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Internet Commerce 2014: The Giant AwakensLONDON, March 31, 2015 /PRNewswire/ -- Executive Summary eCommerce represents a real opportunity for the consumer telecommunications sector, but will require a fundamental rethinking of market strategy by the telecommunication participants. Introduction Two hundred and fifty billion dollars ($ billion) worth of retail commerce flowed over the Internet in the US economy in 2013. By the end of this year, that number is likely to be in excess of $ billion. This is a staggering amount of commerce; and the projected rate of growth is in excess of % CAGR over the next five years. Clearly a sea change in consumer buying habits is occurring. Yet, why is this growth happening now? Data suggest that we have reached an essential critical mass of broadband connectivity in the North American market; one which makes Internet commerce easy and accessible. Consumers, who are becoming ever more comfortable with life online, are discovering that making purchases in the virtual marketplace is easy and increasingly comprehensive. This confluence of broadband accessibility and comfort with computer-assisted shopping is not only driving up retail sales online, but is also influencing conventional retail operations in interesting ways. Retailers are increasingly dependent on Web advertising and Web-enabled shopping tools to drive business. Many consumers now go to the mall armed with a smartphone and applications as varied as bar code readers and electronic coupons. Although online security may be increasingly of concern to consumers, data show no indication that security is currently preventing Internet commerce. However, the data suggest that consumers are somewhat more concerned this year than they were last year. Since online retail operations fundamentally depend on credit and trust, this aspect of eCommerce will likely increase in importance. Download the full report: https://www.reportbuyer.com/product/2418558/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/internet-commerce-2014-the-giant-awakens-300058898.html SOURCE ReportBuyer |