RealTime IT News

Report Forecasts 784% Increase in Online Shopping Revenues

Retail revenues from online shopping worldwide will increase by 784% over the next four years, from $4.5 billion by year-end 1998, to $35.3 billion by 2002, according to a ChannelSeven.com report on eMarketer's upcoming eCommerce: Retail Shopping Report.

In 1997, consumer online shopping revenues totaled an estimated $1.8 billion worldwide. eMarketer projects consumer online shopping revenues will be (in billions worldwide) :

  • 1998--$4.5
  • 1999--$7.7
  • 2000--$14.8
  • 2001--$22
  • 2002--$35.3

"While this year's online shopping sales will top $4.5 billion, it pales in comparison to the business-to-business side of e-commerce which will reach $15.9 billion by year's end," said eMarketer's statsmaster Geoffrey Ramsey. "It will also be dwarfed by consumer-oriented catalogs which sold over $51 billion last year, 10 times the amount sold online to consumers."

ChannelSeven.com said the Retail Shopping Report states that online shopping will provide thousands of retailers with expanded revenue opportunities and new ways of reaching new customers and enhancing existing customer relationships.

The full report will be released November 9, and will be available for sale at the eMarketer Web site for $295.