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Importance of Electronic Commerce

The importance of EC is illustrated by its impact on industry, government and society. The explosive growth of the internet and related technologies represents a tremendous business opportunity with regard to traditional and new products and services. There is now a sizable user base on the internet and the world-wide-web. 

The Numbers

  • nearly all fortune 500 companies have websites
  • 75 -100 m people on-line in 40+ countries via 40,000+ networks
  • over 100m people on-line by 2000
  • >50% of  Americans access the net
  • 100 m documetns; 800m by 2000
  • 1/2 - 1 b retail sales in 1996
  • 4-10 b retail sales in 2000
  • business-to-business sales of 50-150 b by 2000

The Users

The typical user tends to be well educated, professional and upscale; demographics that are very attractive to businesses. Seventy three percent of users in a recent survey had used the Internet for shopping

References

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