eCommerce information

The latest statistics from such eCommerce luminaries as Forrester Research and CommerceNet make exciting reading for businesses about to launch their eCommerce sites:

There are now around 170 million internet users world wide, with that figure set to increase to one billion by the year 2005 (IDC Research). Over 42 million of current users are in Europe alone, and the internet is attracting nearly 11,000 new adult users in Britain annually. As a result of this acceleration in internet use, global internet revenues are doubling every 3 to 4 months.

online shopping is the fastest growing area of internet use this year. It is estimated that 30% of all web sites are used as a means of trading, rather than just as an advertising medium. Of these sites however, only 10% are fully 'commerce enabled', though this figure is set to increase to 30% by the year 2002. Giga tell us that 2002 will also see 20% of all trade revenues being internet based, and Forester tell us that US revenues alone will exceed $300 billion in that year.

These statistics are not hard to believe when you know that 30% of all current internet users already purchase goods online. These purchasers have also very quickly become 'net savvy' in that they seek bargains world wide, rather than just from local outlets. It goes without saying that with a customer base as large as the internet, the existing take up of the new medium for shopping, and the reduced costs associated with trading online, the internet is definitely the approach for new businesses or those hoping to expand their activities.