Internet shopping 'set to boom'

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Ananova Unregistered User (9/25/01 8:24 am) Reply	Internet shopping 'set to boom' Ananova : Internet shopping 'set to boom' Researchers say internet spending will rise sharply over the next couple of years despite the economic slowdown. The number of people who buy online will grow from 64.1 million to over 100 million by 2003, business statistics firm eMarketer's latest report suggests. And American consumer spending on the Internet is expected to rise from Ł26 million in 2000 to Ł37 million this year. The current economic downturn has slowed the growth of online consumer spending, the survey says, but eMarketing is predicting that despite this, growth will remain robust. The convenience of e-shopping and the increasing availability of established firms on the Internet are the main factors fuelling the continuing growth, the report says. Geoff Ramsey of eMarketing said: "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. "The lines are rapidly blurring between traditional business operations and the Internet, to the benefit of companies with the strongest brand names, largest customer bases and strongest financial positions." It was revealed recently that British e-commerce activity also increased during August, according to Internet research company NetValue. The number of British Internet users has now passed 14 million, NetValue found. Story filed: 13:45 Monday 24th September 2001

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