An Introduction to Niche Markets
a. What is a Niche Market?
“A niche market refers to a small yet specific and defined segment of the population. The niche markets do not exist by themselves but are created according to the needs, desires and identified requirements that are hardly or not addressed at all by other companies that develop and offer goods and services to satisfy them.” (Business dictionnary).
There are thousands of niche markets and new ones are created every day! There are two main types of niche markets:
- Those who want to address a passion
- Those who surf the web daily
b. Why do Customers Buy T-shirts?
- They want an idea close to their heart
T-shirts supporting political parties, animal or environmental causes, and religious beliefs or social movements are particularly popular at Teezily.
- They want people to react to what they see
Some consumers like to wear provocative clothing to make others react. Others just want to make you smile with their T-shirt. More often than not, your consumers will buy T-shirts simply because they want to attract the attention of the opposite sex.
- They want to belong to a group
Your consumers will buy T-shirts because they want to belong to a group. This could be a football team or a church for example. The concept may also be very specific because it can be for a party going to a particular travel destination or for a hen/stag do. This makes it exclusive, different and even special!
c. When do They Buy T-shirts?
Generally speaking, you will never buy the shirt of a team that lost the night before! Your consumers want to be associated with a winning team!
In other words, you have to run your campaign when your audience is in the right frame of mind to buy! This is the best way to get an excellent conversion rate and a very good ROI on your campaigns.
People want to show, with the highest number possible, that they belong to the winning group.
The greatest success when marketing T-shirts combines the “when” and “why” even if they have already earned a lot of money with just the “why”.
However, if you are targeting a generalised audience, there is very little chance that you will sell anything even if you think you are selling at the right time.