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Think of a retail boutique with a very, very limited range of products and bargain basement prices. Now, put that on the Internet and you have the next big thing in online shopping.
Niche online stores are making a name for themselves by finding cool stuff -- from travel deals to live event tickets to surplus electronic and other thingies -- at discount prices that keep bargain hunters coming back again and again.
Niche Ecommerce Sites Can Compete [uk.reuters.com]
In fact, I find some of the niche ecommerce sites I use provide excellent service and I return to them again and again.
Niche - A situation or activity specially suited to a person's interests, abilities, or nature. A special area of demand for a product or service.
I'd say this not only applies to Ecommerce but every website out there. The "Niche" is where you want to be in the long term. Outside the "Niche", the margins are thin and the competition is fierce.
I'm finding Local Niche's each and every time I go out. There are so many "golden opportunities" out there at the local level.
For example, I just went to the Sawdust Festival in Laguna this month. Wow, the local artists really have a great thing going. And you know what? Someone needs to help them bring their products to an International market. And, I have just the person in mind to assist them. :)
"It's the power of the specialist. They know we are good at what we do," said Jim McCarthy, co-founder and chief executive of Gold Star Events
But I dominate the niche in my country.. Infact, I have no hesitation in directing surfers to Amazon, and they almost always come back.
As has been said, specialized knowledge and personalized service makes hell of a difference.. But I can compete on prices too as I have lower infrastructure costs..
The trick is to work in a NICHE within a NICHE and then add value which the big retailers cannot do so, without significant costs..