Long tail theory from "summary" of The Longer Long Tail by Chris Anderson
The Long Tail is a concept that explains the shift from mainstream markets to niches. In traditional markets, only a small number of hits dominate the majority of sales. However, in the digital world, there is an abundance of niches that collectively make up a significant portion of the market. This shift is due to the democratization of production and distribution brought about by the internet. The Long Tail theory is based on the idea that the collective value of niche products can rival that of mainstream hits. This is because consumers now have access to a wider variety of products that cater to their specific interests. While mainstream hits still hold value, the sheer volume of niche products available online means that they can collectively generate substantial revenue. The Long Tail is made up of two parts: the head and the tail. The head represents mainstream hits that have mass appeal and generate the most sales. The tail, on the other hand, consists ...
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