Even in a slow economy, there's always hope for a fun niche. Take this example: the worldwide baby food market has doubled in that last couple of years. Are there THAT MANY more babies eating? No. There actually is a very small rise in the worldwide birth rate.
It seems that the baby food market is yet another niche that is taking off due to niched consumer desires. We're talking organics. AC Nielsen says there was a 60 percent increase in organic baby food sales from 2000 to 2005. Research firm RNCOS says sales of organic baby milk went up 271 percent from 2004 to 2005, and organic strained food increased 18 percent from 2004 to 2005.
According to 2006 data from Mintel, on average, organic baby foods cost roughly 69 percent more than conventional varieties. That factor doesn’t seem to depress sales, however. Over half of mothers surveyed by Mintel say a food being “all natural” is “very important” when they are choosing baby foods and drinks.
So it’s no wonder that fun niches like organic baby food are on the rise. Consumer will direct their hard-earned dollars where they see fit. Create or expand on a new, fun niche, and you, too, can have a chunk of this income... regardless of economics.
Source: BrandChannel and Barry Silverstein, author of "The Breakaway Brand"
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© 2008 BoostYourBottomLine.com
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