A trend that shows no sign of cessation is the movement of the global economy to electronic commerce, or E-commerce. The business challenge of the 21st Century will be for businesses to learn to use information technology, and E-commerce to manage their operations, as well as learning how to compete and survive in the emerging digital economy.
According to NUA Internet Surveys (http://www.nua.ie)a survey conducted between October, 1999, and January, 2000 of more than 28,000 users in 34 countries showed these results.
* An estimated 120 million Internet users, or 40 percent of the total number online, have already made an online purchase.
* More than 50 percent of all online transactions were made in the US.
* US users made an average of 7 purchases in the three months before the survey, spending an average of $828.
* The worldwide average individual online spending in the same period was less than $500.
* Only half of Internet users outside North America pay for E-Commerce purchases by credit card, in comparison with 75 percent of online shoppers in the US and Canada.
* Worldwide, direct bank drafts, bank transfers and cash on delivery are the other most favored payment methods.
* Over half of all Internet users have researched goods and services online before making offline purchases and almost a quarter of online shoppers have made impulse purchases.
* E-Commerce online habits vary from region to region. Online banking is popular in Europe, South Africa and Brazil while Latin Americans, Turks and Egyptians particularly enjoy downloading music files.
* 93 percent of Internet shoppers around the world said they were "somewhat satisfied" or "extremely satisfied" with their online shopping experience.
* 60 percent said convenience was the main reason they chose to shop online.
To relate to this growth and these trends, a critical and a philosophical understanding of the implications ...