…7 recommended niches for fast market penetration
- Fashion industry
The fashion industry in Nigeria today is booming because of the rapid population growth of Nigeria. The population of Nigeria is very youthful meaning that we have so many young people including those within the school age and working class people who are still considered as young adults. As far as fashion is concerned, the youth are more fashionable than the older generation and so this accounts for the high attractiveness of the fashion industry in Nigeria. Fashion goes from products like clothing, footwear, underwear, clothing accessories, etc. The same way people, most especially women flood fashion stores and supermarkets is the same way they patronize online fashion stores. Because of advancements of information technology, it is easy for made to fit clothing to be ordered online without much concern on how it will be made. The fashion industry offers so many sub-niches an e-commerce operator can look at that others are not aware of yet. Some are areas like materials for dresses, fashion accessories, etc.
- Animal Products
The market for animal products ranges from feed, to medication, machineries for processing and storage, etc. Nigeria has one of the largest population of cattle and other types of pets and livestock in Africa. Sale of live animals is also captured in the e-commerce dimension of animal products. This is a business opportunity that is available even for those with minimal capital outlay. Also based on the sheer size of the market for animal products, this business is better started on a regional scale that is being restricted to a geographical area and with time one can grow to extend operations to more areas. Animal products have the issue of lifespan, particularly when you are talking of dressed products and so one must ensure that the quality of products up to the point of delivery or consumption is not compromised.
DAVID SOLOMON APRIL 2025 BUSINESS OPPORTUNITIES REPORT. First slot was published last week.
Kola Owolabi, (FIMC) Fellow of the Nigerian Institute of Management Consultants, is the CEO of David Solomon Consulting Limited based in Igbesa, a surburb of greater Lagos, in the vicinity of Crawford University. The organization has had the opportunity to execute landmark business development (business plan preparation and conduct of feasibility studies) and market research briefs for organizations both within and outside Nigeria. He can be reached by phone or WhatsApp through 08023203198.
