Market

In the Roman world, the central market primarily served the local peasantry. Market stall holders were primarily local primary producers who sold small surpluses from their individual farming activities and also artisans who sold leather-goods, metal-ware and pottery. Consumers were made up of several different groups; farmers who purchased minor farm equipment and a few luxuries for their homes and urban dwellers who purchased basic necessities. Major producers such as the great estates were sufficiently attractive for merchants to call directly at their farm-gates, obviating the producers' need to attend local markets. The very wealthy landowners managed their own distribution, which may have involved exporting. The nature of export markets in antiquity is well documented in ancient sources and archaeological case studies.

At Pompeii multiple markets served the population of approximately 12,000. Produce markets were located in the vicinity of the Forum, while livestock markets were situated on the city's perimeter, near the amphitheatre. A long narrow building at the north-west corner of the Forum was some type of market, possibly a cereal market. On the opposite corner stood the macellum, thought to have been a meat and fish market. Market stall-holders paid a market tax for the right to trade on market days. Some archaeological evidence suggests that markets and street vendors were controlled by local government. A graffito on the outside of a large shop documents a seven-day cycle of markets; "Saturn’s day at Pompeii and Nuceria, Sun’s day at Atella and Nola, Moon’s day at Cumae ... etc." The presence of an official commercial calendar suggests something of the market's importance to community life and trade.  Markets were also important centres of social life.

Medieval market scene by Joachim Beuckelaer, c. 1560

In early Western Europe, markets developed close to monasteries, castles or royal residences. Priories and aristocratic manorial households created considerable demand for goods and services - both luxuries and necessities and also afforded some protection to merchants and traders. These centres of trade attracted sellers which would stimulate the growth of the town. The Domesday Book of 1086 lists 50 markets in England, however, many historians believe this figure underestimates the actual number of markets in operation at the time. In England, some 2,000 new markets were established between 1200 and 1349.  A study on the purchasing habits of the monks and other individuals in medieval England, suggests that consumers of the period were relatively discerning. Purchase decisions were based on purchase criteria such as consumers' perceptions of the range, quality, and price of goods. This informed decisions about where to make their purchases.

From the 12th century, English monarchs awarded a charter to local Lords to create markets and fairs for a town or village. A charter, protected the town's trading privileges in return for an annual fee. Once a chartered market was granted for specific market days, a nearby rival market could not open on the same days. Fairs, which were usually held annually, and almost always associated with a religious festival, traded in high value goods, while regular weekly or bi-weekly markets primarily traded in fresh produce and necessities.

Although a fair's primary purpose was trade, it typically included some elements of entertainment, such as dance, music or tournaments. As the number of markets increased, market towns situated themselves sufficiently far apart so as to avoid competition, but close enough to permit local producers a round trip within one day (about 10 Km). Some British open-air markets have been operating continuously since the 12th century.

Supervision of weights, measures, food quality and prices was a key consideration for medieval society. Regulations for such matters appeared initially at the local level, but was codified in 15th century England in what became known as the Statute of Winchester. This document outlines the Assizes for 16 different trades, most of which were associated with markets - miller, baker, fisher, brewer, inn-keeper, tallow-chandler, weaver, cordwainer etc. For each trade, regulations covered such issues as fraud, prices, quality, weights and measures and so on. The assize was a formal codification of prior informal codes which had been practised for many years. The courts of assize were granted the power to enforce these regulations. The process of standardizing quality, prices and measures assisted markets to gain the confidence of buyers and made them more attractive to the public.