Physical Market
A physical market is a traditional, in-person marketplace where goods and services are exchanged directly between buyers and sellers at a specific physical location, such as a street market, farmers' market, or shopping mall. It involves tangible transactions, face-to-face interactions, and physical infrastructure like stalls, shops, or booths. This contrasts with digital or online markets, emphasizing real-world commerce and local economic activity.
Developers should understand physical markets when building systems that integrate with or support brick-and-mortar retail, such as point-of-sale (POS) systems, inventory management tools, or location-based services. This knowledge is crucial for projects involving IoT devices in stores, supply chain logistics for physical goods, or hybrid business models that combine online and offline operations, ensuring solutions are grounded in real-world commercial practices.