Commerce has a life cycle just like human life does. Our world is full of patterns that oft repeat, why should commerce be any different? We started with bazaars and villages, then shops and cities, then department stores and metropolises, then malls/big box stores and suburbs, and finally (I predict) a return to the bazaar and village lifestyle with a technology twist.
I see the traditional retail model ending. Recently, we saw enclosed malls die off in 2006. Next, it was big box stores (sans food retailers) in 2013. With the explosion of home based businesses in 2016, the future is very clear. The bazaars of old where vendors congregated to meet consumers will make a comeback with a spin: No longer will either party have to go anywhere because the bazaars will be rise from suburban neighborhoods via home based businesses. Much like Amazon is a software driven business, so too will these new bazaars be driven by modern software. The difference is that instead of one software platform to serve them all (as in Amazon’s case), these new bazaars will be driven by a hodgepodge of various mobile apps and complimentary platforms, mimicking the diverse makeup of the new industry they will serve. Continue reading “The Life Cycle of Commerce”