Global B2C revenues double over last year
A new report released by eMarketer shows a 98% increase in B2C e-commerce revenues between 1999 and 2000, and projects even greater increases over the next few years
Global consumers have almost doubled their online spending in the last year according to a new report published by Internet statistics provider eMarketer. The report, eMarketer’s eCommerce:B2C Report, which aggregates data from more than 100 research organisations, reveals that consumers spent $59.7 billion online in last year, compared with just $30.1 billion in 1999, a massive increase of 98%.
The comprehensive 335-page report covers the 28 leading economies worldwide and contains 567 charts that demonstrate the market is growing at an exponential rate, undeterred by deflated technology stock prices and the failure of many Internet start-ups. eMarketer projects that global B2C e-commerce revenues will more than quadruple again by 2003. It predicts that revenues will pass the $100 billion mark by the end of this year, rising to $167 billion in 2002 and $250 billion in 2003.
“Despite all the negative press online shipping has received lately, we’re seeing that consumers continue to purchase over the Internet,” said Geoff Ramsey, eMarketer CEO. “Those companies who deliver on the e-consumer need for convenience and customer service support will survive the current economic slide.”
“Companies around the globe and across all industries are leveraging the Internet to achieve business efficiencies and deliver new levels of customer care,” he added.
EMarketer, which is located at www.emarketer.com, is a recognised authority on online business. The company aggregates, filters, organises and analyses statistics from various research companies, consultancies and business news services around the globe to compile its comprehensive reports.