It is one of the largest squares in Florence and the core of the city since Roman times. In the center of the square is the Column of Abundance, the heart of the city.

Starting in the Middle Ages, this square became the center of the city's commerce. It is surrounded by grand palaces and prestigious shops.

In the square are some of the most famous shops and venues in Florence, such as "Giubbe Rosse", a place where literary and intellectual people have always met.