E-commerce sales soar

E-commerce sales are booming, according to the latest figures from research outfit BizRate.com.

It found that year-on-year online retail sales for the first three months in 2002 jumped 41% to $11.60 billion compared to $8.22 billion during the same period a year ago.

The trend-bucking improvement has led BizRate.com to revise upwards it prediction for total sales for 2002.

In 2001, total online retail sales were just shy of $36 billion, but this is now thought to increase by 44 per cent this year to more than $51 billion.

The number of orders are increasing and people are also spending more on their e-purchases.

Chuck Davis, President & CEO of BizRate.com, is barely able to control his enthusiasm at this apparent turnaround.

"There is a still a perception that online industries are faltering, but this is actually the reverse with online retail sales," he said.

"The trend shows that consumers love buying online and are shifting their purchases from offline to online - and at ever-increasing levels - even though their overall spending might not be growing."

With news like this it's enough to make me want to give it all up, blag some VC cash, and set up a dotcom... ®