Sales over the Internet in Europe doubled during the past year – and are set to continue rocketing, a new study shows.
The pan-European Electronic Commerce Research Report also shows that four per cent all corporate sales in Europe this year were conducted over the Internet - compared to 2 per cent in.
The survey forecasts that total European Internet sales will reach $288 billion this year, surging to $2 trillion by 2002.
Based on a telephone survey conducted by KPMG Consulting, the report included responses from 357 European companies with annual sales of at least $300 million.
Internet sales were strongest in Scandinavian countries, with 9 per cent of sales made over the Internet, and the UK, where online sales accounted for 6 per cent of all sales, KPMG said.
The percentage of respondents indicating none of their sales were made online dropped from 55 per cent last year to 37 per cent in 1999. The number of companies predicting they will not be using the Internet by 2002 in some form to make sales shrinks dramatically to 7 per cent, KPMG said.
Surveyed companies in Scandinavia believe the Internet will account for a quarter of all sales in 2002, while German companies polled predict online sales of only 12 per cent by 2002.