Shopify Development – Niche or Broad Store – Day4
Which Business model should I choose when opening a Shopify Store – Vancouver Shopify Developer
The target audience of a niche store is a group of users who are enthusiastic about a certain point. For example, if you build a shop for cat lovers, then this group of audiences is very enthusiastic about cats.
Advantages of choosing Niche Market: Shopify Development Vancouver
1. You can quickly open brand awareness
Niche stores can attract repeat customers, and their shopping behavior is crazy. In a niche store, they will think that your brand knows them and that your brand is a part of their group.
2. Customer loyalty value will be higher
Customers are passionate about this niche, you can continue to sell niche products to them. Moreover, it is easier to establish after-sales follow-up emails.
You can send generally recommended product emails to customers, instead of setting up different emails based on different products purchased by users like a store.
3. Niche stores can easily accumulate a customer base
Customers are passionate about this niche, so they will continue to buy products from you. If you can provide relevant products to an audience who likes a certain niche, then your path to making money will continue.
4. Easier to choose products
Because if you choose products based on a niche market, the product categories will not be broad. Therefore, when you choose products, there are not so many choices, it will be easier.
Disadvantages of choosing Niche Market: Shopify App developer Vancouver
1. Niche stores are difficult to scale because your audience is too precise
If you open a shop, the products you sell have elephant elements. Then, your product can only attract audiences who like elephants.
And these audiences who like elephants may not be passionate about products with elephant elements and buy them. Assuming that your audience is about 1 million, the conversation will not be high.
2. Niche stores are difficult to operate across categories
For example, if you sell products with elephant elements, it is difficult for a niche store to sell products with cat elements, because your domain name may be elephantlovers.com, which is completely independent of cats.
If you sell shoelaces but want to sell pet supplies as well, then you have to open a new store.
3. Hard to test
It is hard to pick up a good product to sell. So when you research your niche market, you actually spend a lot of time.
Once you decide and build the website. You might find that this product is not liked by users, or the advertising cost is very high.
At this time, the limitations of Niche come, and General stores do not have this problem. If the product test fails, then change it until Winning ads are selected, and the volume is expanded on this basis.
Advantages of Broad Market Strategy – Shopify Website Development Vancouver
1. Unlimited categories in Shopify stores
The Shopify store is not limited to categories, and you can sell everything. For example, you can sell socks with cat patterns, you can sell T-shirts with elephant patterns, and you can also sell mobile phone holders. . . . . .
2. Broad Products stores are easy to scale
If your product is unrestricted, don’t worry about catering to a certain audience or niche, because your audience is everyone. Of course, the store invisibly reduces your brand value.
What I mean is that stores have an impact on the conversion rate. According to my experience, the conversion rate of niche stores is generally 1%-5% higher than that of broad product stores.
3. Orders can be obtained during the process of building a store
You can upload many products to the store and start advertising.
The revenue from the order can be reinvested in advertising. Moreover, because you have a lot of products, you have a lot of room to test, for example, you can test different a lot of keywords.
Disadvantages of Broad Market Strategy
1. It’s hard to build customer loyalty
If you sell everything, it will be difficult for customers to be loyal to your shop. Users are more inclined to be attracted to niche stores.
2. Broad Product stores have lower conversion rates
If your Instagram or FB page is not for a specific niche, the conversion rate of your stores is generally lower than that of niche stores.
What does that mean? Make an analogy