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A long and somewhat rambling post about the long tail as it pertains to independent bands.
The Internet has revolutionized retail. It’s also changed the way people work and play. To be sure, the Internet has its drawbacks, but that’s the risk of revolution. The good news is that we’ve only begun to reap the benefits of a world untethered from traditional selling, marketing, buying, and consuming.
The Long Tail
In a book I highly recommend called The Long Tail: Why the Future of Business is Selling Less of More, Chris Anderson, editor of Wired magazine, wrote about a statistical model called the long tail. The head consists of best-selling products, also called “hits,” and the long tail is “non-hits,” products that sell in smaller quantities. Products in the head may sell millions per year; those in the long tail may sell only one or two a year.
According to Anderson, the culture and the economy are “increasingly shifting away from a focus on a relatively small number of ‘hits’ (mainstream products and markets) at the head of the demand curve and toward a huge number of niches in the tail.”
For example, a large portion of online retailer Amazon.com’s book sales consists of books not found in traditional book stores. People still buy the hits, but demand for non-hits has grown, thanks to the Internet.
(Read the article that started it all and Anderson’s blog.)
Update II: I like this from commenter and
“They engage in businesses that most of us don’t want to engage in, like Laundromats and dry cleaners. They have a dogged determination to succeed,” said Keenan Grenell, associate provost for diversity at Marquette University.
I love cake. In fact, I love cake so much, I look at people who hate cake as if they’re Martians.