$40 billion by 2002
Electronic commerce, or “ecommerce” as it is now known, promises to provoke changes in business and consumer practices that could rival those of the industrial revolution. According to a forecast published by the META Group, global ecommerce volume will exceed $40 billion by 2002.
In its report, the U.S. information technology company notes that numerous new technologies will simplify ecommerce for both consumers and business. Ecommerce itself is already a distinct retail industry sector, much like the downtown store or the suburban discount warehouse. As more and more consumers see the convenience and speed of ecommerce, sales volumes continue to rise.
The report notes that common, cross-industry business issues are driving the ecommerce market, including customer self-service, supply chain/inventory management, procurement, and online selling. And, like any other new way of marketing and selling goods and services, the success of any ecommerce operation will depend on the good old fundamentals.