What will the new iPhone 4 do for your online retail biz?

Like nearly every single other Apple product launch this decade, today’s introduction of the iPhone 4G attracted swarms of people who excitedly lined up outside Apple stores in major cities before storming the aisles and grabbing theirs.

Apple users consistently tend to upgrade to the latest version of X product because it’s faster, sleeker and just more fashionable to have.

The question is, how effective will the new phone be in expanding mobile commerce? Some sites out there claim that it will change ecommerce forever. We still have to check it out to gauge whether it’s functionality will assist online retailers or not, but in the meantime, check out AP’s video of the crowds today.

Were you among them?