The Internet economy has ushered in a new era of consumers who are more informed and empowered than their predecessors. Thanks to the web, they can effortlessly explore alternatives and make purchases from any location, all without spending a dime. These modern consumers are adept at securing the best deals for themselves and expect such deals to be ongoing, or they are ready to switch to other providers. This shift has fundamentally and permanently transferred the power from businesses to consumers, altering the buyer-seller dynamic significantly.
The rapid embrace of the internet by consumers marks a significant shift in behavior, propelled by various developments. Retail has evolved from small-scale operations to larger discounters, boosting consumer confidence in technology for shopping. With modern life demanding more of people's time, there's a growing acceptance of outsourcing daily activities. The widespread use of credit cards simplifies online transactions, while the increased familiarity with personal computers across business, home, and educational settings enhances digital literacy. Mass media, including television, has gained trust as a reliable source of information. This shift has seen innovators and early adopters fully integrate the internet into their lives, with a significant portion of the early majority following suit. This trend is gradually aligning internet user profiles with broader market segments. Today's internet-empowered consumers have clear expectations: they value their time highly, demand immediate delivery, seek substantial content over marketing, and insist on fair treatment, ready to look elsewhere if disappointed. This epitomizes consumer empowerment, with control being a key desire. Laurie Windham and Ken Orton describe the new consumer as a complex mix of emotions, preferences, anxieties, and loyalties, characterized by empowerment. They highlight a shift in perception, with the internet becoming the starting point for many tasks, serving as a central organizing principle in daily life. This evolution underscores the empowered state of modern consumers, who navigate their choices with a mix of awe and caution, curiosity and busyness, seeking uniqueness while valuing anonymity.
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