with SEO. Well, and a bonus is a relatively high conversion rate because the consumer's attention isn’t scattered to other positions like in a niche store.

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Positive argument for “One product store”

Easy entry into the market

3

Once you've decided on a product, you can quickly enter the market and start selling. Just make a landing page, drive traffic to your website, and start selling your product and make money.

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Negative argument for “One product store”

Risk in product choice

3

You need to do a competitive analysis of the product to achieve good results. It’s better to test it initially in a niche or department store to understand whether it’s relevant to customers or not. If you make a wrong choice of product, then such a store may not recoup the cost of its creation and maintenance of operating expenses in the long run. It's very hard to choose one cool product that a large number of people want. Usually, these are very niche items and few customers or high competition. There’s a big risk of losing business if the product loses relevance. Also, one product will have a greater chance of failing. After the first purchase, customers probably won't come back to you again as they only need your product once.

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Negative argument for “One product store”

You need to invest in the appearance of the product and optimize the advertising

1

Since you have one product in the store, you need to visualize it as much as possible - take professional photos and videos, attract media personalities who will show how to use your product. Unlike a niche store, where you can, for example, design just a couple of products. You need to evelop an attractive landing page that shows your product as clearly as possible. Also, you may have to do a lot of ad optimization until you find the most effective ones.

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Negative argument for “One product store”

Dependence on suppliers.

2

Since you have a unique product, there will be very few suppliers and you’ll always be dependent on them. Moreover, you will most likely need to contract with them because any other vendor, after seeing your sales success, may want to sell the same product.

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Negative argument for “One product store”

The ups and downs of demand for a product

2

Selling one product can quickly skyrocket in sales. For example, you sold a product, imported it from China, it became fashionable and popular. Along with the popularity increased the number of other sellers who also began to bring it from China and sell it. And the product is no longer marginal. The competition grows, the market becomes saturated, the unit economy falls, and now it becomes harder to sell this product every time.

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