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The Ecommerce Hypergrowth
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Hypergrowth.That's the term now being used to describe what e-commerce is currently
experiencing. Companies of all sorts and sizes - large or small, established or
start-ups are hopping on to the e-commerce bandwagon to give the much-needed
boost to their businesses and become the next Amazon in the Internet world. And
why not? The open nature of the Internet gives the flexibility to a small firm
to conduct business in direct competition to a brick and mortar giant.
It is a question of who grabs the opportunity first. Various reports cite
explosive growth claims and projections on ecommerce trends. An industry report by the
Peterborough, NH-based ActivMedia Research reveals that that the top 100
e-commerce Web sites are reporting annual growth rates of 1,000 percent and are
pulling in revenues of as much as $100 million. And as more and more people
move online in the future, these figures are expected to be even more
staggering. And, as per the International Data Corporation, the number of
people buying online is expected to increase from 18 million in December 1997
to 128 million in 2002, representing more that USD400 billion worth of
transactions. In U.S. alone, the revenue generated by Internet businesses in
1998 was larger than all previous estimates – a boggling $ 300 billion.
Ecommerce revenue figures are certainly staggering, but to put ecommerce in practice one needs to know
functionality of ecommerce. Read more on Ecommerce Functionality
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