Thirty years ago, the number of products totaled hundreds of thousands of positions worldwide. Local assortment in your neighboorhood did not exceed 5000-7000 pcs for the entire food and non-food items, including books.
With the internet, 99% of the assortment today is global, carrying approximately 5 million positions that are available to anyone.
More than 128 million books have been published. Do you feel the difference between choosing among 5000 positions when you are at the store and 5 million positions a few clicks away?
Thirty years ago, you could put up a tent in a crowded place, and become rich selling hot dogs. Today hundreds of thousands of product managers and millions of developers are creating tens of millions of prototypes and millions of products that they introduce to the market.
That crowded intersection does not have a tent now, but 500 thousand tents. Every contact with a potential customer today belongs to someone, and you need to buy it. You have to pay to put up a tent, and you have to pay to receive customer traffic.
Are you prepared?