I was doing some writing for Siobhan recently, and one of the topics I was covering was WordPress theme shops, and the economy that’s built up around them.
As a former Economics student, I got thinking about how the Premium Theme marketplace has built up from those early days of Revolution Themes over the last couple of years; how the market is structured and what that market structure means for consumers.
That thought process has lead me to this post, where I’m going to run you through the current state of the marketplace, what impact that has and what that means for consumers.
Before we start, a little bit of Economics background: we’ll be looking at things like barriers to entry, which are just any elements of the market which make entry by new businesses difficult, economies of scale which are benefits enjoyed by larger businesses and the aforementioned market structures which is, well, how the market is structured.
Those structures might be things like a monopoly, oligopoly or perfect competition. Take note of these fancy words, we’ll be using them again later!Carry on reading →