Increased Demand
One reason why the market is open today is due to the increased demand for goods and services. People continue to shop and consume even outside regular business hours, leading to the need for markets to remain open to cater to these demands.
Globalization
With the globalization of markets, businesses operate across different time zones and cater to customers worldwide. To stay competitive and serve customers effectively, many markets now operate 24/7 to ensure they are accessible to a global customer base.
Consumer Convenience
Consumers today expect convenient access to products and services at their convenience. Keeping the market open allows consumers to shop when it best fits their schedule, whether it is early morning or late at night.
Case Study: Amazon
Amazon is a prime example of a company that operates its market 24/7. The e-commerce giant recognized the importance of staying open round the clock to cater to customers around the world. This approach has helped Amazon become one of the largest retailers globally.
Statistics
- According to a survey, 67% of consumers expect businesses to be available 24/7.
- Research shows that online shopping peaks late at night.
- Many brick-and-mortar stores have extended their hours to accommodate customer needs.
