Is Big Tech Destroying Retail Markets?
When online markets for consumer goods and services first emerged, they were hailed for empowering shoppers, encouraging competition, and reducing transaction costs. But much as changed since then, and if current trends continue, online markets will become markets in name only.
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WASHINGTON, DC – Information technology is not just transforming markets; it is also making them ubiquitous, particularly for household consumers. From pretty much anywhere in the world, one can now search out goods and services, compare prices from multiple sellers, and give detailed shipping and delivery instructions, all with a mouse click or a screen tap.