Foreword

THE COLORFUL, BUSTLING BAZAARS of Europe, South America, and Asia have earned a special place in my heart. Fresh fruit, warm bread, exotic flowers, antiques, books, toys and trinkets: To wander the street markets of Barcelona or Santiago is to feel alive. And who could resist browsing the tiny stalls and massive stores of electronics, anime, and manga in Tokyo's Akihabara? It's shopping you'll never forget.

While bazaar derives from the Persian baha-char meaning “the place of prices,” the finance is lost in the romance. We travel great distances to see these sights, and then buy needless things, simply to be part of the action. The exchange of goods and services is elevated into an experience that's entertaining, educational, and inspiring.

These vibrant markets offer stark contrast to the suburban shopping mall, an odious place I avoid like the plague. On a rare visit, as I physically drag my cadaver from rack to rack, store to store, anchor to anchor, I am painfully aware of the search costs of modern meatspace, which is why I do most of my shopping online.

Of course, a similar spectrum exists in ecommerce, with many more bad stores than good. The difference is in the distance. On the Web, every shop is just a click away. Location isn't what it used to be. And, since low cost often leads to low profit, smart sellers have learned that insanely great user experiences, especially in search and discovery, are the new keys to the kingdom of sustainable competitive advantage. ...

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