Giant multinational corporations were very much revered, once upon a time. They provided jobs for communities, produced quality goods and services for the world, and the public perceived them as good entities. That was until globalization happened — big companies made much more than they did before, and they started looking to developing countries for cheap labor to drive production costs down. They conquered and grew, at the expense of the rest of the world.
Whole towns and communities lost their jobs due to outsourcing. Reports of human and environmental exploitation by big companies have not stopped streaming in. We learn that some of our most trusted manufacturers are responsible for devastatingly poor working conditions, human trafficking, pollution, paying off policymakers, and hiding truths from the public. The public are afraid of their hidden agenda and develops a distrust.
Localized Marketplaces Grow By Solving Local Problems
Albert Einstein once said that we can’t solve problems by using the same kind of thinking we used when we created them.
Where global institutions have failed to address the world’s problems — income inequality and poverty, among others — it is hoped that local communities and institutions might provide a solution. The tune has now changed to “support local businesses,” a growing movement towards sustainability and the use of technology to create a positive impact on communities.
That’s how Arcadier and tech startups all over the world are born. We want to enable others to solve problems by improving efficiency and productivity, and the best part is that Arcadier’s technology can be applied to any and all ideas anywhere for maximum impact.
Small and medium-sized local businesses often lag behind because they don’t have the online exposure that large firms have. Now, they are able to flourish because they are provided with a cost effective platform to establish their presence online. This is just one problem that hyperlocal online marketplaces are helping to solve.
No Inefficient Bureaucracies
Dramatic changes are needed, not just in our consumption paradigm, but also in the way we work. Problems present in our society are never going to be solved by bureaucracy. We require visionary leaders who want to drive change and take risks. We need to build business models that are more streamlined, decentralized, and much more efficient and effective at solving problems.
Locally focused online marketplaces use technology and the internet to create efficiency whenever possible. Unlike many employees in bureaucratic companies, teams working in startups have to constantly innovate to solve problems. They wear many hats, they take initiative, and they never settle for mediocrity.
All those conditions make for a passionate, dynamic and bold, yet flexible group of enterprising thinkers who are increasingly open to co-working and other interesting new ideas. Additionally, they encourage local entrepreneurship, creativity, and high quality standards as they give customers greater transparency in pricing and offering.
Success Comes From Understanding Local Culture
Arcadier offers high quality localization into the various languages, but we understand that language is just one of the many aspects of culture. There are other things, like cultural values and needs, that centralized global companies find difficult to understand and adapt to. They often end up doing more harm than good in the long run as they impose their culture and way of life.
Successfully catering to local businesses and the community requires one to operate and make decisions with local context. Only by understanding and appreciating what people in different cultures need and how they work, can a business make a meaningful difference. Local and hyperlocal online marketplaces thrive because they form a symbiotic relationship with the community, growing with the community and developing mutual appreciation, trust, and protection.
Hyperlocal marketplace operators are also more in tune with changing customer behavior. As a community is more exposed to new marketplace concepts, the people would be more likely to demand a service, and local marketplaces can adapt or shift quickly to meet the demand. Such was the extraordinary change brought about by pioneers like Uber, and around the world, we’ve seen the emergence of similar local marketplaces that are thriving.
Globalization Will No Longer Be The Same
Globalization will continue to play a huge part in our economy, but its current definition — which emphasizes more on trade and global integration — will soon change. The world has been made aware that we cannot continue to achieve infinite growth on a planet with finite resources. Thus, the focus shifts to localization and the revival of communities and local ecosystems.
Local and hyperlocal online marketplaces will serve as a community hub, strengthening ties and giving others a platform to contribute to the local economic multiplier. It makes perfect sense to see localized online marketplaces gaining in popularity. They serve an immediate purpose for the community, and it’s only a matter of time before people out there realize that the local economy doesn’t belong only to MNCs — it belongs to all of us.
Arcadier is the world’s fastest growing marketplace creator, and is the recognized global leader of multi-vendor marketplace technology. Powering more than 3,000 online marketplaces in 96 countries and 550 cities, Arcadier offers marketplace solutions for entrepreneurs and businesses of varying sizes, needs, and geographical locations. Arcadier supports many sharing economy ideas; from retail to services and rental of space.