Overcoming the Tyranny of 'Richness' and 'Reach'
Traditional shopping limits the number of shops the shopper is able to visit due to time and other cost constraints; the time spent traveling consequently leaves the shopper with less time to evaluate the product. This paper aims to provide an understanding of how the Internet diminishes the tyranny of the trade-off between information richness and the reach of alternative shops inherent in traditional shopping, as well as how it enables businesses to be more competitive. The theory of ‘richness’ and ‘reach’ was formulated by Evans and Wurster (1999) in the book ‘Blown to Bits: How the Economics of Information Transforms Strategy’.
Dr Joshua Chang