3 Niche Online Markets to Watch This Year
Recent research from the Internet Association shows online business contributed a monumental £45 billion to the UK’s GDP. It's safe to say we’re a nation with our finger firmly on the online pulse. Regional markets are also finding a home on the web too, especially in cosmopolitan cities, natural wonders, or tourist spots like Devon. Here are three online markets to keep your business eye on.
#1 - Airbnb Experiences
Every year, thousands of people flock to Devon for the scenery, sandy beaches, and famous ice cream. Airbnb offers a chance for these visitors to “live like a local” while also providing a platform for said locals to turn their property into places to stay. It’s estimated there are 5 million spaces registered on Airbnb – and counting.
Airbnb Experiences, on the other hand, take living like a local one step further. Devon business owners are teaching tourists how to make gin in a treehouse, some are showing visitors the art of foraging oysters, while one group is providing guided kayak tours on the Fowey Estuary. Airbnb Experiences is now one of the most popular places for travellers to find fun. So, if you’re looking to expand your own business opportunities, it’s worth keeping your eye on this one. You might even find something sat on your bucket list.
#2 - Online Casino
Online gaming might not be as new a market as Airbnb Experiences. Yet, even after decades of existence, its submarkets continue to grow year after year. Online casinos are one of them.
Great Britain’s gambling industry saw over £14 billion in gross revenue last year. Thanks to developments in interconnective technology and affordable data, more people are enjoying casino games from their own home, contributing massively to this yield.
It’s estimated there are currently around 341 online operators available in the UK. Then, you also have review websites that rank and rate casinos for players. Bonus Finder, for example, breaks down hundreds of casino offers for customers to recommend the best ones, as you can see in a review link here. So, there’s plenty of competition among online casinos, which then creates an incentive for expansion and growth. We’d recommend looking at review sites to find the top-rated casinos, if you plan to invest – or look into the world of affiliate marketing for this sector.
#3 - Local produce boxes
Step aside, supermarkets! The locals are back and business is booming. Local produce boxes are becoming increasingly popular in the digital age. People who might not be able to visit a farm shop are connecting with the agriculture community online and having their fresh fruit, veg, and meat delivered to their door.
Veg in a Box are a great example of a local business embracing online commerce. They’ve won awards aplenty from the likes of The Observer and Devon Life, and still deliver boxes of local produce to homes around Devon and Exeter. Then, if you want to go even more niche, you have the likes of The Cheese Shed, a West Country online mail order service for specialist cheeses. Most of these businesses are born from small, local enterprises with only a few hands on deck. They also offer a welcome break from huge supermarket chains, not to mention stiff competition.
What we’re seeing here is local enterprises embracing everything digital. Some, like Veg in a Box, might keep their delivery services local, whereas others send parcels all across Britain. Either way, produce boxes are becoming even bigger business now more people shop online. They’re certainly one online market to keep on your radar.
When we hear the word “online” in business, it’s easy to get the image of young startups surrounded by tech in your mind. Yet, when we look at the emerging markets, it’s clear to see local and entertainment are making a comeback too. Digitisation is opening the door for enterprises to grow their network, expand their horizons, and ultimately do better businesses. If you’re after emerging markets to watch in the future, take some time to research those above.
