6:45Sleep and the Homemade Perfume Business
From My First Million · Published Jul 5, 2020 · Watch on YouTube
TL;DR
Sleep is a larger trend than meditation, with more people actively searching for and paying for sleep solutions. DIY perfume is a growing community with few companies serving it, offering a business opportunity similar to Warby Parker or Dollar Shave Club. A kid-friendly perfume-making kit could be a viable product. The video also notes DIY soap and juicing as related trends.
Key insights
- Searches for sleep products significantly exceed those for meditation, despite meditation being widely discussed.
- Sleep is a universal need, whereas meditation requires teaching a new habit, making sleep a larger commercial opportunity.
- The speaker pays for a Nature Sounds Alexa app, combining sounds (e.g., "Winter Railroad") and has a sleep timer set for 20 minutes.
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