Skincare Niche Report. Trends & Micro Niche Ideas.
In this report, you will learn:
- Skincare market trends
- How to pick a profitable sub-niche
- How to make money in the skincare niche
- Sub-niches and micro-niches ideas
- And more!
Skincare Niche Market.
According to Technavio, the professional skincare market will grow by USD 5.17bn during 2020–2024. This market is growing faster than any other beauty industry category, driven by product innovation and product line extension.
Also, data from The NPD Group indicates that the sales of skincare products in the US grew by 13% back in 2018, while makeup sales increased just 1%. This was the first time that the skincare industry grew faster than the makeup industry or any other.
Moreover, the U.S. skincare and toiletries market is benefiting from the rising demand for natural and organic products, with the fastest growth rate of all. Anti-aging products also represent a strong growth area in the US cosmetics and toiletries market.
Lastly, skincare products’ sale is experiencing a change in demand from older consumers to an increasing number of younger consumers. More people are starting to use skincare products earlier than ever to delay the signs of aging.
This growth results from the increasing interest in healthy routines and social media’s impact in this niche- Skincare brands enjoy 40% higher Instagram engagement rates than color cosmetic brands and a 44% increase in followers growth. Today, Instagram is arguably the leading platform in this niche, with stories being vital for engagement and brand awareness.
According to Statista, the global skincare market is estimated to be 189.3 billion U.S. dollars by 2025.
Skincare Niche Trends.
Market trends can help you identify how the market is doing. Trends allow you to see the interest in a certain topic over time.
When analyzing the trends for a niche, it is vital to study the interest over time- If the interest fluctuates a lot with periods going down to zero, it normally would be a bad sign. However, if the trend stays up and is stable or growing, it could be a good sign. There are other factors to consider as well. More on this later.
Also, even though I am talking about the skincare niche, skincare is already a beauty sub-niche.
To analyze trends in the skincare niche, I will use the Google Trends tool. When using this tool, there are a few distinctions to take into account:
- When you search for terms, it will show matches for all the words in a query.
- When you search for topics, it will refer to a group of terms that share the same concept. So the result is broader.
‘ Topics’ can be great to find out the interest of people in a niche. The idea would be to use ‘topics’ to find niches that worth pursuing. Then, you should use ‘ search terms ‘ as the first step towards content creation. This will help you understand if it is worth creating content on a given term based on current trends.
For this report, I will analyze the topic ‘Skin Care.’ Then, I have set the location to worldwide and filter by the past five years.
In the graphic below, you can easily observe that this trend has been stable for a while. Then, it spiked during the Covid outbreak and kept growing the interest over time slowly. This is a sign of a very stable market with many opportunities.
This shows that creating an online business in this niche could definitively work since there is a growing demand. However, to avoid tough competition in this niche, you should niche down and find sub-niche and micro-niche ideas.
So how do you find profitable sub-niche and micro-niche ideas? With proper niche research.
But we’ll get into that in the following sections. Just bear with me.
For now, you can read in this post all the advantages of niche marketing.
How To Pick A Profitable Sub-Niche In
Skincare.
There are many methods you can use to find out exciting sub-niches. The simplest one might be a combination of Wikipedia with Google Suggest to find ideas. Then you can use Google Trend to validate your idea.
This is how to do it:
Step #1. Head to Wikipedia, and in the search bar, type your niche idea:
Step #2. Skim the page for sub-niche ideas:
Step #3. Head to Google.com and enter some of your niche keywords. Google will instantly suggest some sub-niches for you.
You can even keep niching them down as you type:
This is a very effective and easy trick to find sub-niche and micro-niche ideas.
The last step is to use Google Trends to validate the niche. I will use one of the keywords suggested by Google: ‘ skin care for acne.’
The graphic below shows a stable trend with a good number of people with interest over time. It seems that it also increased in popularity by the time of the Covid outbreak.
Also, if you scroll down, you will find a series of related topics and queries. These can be great to find out current trending niches.
You just need to click on the one you are interested in to see the graphic trend. For this example, I clicked on ‘Ordinary skincare’ to show you something: The Ordinary is a popular beauty brand specializing in skincare, which popularity has increased over time, as you can see in the graphic below. This can be a potent method to choose your top affiliates if you want to monetize your website with affiliate marketing since you have already proof people are interested in their products.
Lastly, you could also include in Google trends search bar a few terms from your Google suggestions and pick up the one with more interest:
As you can see, every each of them has experienced an increase in interest. Normally, the higher the interest, the higher is the demand, and so is the competition. So it is vital to find a good balance between all.
In any case, this a very effective method to find sub-niche and micro-niche ideas in any industry quickly.
Lastly, trends that are just starting to grow are the ones with the most potential. It could be a new market blooming, meaning the competition is inexistent or limited. So do no drop ideas only because trends show low numbers. If the trend’s interest is exponentially growing and then it gets stable, it is probably worth pursuing.
Skincare Niche Competition.
As in any niche with demand, competition in the skincare niche can be brutal. Big corporations typically dominate the internet for competitive terms in popular niches. And entrepreneurs like us simply don’t have the resources to compete against them.
That is why sub-niches and micro-niches are a much better option- The more you niche down, the smaller the competence. But if you go too niche, you might face another issue: That the market might be too small. The only way to know is by analyzing keywords directly related to your sub-niche or micro-niche ideas.
To perform keyword research, you will need access to an SEO tool. Here you can find how to do it with Keysearch and SE ranking.
Following the previous example, let’s say your micro-niche is ‘ sustainable skincare.’
As you can see from the image below, the difficulty to rank is ‘effortless,’ which gives you a good chance to stand out.
With your SEO tool's help, you can generate related terms and look for topics without much competition.
In my case, with a quick filter, I came up with a list of 10 keywords with great volume and fairly easy competition:
It took me only five minutes to come up with a list of 10 keywords with low competition and a decent search volume. They also have a reasonable CPC, which suggests there is a commercial value behind most of them.
With this quick keyword research, I was able to find excellent terms for potential blog posts in the skincare niche. You need to stay away from competitive terms and always look for keywords where you stand a chance to rank.
Resources:
- The best keyword research service.
- SE Ranking Review 2021: Pros, Cons, Pricing, and Alternatives.
- The 9 Best AI SEO Software To Quickly Improve your Rankings.
How To Make Money With The Skincare Niche.
There are several ways you can monetize your skincare niche website.
But what works best is to adapt your strategy to the user intent. For instance, if your blog is about sustainable skincare products, an e-commerce store or affiliate marketing will probably be the best solution.
The idea is to adopt a solution to your audience’s problem in the best format. Also, most of the time, online businesses adopt more than one monetization method.
Some methods you can use to make money with health and wellness are:
1. Provide A Service.
Are many who turn to professionals for skincare routines and advice.
Some services you could offer are:
- Become a freelance offering personalized skincare treatments.
- Create a consulting business as part of your blog.
You could offer personalized skincare treatments to your audience or recommend sustainable skincare products based on your client's needs.
When you provide, you don’t need more than a platform to deliver it. For instance, you could directly deliver this information via Skype or Zoom or create individual plans that you could provide over email or with pdfs.
You could even upload a series of videos and deliver them in an online course.
Some website examples using these methods are:
- Glamsquad: On-demand beauty services.
- Formula Botanica: Skincare training.
- Melissa Lekus: Skincare consulting.
Resources:
2. Create A Product.
Products can be a great way to monetize a website easily.
Some products you could create are:
- Niche-specific products to solve your audience’s problems. An e-commerce site could work very well.
- Ebooks. It could contain skincare routines, skincare tips for beginners, etc.
- Videos/Podcasts. You could create videos or podcasts about particular topics, which you could sell individually.
When you present the right product to the right audience, products can be the easiest way to start making money. They also allow you to earn a passive income when you combine them with an evergreen sales funnel.
Some website examples using these methods are:
- Happy Skincare: Skincare ebook.
- DIY Natural: Skincare ebook and products shop.
- Making Cosmetics: Homemade cosmetics.
Resources:
3. Subscriptions & Memberships.
Subscriptions and memberships tend to work great in this niche.
Subscriptions are based on delivering extra value to your readers. This could be access to a premium section, deliver new content only to them, and things like that.
Also, you can get recurring income from memberships. But you need to keep providing value to your readers constantly. This could be by delivering new skincare routines each week, video series, or anything related to your niche.
You can also provide exclusive access to your videos or podcast to your subscribers. And the best thing is that you simply need a plugin like MemberMouse to create subscriptions and memberships effortlessly.
Some website examples using this method are:
- Skin Spa New York: Access to membership treatments.
- Ipsy: Skincare subscription boxes.
- Beauty from the heart: Podcast subscription.
4. Display Ads.
Ads used to be one of the most common ways to monetize websites. However, there are three downsides with them:
Having said so, many businesses use ads as their primary source of income. You could use platforms like Google Adsense, Media.net, VigLink, etc.
In any case, you could place ads just for an extra income rather than the primary source of income.
5. Affiliate Marketing.
This is my favorite method to make money online in any niche.
Affiliate marketing might need some time to get traction, but you will earn a passive income when it does.
All you need to do is to sign to the best affiliate programs in your niche. Then, I suggest you read how to make money with affiliate marketing, and you will be ready to monetize your site with this method.
Some website examples using this method are:
Resources:
- Pinterest Affiliate Marketing: Your guide to passive income.
- Affiliate Email Marketing: The Smart Way To Passive income.
Skincare Sub-Niche And Micro-Niche Ideas.
After putting into practice what I have explained in this report and researching, I have collected a list of sub-niches and micro-niches in skincare that can do a great online business.
I personally recommend focusing on sub-niches where trends are steady even though the volume is not high since they probably will be the ones with fewer competitors. At the end of the day, if you find good enough keywords, you will be able to monetize more easily.
Conclusion
Although skincare can be a very profitable niche, the competition can be fierce. The best option for any entrepreneur who wants to get into the skincare niche is to niche down.
Going sub-niche or micro-niche, you might have fewer customers, but they will be able to find you. This will also help you grow your website authority faster and start making money quicker!
Thank you for your reading.
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Originally published at https://thenicheguru.com on April 14, 2021.