From...
Study sees growth in online shopping
May 25, 1998 Web posted at: 11:50
AM EDT
by Stewart Deck
(IDG)
-- A new market study said consumers will spend $26 billion online in
2002, up from the $4.5 million expected to be spent this year. The study,
by New York-based market researcher EMarketer, also said that business-to-business
electronic commerce will increase from this year's $16 billion to $268
billion in 2002.
"The [Internet] provides an ideal platform for the emergence of business-to-business
trading hubs," said an EMarketer spokesman, Geoffrey Ramsey, in a statement.
"These hubs ... control the largest share of revenues and profits transacted
over the net [and] individual buyers and sellers will be left to fight
for increasingly slimmer margins unless they develop entirely new strategies
for differentiating themselves vs. their competition."
Other findings included the following:
- Book sales online will grow from $500 million this year to $1.3
billion in 2002.
- A total of 10% of electronic-commerce businesses account for more
than 90% of sales over the Web.
- Today 35% of banks offer online banking, and by 2002, 56% will.
- Online sales of airline tickets will increase from 1% of total ticket
sales today to 5% by 2002.