The Modern Day Bazaar.

Mass is over. Consumers today want unique, original, just-for-them items—products that make them feel unique, special, and as if they are contributing to an independent individual’s livelihood, not a corporation. Today you can find these hard-to-find items in various versions of the 21^st Century bazaar, provided by online aggregators of independent providers.

• Rakuten’s CEO, Hiroshi Mikitani, was interviewed for HBR’s November 2013 issue saying, “Rakuten tries to create a personalized, bazaarlike shopping experience…. I wanted Rakuten to be more like a bazaar, where the owners of many small shops would curate the merchandise and interact personally with customers. I believe that is the kind of experience many people prefer—even if they’re shopping online.”
• Jenna Wortham noted in her The New York Times article, “A Bazaar Where You Least Expect It,” (March 9, 2014) suggests that Instagram is a “modern-day bazaar” where she can find “one-of-a-kind treasures.”
• Etsy attracts numerous buyers desiring something special and unique, created just for them, with them.

Consumer Forecast: Help me feel special.

Sources:

Mikitani, Hiroshi. “Rakuten’s CEO on Humanizing E-Commerce,” Harvard Business Review, November, 2013.