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E-Economy Doubles in 1999

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SAN FRANCISCO, CA/USA (7 June 2000)–Last year internet sales jumped 62% to US$524 billion, according to a University of Texas-Austin study, which examined 3,000 US companies that generate some or all of their revenues from internet transactions. The fastest-growing category was e-commerce, up last year 72% to US$171.4 billion. The report attributes this growth to […]

SAN FRANCISCO, CA/USA (7 June 2000)–Last year internet sales jumped 62% to US$524 billion, according to a University of Texas-Austin study, which examined 3,000 US companies that generate some or all of their revenues from internet transactions.
The fastest-growing category was e-commerce, up last year 72% to US$171.4 billion. The report attributes this growth to the fact that traditional brick-and-mortar retailers have embraced internet sales. Also, many companies are buying their own goods online.
Researchers estimated that more than 50,000 companies generate some or all of their revenues from Internet-related activities.
In April, Forrester Research projected that e-commerce could generate US$6.9 trillion in revenues by 2003 as businesses are forced by competition to become more efficient and as consumers move beyond buying items with low profit potential such as CDs and books into big-ticket categories. Likewise, e-sales are expected to exceed US$1 trillion by early next year. (JW)

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