500 Percent E-Commerce Growth Predicted
Page 1 of 1
Online retail sales are expected to grow by upwards of 500 percent over the next two years, according to more than half of those responding to a recent survey.
Nineteen percent of the survey respondents predicted Internet sales, estimated to be $8 billion last year, would top $100 billion by 2001. Over half (53 percent) thought it would reach $50 billion to $100 billion and 21 percent thought sales would reach $25 billion to $50 billion.
Only 7 percent thought that Internet sales would remain lower than $25 billion over the two-year period.
Douglas Graham, a partner with KPMG's Financial Services Consulting practice, said he feels that "we are in a transitionary period right now, one in which there is heightened interest in adopting fair policy."
More than three-fourths (76 percent) of the survey respondents said, for the purposes of taxation, remote electronic transactions should be treated the same as catalogue sales.
And most (56 percent) thought a sensible legal, fiscal and regulatory framework that minimized government regulation could be adopted for the Internet.