Popularity of markets is often very tricky because it can lead to worried and anxious investors. Once a business becomes a cool or a common place for startups, many stakeholders and investment enterprises look for a new place to invest their money.
For instance, the startup Uber, which is a ridesharing service that once was and still is a big success, opened the doors for more startups and more investors who dared to go wild. This kind of startup is very risky especially when the market is crowded because there is little chance of survival.
While there are many creative ventures into tough markets, here are some you should avoid.
1. Junk Food or Traditional Foodservice
If you are starting a company in the food industry, try to target the millennial market because it is the biggest demographic market. In the United States, Millennials hold the greater part of the spending power in the United States, and are in position to absolutely dominate the market in the coming few years. However, Millennials are known for not eating junk food whether it is fast food, or sugary beverages. They would rather go to healthy food and one can find many gourmets among them.
Many new startups are making and serving food but not in the conventional way. Therefore, if you want to succeed in starting a restaurant, try to design it with a different kind of foodservice.
In addition to the food market, Millennials do not buy houses because they consider them as an expensive purchase and because they are a very mobile population (they deeply like their freedom). Therefore, if you want to go into the housing market, you need to focus on Millennials and on mobility.
3. SEO Software or Services
Because there are search engines, people will still conduct searches, and there will be businesses who will capitalize on that search. If you want to invest on SEOs, you need to ask yourself what kind of SEO is going to predominate the future.
4. Tablet-focused Apps
The popularity of tablets is fading. According to IDC Worldwide Quarterly Tablet Tracker, the sales of tablets have started to slow, and IDC expects that the decline will be of a long-term. , Hubert Joly , CEO of Best Buy, has confessed that the sales of tablets. Moreover, Apple is witnessing the fall of its 28% share in the tablet market with the general trend.
If you are searching for a lucrative market, do not go to tablets.