Overseas E-Commerce to Equal Half of Global Spending By 2003
Page 1 of 1
According to researchers International Data Corp., almost 60 percent of the worldwide online audience comes from outside the U.S. and that population will generate nearly 46 percent of global e-com spending by 2003, up from 1998 levels of just 26 percent.
The IDC report finds that e-commerce is especially strong in Western Europe. E-commerce spending in the area is predicted to grow at a compound annual growth rate of 138 percent from $5.6 billion in 1998 to a whopping $430 billion by 2003.
"In Western Europe, the Internet is quickly moving from a technophile phenomenon to a tool for the entire population," said Anna Giraldo, an IDC senior analyst.
"The increased interest in the Internet along with the adoption of the Euro, a single common currency across the region, will help drive e-commerce sales," Giraldo said.
"Companies that sell on the Web will face technical, logistical, and organizational challenges as they try to develop a global Internet strategy that incorporates multilingual ecommerce sites," Giraldo said.
"It might sound contradictory, but a successful global strategy will involve thinking locally in each of the individual markets. Internet users, especially in Western Europe, will be more trusting of national Web sites than international ones."