What is the long tail?

From Wikipedia, the free encyclopedia: “The phrase The Long Tail was first coined by Chris Anderson in an October 2004 Wired magazine article to describe the niche strategy of businesses that sell a large number of unique items, each in relatively small quantities.

The concept at the root of Anderson’s coinage — has been studied by statisticians since at least 1946. The distribution and inventory costs of these businesses allow them to realize significant profit out of selling small volumes of hard-to-find items to many customers, instead of only selling large volumes of a reduced number of popular items. The group that purchases a large number of “non-hit” items is the demographic called the Long Tail.”

To hear more from Chris Anderson: