Which Niches Will be the Most Profitable in 2020?
This is going to be more of a discussion, than me telling you which niches are going to be popular in 2020. The reality is that ALL niches are lucrative in their own sense, some niches being more "evergreen" or having ongoing interest.
I typically divide the niche market up into three different types of niches. There are seasonal niches, fad niches, and evergreen niches. You ideally want to choose a niche that is evergreen, which is a niche that sustains popularity throughout the year.
Below I am going to discuss the three different categories of niches, and provide you with some examples.
Seasonal niches are usually centered around particular holidays, occasions or events. Some examples of seasonal niches are the following.
- Halloween Costumes
- Christmas Carolling
- Easter Toy
- Valentine's Day Gifts
- Fantasy Football (albeit almost become year round)
- Local Events that Happen once per year.
A lot of people think that things like "swim wear" or niches related to what they do during a particular season are seasonal. As funny as that sounds, they are not because different areas of the world have their seasons at a different time. For example, in December it is the thick of the summer in Australia, yet the thick of the winter here in North America. Summer related consumer goods sell on the Eastern Hemisphere very well during the October to March months.
These are evergreen niches. Whereas events that have a particular date, are typically seasons. This includes Halloween related niches, Christmas, Valentine's Day, Easter, Mother's Day, etc.
Fad niches are niches that come and go, or for an obvious word, a "fad". You typically see these with popular products, or industries that gain popularity and then quickly subside.
Although things like cryptocurrencies are still somewhat popular, they have lost a great deal of their extraordinary, yet "fad" popularity from 12-18 months ago.
Other fads would be things like Tickle Me Elmo, which you couldn't keep on the shelves a few years ago. Entire industries are typically not fads, typically it is more products that are niches of this nature.
There is definitely lots of money to be earned in the fad space, but do know that these should not be core "authority" type websites that you are building.
An evergreen niche is one that is always going to remain popular on a day in, day out basis throughout the year. With 4 BILLION people online now, pretty much every niche is going to fall into this category.
An evergreen niche is going to allow you to create an authority website, which will lead to a long term, and very much sustainable business online. An example of evergreen would be dieting. As long as there are PEOPLE, there are going to be people dieting, attempting to lose weight, gain weight, and to improve their health through weight loss.
That is just one example. One way to determine whether your niche is evergreen is to ask yourself whether your niche will have popularity every day, through the year. Then decide on whether it will be popular 10 years from now. If it is, then you can build a long term business around this niche, and establish yourself as an authority within the space.
There you have it. Most niches are going to be really popular in 2020, and there are going to be some fads that come and go in 2020. The fads of next year, are likely building some popularity now.
I don't recommend that you are a "fad" hunter unless you already have successful authority websites in full operation, where you can seek out smaller and more time sensitive pockets of opportunity.
I would love to hear your feedback on niches, and what niches you think are going to gain traction and popularity in 2020. Leave your comments below!