Online buying will quadruple in three years, says new eMarketer report
New York-based researchers eMarketer projects that U.S. b2c e-commerce revenues, which totaled $38.3 billion in 2000, will quadruple to $156 billion by 2005.
EMarketer’s new eCommerce:B2C Report also says the online buying population continues to grow, reaching 79.3 million this year. In addition, it reports that consumers today are opting to buy from trusted names in the offline world. EMarketer’s report aggregates and analyzes data from 100 research organizations.
“It’s clear that the Internet has been accepted and is evolving as a key distribution channel -- not a separate business entity -- for traditional merchants,” said Geoff Ramsey, CEO and co-Founder of eMarketer. “E-Commerce has become a strategic imperative for all retail merchants since consumers like to shop seamlessly across channels, including the Internet.”
The eCommerce: B2C Report also concludes:
The number of US Internet users -- 116.5 million in 2000 – will increase to 184.1 million by 2005.
Americans buying online will more than double, from 64.1 million in 2000 to 130 million by 2005.
eMarketer places the online customer conversion ratio at 2.9% for 2000, an improvement from 1.9% of 1999. For 2001, the ratio will jump to 3.5% as e-retailers attract and win new customers with more targeted, customized marketing campaigns.
By year-end 2001, 37% of all teens (14 to 17) online will have purchased something on the web, up from 30% in 2000.
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