|E-Commerce Revenue Projections|
|1999||$31.2 billion||2003||$380 billion|
|1999||$20.5 billion||2003||$147 billion|
|1999||$5.4 billion||2003||$115 billion|
The worldwide business-to-consumer e-commerce market will reach $31.2 billion in 1999, up from $11.2 billion in 1998, according to GartnerGroup’s Dataquest. In 2003, Dataquest predicts, revenue will surpass $380 billion.
“The reduced costs of Internet access and the growth of locally based online merchants will drive the birth of large-scale e-tailing throughout the world,” said Blaine Mathieu, senior industry analyst for Dataquest’s e-Commerce Worldwide program. “On a regional basis, the so-called ‘brick-and-mortar’ businesses outside of the United States have had the advantage of watching consumer e-commerce develop over the last two years and are determined not to repeat the mistakes of real-world retailers who were caught off guard by the e-commerce revolution.”
As for the US, Dataquest found it is on pace to have business-to-consumer e-commerce in 1999 totaling $20.5 billion, and by 2003, reaching $147 billion. The European business-to-consumer market is projected to grow from $5.4 billion in 1999 to more than $115 billion in 2003.
“The advent of free Internet accounts is dramatically increasing the number of Internet users in Europe,” Mathieu said. “Relatively high penetration of smart cards, digital wallets, and other secure payment methods is reducing security concerns. Consumer e-commerce in Europe is promoted by the increased development of home-grown solutions, utilizing local currencies, languages, and distribution channels. Customers in other regions of the world no longer have to order from e-tailers based in the United States.”
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