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www.ecommerce-guide.com/news/news/article.php/165101
By July 20, 1999 E-commerce trade association Shop.org released e-tailing statistics this week that underscore the boom in the world of online shopping: revenues are slated to hit the $36 billion mark, a 145 percent surge by the end of this year. The trade association is comprised of over 200 members in e-comm sectors including virtual retailers, conventional retailers, catalogers, manufacturers and companies providing products and services for online retailers. Shop.org commissioned The Boston Consulting Group to study data from 328 retailers, 158 who took part in the survey. In addition to the rosy forecast for the rest of 1999, BCG concluded that total online revenues throughout all categories in 1998 totaled $14.9 billion, equal to 0.5 percent of all retail sales. Last year's online orders soared 200 percent, with a whopping 300 percent increase in the number of online consumers. "The incredibly positive numbers in terms of calendar '98 results exceeded expectations," said Donna Iucolano, chair of Shop.org's Committee on Internet Shopping Research. "1999 growth looks very strong for those who have been in the business for a while and also for newcomers." The stats may give e-tailers reason to celebrate, but Iucolano cautioned that in this young industry there is still much work to be done. "While it is commonly acknowledged that Internet retailing is coming of age, our research shows that opportunities exist to further grow the category," said Iucolano. Shop.org said the BCG study revealed several winning e-commerce strategies employed by the successful e-tailers in the report. Here are eight suggestions:
"Challenges and opportunities are being dealt with on a daily basis by online-only 'pure-play' retailers, traditional stores, catalogers and manufacturers. The specific findings and lessons reported in this study illustrate that retailers of all kinds and sizes are finding new and innovative ways to market and sell products online to the global consumer," Iucolano said. |
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