What is Economies of Scope

They are minor modifications made to the product to reach broader market niches.

A situation in which average costs of production of for different goods or services are lower when the goods or services are produced together rather than separately

The situation where due to the better-quality data (large population datasets and high dimensional datasets) collected, platforms can enter new markets and offer new and better-personalised products/services at lower costs as compared to their competitors. Platforms’ complex ecosystems have multiple sides and various categories of users. With the collection of high-quality user data from one side of the market (retail marketplace), dominant platforms can enter and expand into new or adjacent markets (fulfilment and logistics) and offer new and better-personalised products/services.

Cost savings associated to the joint provision of several outputs, with respect to their separate production by means of specialized firms.