Rapid technology advancement reduces time of information flow leading to a closer world. It allow easier and wider access to goods and services. Thus, increasing trade. The distance between buyer and seller also increase and, yet, transaction time have been greatly reduced.
Traders and service providers have more options. Depending on their adaptability, creativity, resources and risk appetite, their perceived market size change. However, it is nevertheless bigger than before.
As number of opportunities increase, and resources remain short, mindset changes. Benchmark also
Increases. Barrier to new business rises. So is expectations. Demand increases. Prices and cost of production follow.
From the perspective of a merchant, the market of their priority will be any market that offer the greatest opportunity of success, the least risk and competition or the biggest profit potential.
Thus, a market of 80 million people is more attractive than one of 4 million. A market with highest disposable income stands better opportunity to have more option for products and services.
From the opposite angle, a small market will not attract merchant leaving consumers less choices and more expensive options. Worse if the small market does not have strong purchasing power. Thus, not only the size of the market matter, the quality of the consumers is also a key factor.
Traders and service providers have more options. Depending on their adaptability, creativity, resources and risk appetite, their perceived market size change. However, it is nevertheless bigger than before.
As number of opportunities increase, and resources remain short, mindset changes. Benchmark also
Increases. Barrier to new business rises. So is expectations. Demand increases. Prices and cost of production follow.
From the perspective of a merchant, the market of their priority will be any market that offer the greatest opportunity of success, the least risk and competition or the biggest profit potential.
Thus, a market of 80 million people is more attractive than one of 4 million. A market with highest disposable income stands better opportunity to have more option for products and services.
From the opposite angle, a small market will not attract merchant leaving consumers less choices and more expensive options. Worse if the small market does not have strong purchasing power. Thus, not only the size of the market matter, the quality of the consumers is also a key factor.
