Online retail sales are expected to reach $152 billion by 2002. And, while only a few of today’s online retailers may survive the ongoing industry shakeout, a recent report found that those that do survive will keep a strong hold on overall consumer spending. Business-to-consumer sales over the Internet will grow from an estimated $25 billion in 1999 to $152 billion in 2002 and to $233 billion by 2004, according to a report released last week by Internet research firm Giga Information Group Inc. Still, consumer online sales will only make about 3 percent of total consumer spending by 2004, the report said. The report estimates that, by 2002, more than 60 percent of the projected $150 billion spent on the Internet will be made through “clicks-and-mortar” merchants, while only 26 percent will be made via Internet-only retailers.
Was this article valuable?
Here are more articles you may enjoy.
Owner of Assisted Living Home Where 10 Died in Fire Denied Access to Insurance Funds 
Hot Sauce Company Sues Manufacturer Over Exploding Bottles 
Progressive Q4 Income Up 25%; CFO Sauerland to Retire in July 
Florida Board Drafting Rules That Could Stem Bogus Engineering Reports in Claims From This Issue
