A market is a place where two parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical like a retail outlet, where people meet face-to-face, or virtual like an online market, where there is no direct physical contact between buyers and sellers.

The term market also takes on other forms. For instance, it may refer to the place where securities are traded—the securities market. Alternatively, the term may also be used to describe a collection of people who wish to buy a specific product or service such as the Brooklyn housing market or as broad as the global diamond market.

As experts in what consumers want and why, we’re best suited to accurately predict the future of consumer behaviour and what that means for companies and brands. With this in mind, we are well placed to analyse how the COVID-19 pandemic will impact markets around the world, and how changes will play out over the coming decade.

The Market Revolution (1793–1909) in the United States was a drastic change in the manual-labor system originating in the South (and soon moving to the North) and later spreading to the entire world. Traditional commerce was made obsolete by improvements in transportation, communication, and industry. With the growth of large-scale domestic manufacturing, trade within the United States increased, and dependence on foreign imports declined. The dramatic changes in labor and production at this time included a great increase in wage labor. The agricultural explosion in the South and West and the textile boom in the North strengthened the economy in complementary ways

Market evolution refers to changes in primary demand for a product class and changes in technology. For more on defining your market and target customers, check out How to Do Market Research, Market Research Resources for Entrepreneurs, and How to Define Your Target Market.