Report: BTC E-Commerce to Top $90.1B in 2003Business-to-consumer e-commerce spending will top $90.1 billion this year and surpass $133 billion in 2005, according to a report issued yesterday from eMarketer.
While trends such as experience online, the narrowing digital divide and the shakeout among online retailers have been major factors influencing e-commerce since 2001, "a fourth factor now comes into play: the increasing availability and adoption of broadband," said Ross Rubin, senior analyst, eMarketer.
Other findings from the report, "North America E-Commerce: B2C & B2B," include:
· The average amount spent online among U.S. Internet users 14 and older is $717 in 2003, and is expected to reach $928 in 2005.
· Nearly 60 percent of U.S. Internet users have at least four years of experience online; 27 percent have six or more years experience.
· 58.3 percent of Internet users 14 and older will purchase goods and services online in 2003, totaling 81.2 million users. That will rise to 61.8 percent in 2005, or 94.9 million consumers.
· 24 percent of U.S. adults conducted business with the government online in 2002.
· Canadian BTC sales hit $3.7 billion (Canadian) in 2002, a 59 percent increase over the previous year.
· More than 80 percent of U.S. companies have experimented with online procurement, though most channel less than 10 percent of their total procurement online.