20 High Demand Products With Low Competition
In this article, we will discuss 20 high demand products with low competition. If you want to skip our detailed analysis, you can go directly to 5 High Demand Products With Low Competition.
Recent trends in e-commerce suggest that the dropshipping industry is a major driver. Most drop shippers try to find a niche market to avoid losses. The niche market targets customer segments that large corporations conventionally do not target because it is not profitable for them to do so.
According to a report by Grand View Research, the global dropshipping market was valued at $255.99 billion in 2022. The global dropshipping market is expected to grow at a compound annual growth rate (CAGR) of 23.4% between 2023 and 2030 and reach $1.25 trillion by the end of the forecasted period.
Does Social Media Provide an Opportunity to Drop Shippers?
The incidence of social media and e-commerce platforms has made it easier and more effective for businesses to automate most of their dropshipping processes.
Social media platforms have long been used as a means to garner awareness for brands. However, recent updates suggest another story. Instagram and Facebook developed their in-platform online marketplaces for business owners years ago, paving the way for other prominent social media platforms to follow suit. On September 12, Reuters reported that TikTok is set to launch its online shopping experience in the US market. The e-commerce platform by TikTok not only allows users to display their products under the shop tab, but business owners can also integrate third-party software such as Shopify and Salesforce into the platform. The bold move by TikTok could be a game-changer for the e-commerce industry, especially for drop shippers. With over 150 million users of TikTok in the United States, the app allows drop shippers to target a huge potential market.
Prominent Platforms to Sell Your Niche Products
While social commerce platforms may be the next big thing, dedicated e-commerce platforms offer a wider range of offerings. Lightspeed Commerce Inc. (NYSE:LSPD), Squarespace, Inc. (NYSE:SQSP), and BigCommerce Holdings, Inc. (NASDAQ:BIGC) are some of the leading e-commerce platforms that allow small business owners to set up a dropshipping business. You can check out some of the best e-commerce platforms for small business owners in 2023.
Lightspeed Commerce Inc. (NYSE:LSPD) is an e-commerce company based in Canada. Founded in 2005, the company is one of the leading point-of-sale companies in the e-commerce industry. Business owners can connect their online store to Alibaba to set up their dropshipping store. On September 27, Lightspeed Commerce Inc. (NYSE:LSPD) launched new features for enhancing merchant operations. The new tools include a time clock, shipment history, and automated ordering. The features allow business owners to track their orders and automate their inventory management system.
Squarespace, Inc. (NYSE:SQSP) is an e-commerce and website-building company in the United States. Squarespace, Inc. (NYSE:SQSP) allows drop shippers to connect their stores to Printful and Spocket. On June 15, Squarespace, Inc. (NYSE:SQSP) announced that the company is to enter a definitive purchase agreement with Google. The purchase agreement will allow Squarespace, Inc. (NYSE:SQSP) to acquire assets associated with Google's domains business. The agreement involves the purchase of almost 10 million domains hosted on Google Domains, accounting for millions of customers. The move offers the company a wealth of opportunity in terms of growth.
BigCommerce Holdings, Inc. (NASDAQ:BIGC) is a leading e-commerce platform in the United States. BigCommerce Holdings, Inc. (NASDAQ:BIGC) allows business owners to create a dropshipping business within minutes. Drop shippers using BigCommerce can connect their stores to Spocket. On September 25, BigCommerce Holdings, Inc. (NASDAQ:BIGC) launched its B2B Edition Invoice Portal. The new tool allows companies to transform their payment process for B2B stakeholders. The enterprise-grade, out-of-the-box payment tool allows businesses to integrate invoice payments with a centralized online workflow through the B2B Edition Buyer Portal.
These platforms have made setting up an online business easier. However, knowing what products to sell may be a challenging task. It is to be noted that some products sell well but may be saturated. At the same time, others with limited competition may not be able to drive enough sales. Finding the balance between the two is key. With that, let's look at the 20 high demand products with low competition. You can also check out high demand products to sell online.
20 High Demand Products With Low Competition
Our Methodology
We employed a consensus-driven approach to determine the 20 high demand products with low competition. Our research commenced by deconstructing the type of products that yield a smaller number of competitors. Based on some research, we concluded that products targeting the niche market tend to fit the criteria required by the title. We then consulted blog reports from 6 sources to determine the best selling niche products in the market with little competition. These included AliDropship, NicheDropshipping, Algopix, Shopify, Global Sources, and Autods. This thorough process enabled us to curate our initial pool of 30 high demand products with low competition. We assessed the 20 high demand products with low competition based on the global search volume sourced from Semrush. The list is in ascending order of the aforementioned metric. It is to be noted that Semrush updates the search volumes on a monthly basis.
20 High Demand Products With Low Competition
20. Solar Energy Products
Global Search Volume: 1,000
With a global search volume of 1,000 as of October 17, solar energy products rank among the top 20 high demand products with low competition. Solar energy products include solar panels, solar inverters, solar storage batteries, and solar lights, among others.
Lightspeed Commerce Inc. (NYSE:LSPD), Squarespace, Inc. (NYSE:SQSP), and BigCommerce Holdings, Inc. (NASDAQ:BIGC) are some of the leading e-commerce platforms.
19. Health & Personal Care
Global Search Volume: 5,800
According to our methodology, health and personal care products are among the top 20 high demand products with low competition. Health and personal care products have a global search volume of 5,800 as of October 17.
18. Indoor Sports Equipment
Global Search Volume: 14,800
Indoor sports equipment has gained immense popularity over the years. With a global search volume of 14,800 as of October 17, indoor sports equipment ranks among the top 20 high demand products with low competition.
17. Bluetooth Gadgets
Global Search Volume: 15,100
With the recent boom in technology, bluetooth gadgets have become immensely popular. According to our methodology, bluetooth gadgets rank among the top 20 high ranked products with low competition. Bluetooth gadgets have a global search volume of 15,100 as of October 17, 2023.
16. Pet Products
Global Search Volume: 15,500
With a global search volume of 15,500 as of October 17, 2023, pet products rank among the top 20 high demand products with low competition. Pet products include pet food and pet accessories to name a few.
15. Sustainable Products
Global Search Volume: 17,700
Sustainability is at the core of most businesses today. According to our methodology, sustainable products rank among the top 20 high demand products with low competition.
14. Gaming Accessories
Global Search Volume: 21,800
The gaming industry is highly popular and has gained immense traction over the past year. With a global search volume of 21,800 as of October 17, gaming accessories rank among the top 20 high demand products with low competition.
13. Smart Home Devices
Global Search Volume: 23,000
Smart home devices allow people to automate simple tasks at home. With a search volume of 23,000, smart home devices rank among the top 20 high demand products with low competition.
12. DIY Crafts
Global Search Volume: 27,700
According to our methodology, DIY crafts rank among the top 20 high demand products with low competition. DIY crafts involve handmade products including candles, handmade soap, and handmade jewelry to name a few.
11. Eco-Friendly Products
Global Search Volume: 29,600
Eco-friendly products rank among the top 20 high demand products with low competition. Eco-friendly products have a global search volume of 29,600 as of October 17. Popular eco-friendly products include beeswax food wraps, bamboo toilet paper, and reusable produce bags to name a few.
10. Travel Accessories
Global Search Volume: 32,400
The travel industry is significantly booming, contributing to increased demand for travel accessories. With a global search volume of 32,400 as of 17 October 2023, travel accessories rank among the top 20 high demand products with low competition.
9. Office Equipment
Global Search Volume: 35,100
With the incidence of remote work, the demand for office equipment has risen exponentially. Office equipment has a global search volume of 35,100 as of October 17, 2023.
8. Sports Equipment
Global Search Volume: 41.500
According to our methodology, sports equipment ranks among the top 20 high demand products with low competition. Sports equipment includes cricket spikes, cycling shoes, football boots, and gold shoes to name a few.
7. Beauty Products
Global Search Volume: 45,500
Beauty and wellness products are a popular product choice. With a global search volume of 45,500 as of October 17, beauty and wellness products rank among the top 20 high demand products with low competition.
6. Home Security Products
Global Search Volume: 54,800
According to our methodology, home security products rank among the top 20 high demand products with low competition. Home security products include smart locks, security cameras, and a smart smoke detector to name a few.
If you are looking to sell home security products you can check out the following e-commerce platforms offered by Lightspeed Commerce Inc. (NYSE:LSPD), Squarespace, Inc. (NYSE:SQSP), and BigCommerce Holdings, Inc. (NASDAQ:BIGC), to set up your store.
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Disclosure: None. 20 High Demand Products With Low Competition is published on Insider Monkey.