The Internet:A consumer prespective

March 6, 2010 nightvole
Tags: choice, competition, consumer, corprate, Democracy, internet, ISTB01, privacy

The inerternet is a marvellous technology which has latterly changed all aspects of our lives. Compared to how we lived 20 years ago, I would say that we are freer and this is in no small part due to the internet and the liberalizing/democratizing effect that it has had on society, and in particular the consumer. The internet offers a wide spectrum of new factors that act to democratize the consumer; by offering information on many products and services it gives the consumer options to as what they want to do. The key word is choice, where before companies monopolized the services offered to consumers, they can no longer do that as the internet provides unlimited competitor between firms to get the consumers. Competition is the catalyst for choice, choice means that the consumer is free or democratized, as such  the internet acts as the ultimate equalizer which makes the marketplace both fare and democratic.

In regards to the idea that the internet offers too much choice and is actually limiting consumer freedom, I don’t buy that for a minute. Anyone with knowledge of economics knows that competitor among firms is good for the consumer, as it ensures superior product/service while allowing for many alternatives to suit every individual set of need. I can see where frustrated consumer is coming from, but the reality is that their frustration is simply a manifestation of being unable to adjust to this new found freedom. They do not feel comfortable with the new power afforded to them as they are used to the market being dictated by firms and having no say in whets offered. In my opinion this is a temporary phenomenon and as consumers adjust to the new reality they will realize the benefits of it. Given the choice no-one would go back to the old system as they realize that although they thought they were “happy” it was simply ignorance on their part and they could no longer be content to go back to that knowing the alternatives offered.

Unfortunately, this democratization of the internet has at least been partially responsible for privacy concerns that are becoming real issues in today’s society. The internet allows for marketing and demographic targeting on previously unimagined scale, as such this facilitates the means for companies to gather vast information on consumers. In fact these so called demographic dates highly invasive and the consumer should be worried about the increasing invasion of their privacy by large corporate firms that have invested a large stake into the internet. As the consumer can do relatively little about this matter, it is up to national government to enact laws and regulation that will limit and curtail this activity. Unfortunately beaurocracys are usually slow at making decisions and are often severely behind on matters such as this as they simply cannot keep up with the rapid changing technology and marketplace

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