Growing use of broadband links has in part contriubuted to a boom in online consumer buying, according to a study. An overwhelming majority of businesses have at least experimented with online procurement, it adds.
eMarketer, a market-research firm that released a report titled North America E-Commerce: B2C & B2B, combines its own analysis with data from that of other researchers.
“Some trends such as experience online, the narrowing digital divide, and the shakeout among online retailers have been major factors influencing E-commerce since 2001,” senior analyst Ross Rubin of eMarketer was quoted as saying in Information Week.
According to Rubin, a fourth factor has also come into play. “The increasing availability and adoption of broadband. Add in refinement in marketing and transaction techniques, and it`s little wonder that consumers are doing more of their shopping and buying online,” he said.
US consumers will spend more than $133 billion online in 2005, up nearly 50 percent from a projected $90.1 billion in 2003, the study projected.
Following are some of the other findings of the study:
The average annual amount spent online among US Internet users ages 14 and up (excluding travel purchases) should rise to $928 in 2005, up 30 percent from this year`s $717.
According to the UCLA Centre for Communication Policy, nearly 60 percent of US Internet users have at least four years of experience online; 27 percent have six or more years experience.
Almost 62 percent of Web surfers ages 14 and up (which amounts to about 94.9 million people) will purchase goods and services online in 2005, up from nearly 60 percent, or 81.2 million users, this year.
According to survey by the University of Maryland and Rockbridge Associates, one-quarter of US adults conducted business with the government online in 2002.