A market research company has claimed that online consumer sales will be worth a staggering $3.2 billion by the year 2001.
The report, from Datamonitor, says that this year alone, online consumer sales will account for $96 million of business, with Germany taking the lion?s share at $73 million, the UK $9 million and France $4 million.
Improved quantity and variety of shops available are the driving force behind the growth, according to Datamonitor. And better security will fuel consumers? willingness to buy across the Internet.
By 2001 as many as seven per cent of consumers across western Europe will buy online, with the travel business representing the largest chunk at 35 per cent of the total $3.2 billion market. Insurance will be sold online in many European countries by next year.
According to Datamonitor, by then 33 million European homes will have PC and modem access and network computers, video game consoles and screen phones will help the growth.
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