Even the most seemingly revolutionary products can fail without an engaged audience. According to Harvard Business Review, American families repeatedly buy the same 150 items for their household needs. Getting shoppers to consider a new product is difficult. Even well-known names like Apple, Nike and Lululemon have trouble introducing new products into the marketplace.

Although the word niche often suggests a small and insignificant audience, targeting a niche early on in a business’s lifecycle is increasingly a go-to strategy. For these niche companies to succeed, they must garner the audience’s attention through their authenticity and relentless focus on the target they’re pursuing. But from here, growing the business further by thinking through the potential scale of niche products can sometimes be a challenge as niche brands move into mass markets.

This report looks at:

  • What’s happening with niche audiences and why does it matter for the larger consumer ecosystem?
  • What do these success and failures mean for brands, investors and real estate developers?
  • What should brands, investors and real estate developers do to harness the powers of niche audiences?

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