The Economist has a special survey on Consumer Power:”Crowned at last” The claim that ?the customer is king? has always rung hollow. But now the digital marketplace has made it come true.
The ability to get information about whatever you want, whenever you want, has given shoppers unprecedented strength. In markets with highly transparent prices, they are kings. The implications for business are enormous: threatening for some, welcome for others. For instance, the huge increase in choice makes certain brands more valuable, not less. And as old business divisions crumble, a strong brand in one sector can provide the credibility to enter another.
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