So an agent just told you that your market is editorial, not commercial, and you have no idea what that means. Knowing what the markets are and where you “fit” is key to building a successful career.
The “market” not only refers to the different types of modeling, but also the various cities around the world where models go for work. First you need to understand the different types of modeling, and subsequently the cities that are predominant for each type of work.
“Editorial” or “Fashion”
These models shoot for magazines and high fashion campaigns, and walk the runways during fashion weeks in Paris, London, NYC, and Milano, and sometimes in smaller fashion cities like Tokyo, Sydney, or Sao Paolo. This is a fast-paced market where top models compete for a limited number of opportunities. 
Timing and a great agent are everything. It requires nerves of steel to handle the rejection, the long hours, distant travel that can be lonely, and the physicial requirements. It is a lot to handle on very young shoulders. These models have to be tall, willowy and have the ability to be transformed by designers and editoris into the “look of the season”. Getting editorial and runway work, often for very little money, is the risk fashion models take in aiming for a major career. It is essential that these models appear in the shows of the top designers, which puts them in front of the most powerful magazine editors, in hopes of being noticed and selected for prestigious editorials. Exposure is key and any income takes a back seat until (and if!) a model becomes a “name” and they begin to book campaigns.
“Commercial”
The commercial modeling market has a broader range in both body type and age, and these models can have quite a long career. This market can also be a training ground for new faces to give them the time and opportunity to learn the business and to gain confidence in front of the camera and potential clients. Commercial modeling can be broken down into specific types of modeling such as swimwear, juniors, lifestyle, and catalogue. These markets exist all over the world and these models tend to travel on bookings, and also for extended stays in certain cities such as L.A., Miami, Chicago, Hamburg, Singapore, Tokyo, and Hong Kong. London, Paris, NYC, and Milano also have commercial work and often the fashion editorial models are able to take advantage of this to ear some money between magazine editorials and runway work. Commercial models have the chance to develop longer relationships with agents and can follow the work seasonally around the world. It is a great way to travel, and experience life abroad, while hopefully(!) earning some money. 
Both fashion and commercial models need to build a strong portfolio and there are magazines and testing opportunities for both in their respective markets. Knowing where you “fit” in the modeling industry can help you aim for the right agents and markets. If you are 5’9” to 5’11” - willowy with high cheekbones and under 21 years old, you might be considered more editorial than commercial. If you have some curves and look amazing in a bikini, or if you are young and fresh and like to move more naturally in front of the camera, then you are probably more commercial. If an agent tells you that you are commercial you might find yourself off to Miami or Hamburg or Tokyo, and if you are considered fashion then you will most likely be sent to NYC or Paris depending on your age, to do show castings and to meet editors.
It’s not very common for models to transition from commercial to fashion but in some cases and model can really become known for working for a commercial brand and catch the eye of editors, reversing the trajectory of their career. Fashion models are lucky to have three or four seasons of shows to make their mark before agents are likely to begin transitioning them to a broader more commercial market, increasing their income potential.
Remember, it is all business and whether it is commercial or fashion, it is all work, so respect that, and always be the most professional that you can be and take advantage of the opportunity. People will remember that - you are your “brand”. And don’t forget that for every one model that are tens of thousands of hopefuls who would gladly walk in your shows in a heartbeat!
Supporting images:
Candice Swanepoel, Self Magazine, March 2015 by Sebastian Kim
Liya Kebede, Porter Magazine, Winter 2015, by Chris Colls
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