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The Death of Malls and the Rise of Platforms

Author

Listed:
  • Hristo Prodanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The title of this publication should be viewed as a metaphor for the changes in exchange and trade we are witnessing at the beginning of the Fourth Industrial Revolution. In order to prove the thesis, I examine the changes in trade during the previous industrial revolutions, as well as the changes during the fourth one. With the help of statistics, data and facts, it is shown what once was and what is happening today. After that, the new characteristics of market exchange are examined. It is now much cheaper, faster and more effective, time and space are no longer such an obstacle, trade is much more delocalized, intermediaries are losing their previous role and are effective only if they go online, transaction costs are decreasing, the choice of all kinds of goods becomes almost limitless, and the relationship with consumers is becoming more intensive. The scale of global movement of goods dominated by knowledge, information, culture and intellectual capital is rapidly increasing. As a result, we observe the death of traditional malls and an exponential growth of digital platforms.

Suggested Citation

  • Hristo Prodanov, 2018. "The Death of Malls and the Rise of Platforms," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 117-130, February.
    • Handle: RePEc:nwe:iisabg:y:2018:i:1:p:117-130
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    More about this item

    Keywords

    exchange; mall; industrial revolution; e-commerce; digital space;
    All these keywords.

    JEL classification:

    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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