Niche markets - the new economy of the 21st century
According to the business magazine GDI Impuls, entrepreneurs today should focus on niche products rather than mass-market goods. The trend, which began online, is continuing offline and is spreading to more and more industries.
According to the knowledge magazine GDI Impuls, entrepreneurs today should focus on niche products rather than mass-produced goods. The trend that began online is continuing offline and is affecting more and more industries. In the latest issue of its GDI Impuls magazine, the Gottlieb Duttweiler Institute focuses on "Breed small livestock! - Why you have greater success with niche products than with mass-produced goods". According to an SDA report from Thursday, the 80/20 Pareto principle no longer applies in the exciting markets of the future, but rather the rule of the long tail, according to GDI Impuls. The former meant that 80 percent of market turnover was achieved with 20% of the goods. However, with the change from the long end of the demand curve - the long tail - the small cattle of niche suppliers now produce more profit overall than the big companies' bestsellers.
Individual requirements are crucial
Mass-produced goods are meeting individual demands less and less often, which has led to a change in the strategic foundations of retail. When Wired's editor-in-chief pointed this out in online retail, it was referred to as the Anderson rule. When the turnaround also became apparent in offline retail, the rule of the long tail emerged.
The long-tail effect means that consumers are no longer oriented towards the masses, but are looking for offers that lie dormant deep in the niches where they can be found quickly and easily online. Internationally renowned authors shed light on this trend in the latest issue of GDI Impuls magazine.
Individual requirements are crucial
Mass-produced goods are meeting individual demands less and less often, which has led to a change in the strategic foundations of retail. When Wired's editor-in-chief pointed this out in online retail, it was referred to as the Anderson rule. When the turnaround also became apparent in offline retail, the rule of the long tail emerged.
The long-tail effect means that consumers are no longer oriented towards the masses, but are looking for offers that lie dormant deep in the niches where they can be found quickly and easily online. Internationally renowned authors shed light on this trend in the latest issue of GDI Impuls magazine.
