“First, the book became a bestseller (which is ironic for a book about the power of niches) (...)”
In this 2006 management classic, Chris Anderson thailand telegram explains why in the future we will sell less and sell more. Or, in other words, how to make money by offering a wider variety of products through the Internet.
The Long Tail
The famous picture above shows that the products on the right side of the picture are becoming more and more attractive to producers.
What causes this?
1. Through the democratization of the means of production
On the Internet, production tools (such as WordPress for creating websites) are available for free or at very low prices. This makes it easy for more and more people to make. There has also been a shift to collaborative production, such as in the case of the encyclopedia Wikipedia. Contributing to such projects can improve your reputation, which is increasingly important and easier to find and view online.
2.
Online stores do not need to hold inventory and can therefore offer more variants of the same product without the costs of distribution. Instead of stores offering a large selection of best-selling products, customers can decide which variants to buy.
3. Integrating Supply and Demand
The Internet has made it increasingly easier to discover niche products. For example, radio used to be the only medium for discovering new music, but now Spotify and torrent sites make it easier to listen to and share new music.
This book is a classic for its clear explanation of why and how niche markets are becoming increasingly important now and in the future. It provides structure to some of the ideas I already had about the impact of the rise of the Internet. This is an inspiring book and a must read for anyone who wants or is interested in doing business online.