NICHE STORE OR GENERAL STORE
Table of Content s
01 02
03 04
Introduction
Pros and Cons of each store
Types of
The Com Market
In
Before y take a l especia There is steps, s There a as what or what your co preferen
TYPES OF STORES
TYPES OF STORES
There are basically two types of stores you can pursue; one is a niche store or a general store. General store: They sell products from several niches. They don’t have any restrictions or limitations to sell only one or two types of product. They can sell whatever they want. One example of general store would be “Amazon” – they sell a completely wide vast range of products, starting from kitchen stuff to beauty products to sports kit. Niche Store: Sells products from one specific niche. For example, the niche could be nursing or even gaming. In that case, the product they sell would be closely relevant to nursing or gaming. All the activities of the store would be based on that specific niche
PROS AND CONS OF EAC STORE
General Store – Let’s take a look at the pros and cons of the general store.
Pros
Con s
Flexibility with product testing
Organic cross selling will be less
Easier to make sales initially
Email marketing is less effective
Branding not much important
Social media pages are difficult to build
Niche store - Let’s take a look at the pros and cons of the niche store
Pros
Cons
Organic cross selling is higher
Unstable Growth Pattern
Email/SM pages quicker to build
Failing leads to building a new store
Profitable in the long run
Products are restricted
Branding is critical
T C M
There are a lot of brands that are launching products and failing, mostly because they do not have enough patience or not listening to their customers. Give preference to what you find more interest in and make it stand out amongst other brands. For a beginner, it’s best to start with a general store then experiment, test and then switch to niche store when you have completely grasped how the market works. When you’re jumping from niche to general to brand or vice versa, you might want to have products are sustainable but also have some sort of value in terms of exit strategy. Always pick a product that fits with you and the market equally. If you have passion in your business, it’s going to translate into your products and customer experience and also if you want partnerships or future investments.
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