This book was bought by my dad and he just read a chapter and left it there. It is one of the best seller so I decided to take a look. After that, it keeps me reading for another 6 hours. It is more like a research book about why certain online companies like iTunes and Amazon are selling so many different types of items than conventional brick and mortar stores and yet, those products that are not hits or best sellers usually accounts for a large chuck of their revenue.
Infinite shelf spaces, democratized P2P distribution are the answers. Online business offers more products with almost zero cost. Our parents era is a generation that live with hits. This is because they can’t really choose what they want to listen from the radio. All of them listen to the same songs from the radio and eventually the most played songs will becomes hits and everyone will know about it. In a world where we live in now, we could find anything in the internet, pay a small price and got it downloaded immediately. With zero stocking cost, we are now exposed to more options, songs that aren’t available from Tower Records or books that Borders do not carry due to shelf space restrictions and that is what Long Tail Economics is all about.
This is more like a book to be read by economist. Where the 80/20 rule doesn’t apply anymore, supply demand relationship is changing dramatically and etc. Good book to read to provide you better insight if you are interested in starting something online.
