Worldwide electronic commerce expenditures this holiday season will surpass $12.2 billion up from $4.5 billion during the 1998 holiday season, according to market research outfit Dataquest Inc.
The U.S. will dominate online holiday shopping with 70% of revenue. Europe is projected to account for 15.5% of revenue, while Asia/Pacific is forecast to have 7% of consumer electronic commerce this holiday season.
“While 1998 was the year that online shopping first rose to prominence in the United States, the 1999 holiday season is shaping up to be the launching point for an explosion of global consumer e-commerce,” said Blaine Mathieu, senior industry analyst for Dataquest’s e-Commerce worldwide program, in a statement.
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