E-commerce: a Global Perspective

In 1994 the creation of a graphical interface for use with the Internet lead to worldwide 1995 Internet related sales of $500,000,000, almost exclusively in the US. Estimates for 2002 sales are in excess of $100,000,000,000 with only 35% being in the US. The majority of current and estimated sales are business to business up from 70 to 75% today to 85 to 90% by 2002. By country, technology, regulations, laws, cultures social issues, economics, vendors, competitors and consumers all have an impact on the use of the Internet. Security, privacy, censorship and taxation also play a role. E-commerce has become important for countries that already possess the environments and capabilities to utilize the Internet. A restructuring of all channels of distribution is occurring world-wide, benefiting not just industrialized nations, but developing ones as well, providing the basis of a new economic development tool for their citizens and their firms.