Our world has never been more connected, thanks to the internet, and this is especially true in commerce. Via digital communication, the consumer can deal directly with multiple traders, from small to mammoth, of products and services without the assistance of an intermediary. The new network economy introduces opportunities for both cooperation and competition. What are the four main trends in today’s markets?
Consider the statistics. While 67 percent of American cellphone owners check their smartphones for messages and calls even without the “ping”, and 49 percent of these same owners assert that it would be “very hard to give up”, why don’t they use smartphones to make payments?