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Dear folks,
I'm setting up an eCommerce store combined with paid advertising. How would you go about finding an audience/market that:
- is huge
- is passionate
- has a lot of money to spend (ideally too much money to spend)
- preferably does impulse buying
Are there any methods to do this? Can I find statistics somewhere for example?
I have googled a lot and found some statistics on several websites, but most of them contradicted each other or didn't give sufficient information to find such an audience.
Also, would you rather choose a market where people spend less money but you know the market well and thus are more likely to come up with better products and or ads? Or would you choose a market that spends much more but you don't know the audience well? I guess you can always get to know the market by studying them?
I'm asking because, correct me if I'm wrong, with this business model it is recommended to choose an audience first and then find a product for that audience. So I have to find a profitable audience first.
I can, for example, choose the people interested in office ergonomics market. I know some stuff about it already and I'm the customer myself, because I use ergonomic chars and stuff myself.
Or I could choose to focus on something like middle aged women. I think they spend more money, but I don't know the audience, yet.
Any advice would be greatly appreciated!
I'm setting up an eCommerce store combined with paid advertising. How would you go about finding an audience/market that:
- is huge
- is passionate
- has a lot of money to spend (ideally too much money to spend)
- preferably does impulse buying
Are there any methods to do this? Can I find statistics somewhere for example?
I have googled a lot and found some statistics on several websites, but most of them contradicted each other or didn't give sufficient information to find such an audience.
Also, would you rather choose a market where people spend less money but you know the market well and thus are more likely to come up with better products and or ads? Or would you choose a market that spends much more but you don't know the audience well? I guess you can always get to know the market by studying them?
I'm asking because, correct me if I'm wrong, with this business model it is recommended to choose an audience first and then find a product for that audience. So I have to find a profitable audience first.
I can, for example, choose the people interested in office ergonomics market. I know some stuff about it already and I'm the customer myself, because I use ergonomic chars and stuff myself.
Or I could choose to focus on something like middle aged women. I think they spend more money, but I don't know the audience, yet.
Any advice would be greatly appreciated!
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