Market analysis #Walshglobal

Market Reflection 

Noah Drlik

            In Rome, the word “Market” is a loosely used term that can describe two places that share the same name but not the same things. One form of “market” can describe a place of diversity, while another “market” form brings a place of authentic Italian Culture.  This is the case comparing the “markets,” Esquilino and Testaccio.  Looking at the two markets from both a personal perspective as well as, a business perspective, brings insight into how the two differ.  Esquilino is a marketplace that is split into two separate indoor markets.  The first market is clothes, but clothes that are cheaply made and cheaply sold. This section felt dirty and grimy, causing a constant check of my pockets to make sure my wallet was safe.  The diversity here stands out to most from Roma, this “market’ is not the traditional Roma “market”.  This market brought in all different ethnic selling groups.  The sellers themselves were set up in stands to make a quick dollar on someone that was overpaying for the cheaply made clothes.  The buyers and sellers in the market exchanged business one on one.  It is a cash culture in the markets, due to the cheapness of the clothes.  All sales are final, the shops in the Esquilino market do not give out receipts, therefore no returns.   The accounting in the markets are very poor, without creating a receipt, the seller does not have an exact count of their inventory.  The assets are poorly organized and not safe because they are all out in the open ready for someone to steal.  The owner would have little idea if an item from the shop was stolen because they do not keep a strictly written inventory.  The food Market at Esquilino was chaotic, there is a lot going on in a small warehouse.  The food was very diverse, the market had meat, fish and produce from all over the world. The business side was similar to the clothing section. There was no receipt with purchase, the assets were not protected well.  The assets for those shops are the food they sell and when they leave them open to steal they are not protected. On the other end of the market spectrum was the Testaccio Market.  This market was full of Roma tradition and culture.  Food in Roma is very important to the people and their way of life; therefore, the Testaccio Market was full of shops containing Roma food.  The Market did have shops other than food but those were few and far between.  The Market had a sense of cleanliness and family tradition.  A welcoming feeling is received when entering the Testaccio market, it felt cleaner. The business aspect of the Testaccio Market was better than Esquilino, the shops accepted Credit/Debit cards and they gave receipts with each transaction. The inventory every shop was selling was usually behind glass keeping it both fresh and safe from thieves. The printed receipts also allowed the shops to have an idea of how low they were getting on certain items.  Testaccio was a more modern market than Esquilino. The Testaccio and Esquilino Market share the same name of “market “but they could not be further apart from one another.