Consumer demand heavily influences resource allocation, product innovation, pricing, investment decisions, employment levels, and overall economic health.
Use Amazon data and sales estimates, analyze reviews, follow social media trends, explore niche markets with devoted customers, consider seasons and events, validate ideas through small test batches.
Eco-friendly products, health devices, smart home tech, organic skincare, specialty cooking items, pet accessories, travel gear, baby products, personalized goods, outdoor recreation equipment.
No, thorough market validation and testing is still essential before investing and scaling a new product venture in any niche.
Research how many other sellers there are, look at customer reviews and analyze for unmet needs, examine product differentiation opportunities through innovation.
Amazon Best Sellers Rank, Google Trends, social media monitoring tools, email surveys, Kickstarter data, industry reports from market research firms.
Continuously follow market trends, consumer preferences evolve rapidly. Formally reassess your product portfolio on a quarterly or biannual basis.
