I am looking to start an e-commerce essential oil site, and am looking for a niche market to cater our brand towards. I need an in-depth market research analysis on the consumer essential oil industry, in particular e-commerce in North America. The goal of this research is to determine which market segment to gear the company towards, and give a better idea of what products to sell.
Market Analysis- size, trend, demographics, etc., forecast
Who are my current competitors? What is their market share? How successful are they?
What market do current competitors target? Do they focus on a specific customer type, on serving the mass market, or on a particular niche?
Are competing businesses growing or scaling back their operations?
What are their strengths? Price, service, convenience, extensive inventory are all areas where you may be vulnerable.
What are their weaknesses? Weaknesses are opportunities you should plan to take advantage of.
What are their basic objectives?
Do they seek to gain market share?
Do they attempt to capture premium clients? See your industry through their eyes. What are they trying to achieve?
What marketing strategies do they use? Look at their advertising, public relations, etc.
Where is there an opportunity to make an entry.
Please show citations on all data and information .