Got a niche? Scratch it, say experts

During a presentation titled “Niches for every Market,” Mark Scheer, director of field marketing for Memphis, Tenn.-based Orgill, offered the following definition of a market niche: “a specific customer need that is not being addressed.”

“It’s not something you can make up,” Scheer said. “It’s listening to your customer base and evaluating what’s going on.”

During his seminar in Orlando, Fla., for Orgill dealers, Scheer explained that niche programs can help retailers be more successful. These range from paint to “As Seen on TV” to fasteners to dollar bins.

A few pointers:

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  “Frugality is the new norm,” Scheer said. Dollar store shoppers make about 10 trips a year, spending an average of $9.70 per visit. He suggested: “Merchandise this as a unique category. Don’t think of integrating this with the rest of your product mix.”


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  Rental is an opportunity. It’s a $32.8 billion industry, and it’s fragmented — 77% of the business is from independent rental dealers.


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  Harness the power of television — specifically “As Seen on TV.” For every one such product sold through a phone operator standing by, three to 10 are sold in retail stores, said Scheer, pointing to stats from the Electronic Retailing Association.


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  Featuring an item on an endcap can increase sales by up to 25%. Placing an item in a dump bin can increase that item’s sales by up to 427%, according to Orgill stats.