Is Your Market Saturated?
You may be in a saturated market or you may be looking to get into making something that will go into a saturated market. Before you do, here are some things to consider.
An example of handmade items in a saturated market would be Jewelry on Etsy. There are more people selling handmade jewelry than just about any other craft. This could be good or bad depending on how you look at it.
One positive way of looking at it is that all these people would not be in this market if there was not money to be made. They must be selling something and apparently there are customers. The opposite of this would be searching online for similar items to yours and finding that there isn’t anything. This could either mean that this is a great market to jump into and you will enjoy not having any competition or you may find that there simply isn’t a market at all for your type of product.
There are obviously a few negative points to mention about going into a saturated market. The first one is that others have already established themselves. There are well known sellers who already have a customer base and created their website years ago. Older websites generally rank higher than new ones and are more difficult to compete with.
If you choose to pay for advertising, it will be more expensive. The more people competing for ads, like on Google Adwords, the higher the cost per click.
In order to be visible in a saturated market you will need to be different. You must have a product that is better than the rest. You have to stand out. It is not going to be worth trying to compete if your product is the same as all the others. You will be lost in the crowd.
You will need to have many items for sale, have excellent SEO, great photos of your products, a lot of links to your website, and of course a very high quality product.
While there are obvious drawbacks to a saturated market that does not mean you should not enter one. If you are very good at making jewelry for instance and you have a passion for it, go for it. Make something different than the rest and be better than your competition. If you haven’t decided what product you would like to make and are taking a look at different ideas, realize that finding a less saturated market will make marketing your items much easier.