Markets online and otherwise allow small traders to be easily found by prospective customers, and with this grow, employ people and build economies. Hi Since the beginning of time markets have played THE critical intermediary role between entrepreneurs and prospective customers.
Read full version here on square holes.com/blog Way back in ancient Babylonia markets allowed trading of everything from salt to spears. These simple ancient markets ever evolved to town centres attracting skilled artisans and clusters of similar traders. As population centres have evolved, so have markets. The market centre of small towns, grew into main streets. The centre of larger cities exploded into shopping strips, early departments stores and wider business precincts. Populations grew surrounding the main streets, and the suburbs grew outwards, further and further. With this came more and more market places clustering local stores—from butcher to baker. Neighbourhoods grew both economically and socially. Communities became strong and people felt safe. The local corner Milk Bar of Deli was a trusted place for grocery and other needs. Ah, the simple times of chiko rolls and dragsters. When kids could walk the neighbourhood, before predators were discovered. In 1930 the first supermarket emerged in New York City. The store, King Kullen, operated under the slogan “Pile it high. Sell it low.” The concept swept the world, and to Australia. By 1973 supermarkets had a 50% share of the Australian grocery market (Woolworths 20% and Coles 14%). Then shopping centres emerged providing a market of clustered traders for those who need just about anything. They grew, and grew, to offer a safe place for people to shop and find whatever they wish to buy at their convenience. The local corner shops gradually started to struggled to attract the local community as they once did. Most have since died. As the Internet started, people had another distraction from life and local markets. With exponential growth in Internet users, came traders popping up to sell on the World Wide Web. Online shopping very slowly became more normal, and even the default when buying products such as air travel. Traders were on somewhat of a gold rush, yet most had forgotten that the markets of old succeeded from clusters of traders. Making it easier for prospective customers looking for what they sell to find them. With such insight in mind, along came digital market places Amazon in 1994 (books to auto parts, market capitalisation $543B USD), eBay in 1995 (market capitalisation of $37B USD selling liquor to toys), Alibaba in 1999 (market capitalisation of $464B USD selling clothing to home and garden products) and Etsy (in 2005 ‘a creative marketplace where 29 million buyers around the world shop for unique items’ and with a market capitalisation of $2B USD). In Australia, online market places are now en vogue pioneered by the likes of Seek and more recently Freelancer.com. Cyber security fears have gradually dissipated as such markets have built trust, or at least the convenience balances the potential distrust. And, banks and others have set up safeguards. Google and others are also enabling the new way to shop as to ‘Google it’ and find the best product according to reviews of users at the best price. Now, more than ever before market clusters are critical. Six in ten Australian businesses do not employ any staff (61%—88% less than 5 employees), and according to Australian Bureau of Statistics business entry and exit statistics such small businesses have the lowest survival rate (ABS 8165.0—Counts of Australian Businesses, including Entries and Exits, Jun 2012 to Jun 2016). Online markets allow local small traders to cluster in order to more easily be found by the world of 7.4Billion prospective customers, and with this the potential survival and growth rate is significantly enhanced. However, just like the times of ancient Babylonia, there is still a place for local physical markets, and arguably they offer a pleasant juxtaposition with the explosion of online choice anxiety inducing globalisation. Regional produce markets are popping up across Australia and beyond, and initiatives such as Folk on the Road in South Australia enable small traders to cluster for prospective customers, allowing them to test and potentially grow their businesses with less risk than otherwise. Markets online and otherwise allow small traders to be easily found by prospective customers, and with this grow, employ people and build economies. Or, they may just sell enough to survive. Read full version here on square holes.com/blog Please have a nice weekend, Jason I am chuffed to have been invited to be involved in the Adelaide Chapter of the global small grants initiative 'AWESOME' - more info here, If you are in or near Adelaide apply and/or head to the 'awesome' FREE event on the 30th of November (via below link)! Check out State Theatre Company of South Australia's 'Vale' 17 Nov - 3 December - 'A PENTHOUSE SUITE. NEW YEAR’S EVE. TIME TO MEET THE PARENTS. WHAT COULD POSSIBLY GO WRONG?' |