CHAPTER 1Foundations of the Shopper Economy
SHOPPER CURRENCY
Today there is a new currency that extends beyond the dollar. It is made possible by digital technology, and it can be minted by anyone who has a cellphone. This new currency is behavior.
In the groundbreaking book The Attention Economy, a Nobel Prize winner, Herbert Simon, is quoted as saying:
What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention.
We hardly need a Nobel Prize winner to tell us that we have a poverty of attention—most of our daily lives are a testament to this. But from an economic standpoint, attention is scarce, and scarcity creates value. Attention is so valuable that ...
Get The Shopper Economy: The New Way to Achieve Marketplace Success by Turning Behavior into Currency now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
