The Boston Consulting Group (BCG) and Shop.org, the electronic retailers' industry group, estimated that revenue for the holiday season grew 230 per cent, with the average amount spent rising to $55. The Interpublic Group of Companies, an advertising group, estimated that online Christmas saleswould reach $5bn, four times higher than in 1997.
While this is still a tiny percentage of all shopping, it marks something of a milestone, according to firms thatmonitor online shopping.
"This holiday season marks the year that online retailing moved from an interesting consumer experiment to an accepted retail alternative," said BCG's vice-president, David Pecaut. "The 24 hour-a-day access to Internet stores, no crowds and the convenience of shipping gifts directly to family and friends have struck a chord with a rapidly growing segment of wired consumers."Reuse content