The promise of “virtual goods”–pretend things you buy with real money in cyberspace–has lured entrepreneurs and venture capitalists for years. Same goes for mobile payments–using your iPhone instead of your Amex to buy stuff. But what if you combined the two? You’d have a market that barely exists yet is worth fighting over. At least that’s what Zong and Boku are doing.
How much did you spend on Friday, and where did you spend it?
We’re likely to see flash analysis of today’s shopping binge before the weekend is over. But J.P. Morgan’s Imran Khan has already called a winner for the holiday: Amazon. He says 50 percent of shoppers say they intend to buy something at the e-tailer this season.
Holding back on your holiday shopping? You’re not alone. Retail sales have plummeted in the first half of November, according to a new report from Mastercard–and the Web hasn’t been spared.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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