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Global E-Commerce, Facts And Statistics For 2005
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Published: August 17, 2007
Over 40 years ago, Marshall McLuhan wrote in his book Understanding Media the following observation: “Today, after more than a century of electric technology, we have extended our central nervous system itself in a global embrace, abolishing both space and time as far as our planet is concerned.” How shocked this man would be to see the level of connectivity that abounds today, and the facts about e-commerce as a result of the World Wide Web.
Over the last several decades, global e-commerce has become an integral part of business communications, marketing and sales transactions, creating the global village McLuhan envisioned.
Any business that has made itself accessible online, according to Wikipedia's facts about e-commerce, is a business practicing global e-commerce. Individuals from all over the world are exposed to the products and services provided by online businesses; an incomparable alternative to billboard or phonebook marketing. Global e-commerce strategies drastically expand the horizons for a company's B2B and business-to-consumer relations.
According to 2005 global e-commerce statistics, 13.9% of the world's population used the internet. Facts about e-commerce from the World Wide Web Consortium have been since updated, claiming 17.8% of the world having used the internet in June 2007. That is an increase of over 350 million users in two years. But what kind of global e-commerce do these technologically savvy individuals use the internet?
According to VeriSign, many consumers buy seasonal items online. The 2005 global e-commerce statistics from this payment service show a 25% increase in candy purchase in the two weeks before Valentines Day compared to the same period the previous year. These 2005 global e-commerce statistics also show diamond sales increasing an astonishing 130% from the previous year during the weeks preceding this romantic holiday. It looks like the ladies cannot complain about the growing prevalence of global e-commerce!
While the evolution of postmodern financial practices is undeniably fast-moving, 2005 global e-commerce statistics from The Nilson Report still show only 11% percent of all payments in the US to be electronic. Paper transactions are still the most common, covering 50% of US payments. This is not to deny, though, the staggering $3.5 trillion earned through global e-commerce in North America in 2004 according to Forrester Research. Even less developed countries in Latin America's contributed to $81.8 billion in global e-commerce revenue.
The rise of global e-commerce, a very democratic development in international economics, is responsible for a large part of the playing field being leveled out. A small business no longer needs to pay high rent for a location where shoppers will be likely to stumble across their storefront. Now goods can be marketed to consumers all over the world by cheap and easy website development and an electronic payment service. If only Marshall McLuhan could see this ever-expanding global nervous system he passed on from in 1980. Surely future generations will say the same of the world today.
Sources:
“Global Marketing.” Wikipedia. 20 July 2007. 12 August 2007. http://en.wikipedia.org/wiki/Global_Marketing.
“Internet Growth Statistics.” Internet World Stats. 2000 - 2007, Miniwatts Marketing Group. 12 August 2007. http://www.internetworldstats.com/emarketing.htm.< br />
"Marshall McLuhan Foresees the Global Village." Living Internet. 1996-2007. 12 August 2007. http://www.livinginternet.com/i/ii_mcluhan.htm.
“Statistics for Electronic Transactions.” ePaynews.com: Statistics.1998 - 2005 Trintech Group. 12 August 2007. http://www.epaynews.com/statistics/transactions.ht ml.
Herbert Marshall McLuhan. 12 August 2007. http://www.marshallmcluhan.com/.
“VeriSign Announces Valentine's Day-Related Online Shopping Activity.” VeriSign: News & Events. 16 February 2005. 12 August 2007. http://www.verisign.com/verisign-inc/news-and-even ts/news-archive/us-news-2005/page_028504.html.
Related Articles
Any business that has made itself accessible online, according to Wikipedia's facts about e-commerce, is a business practicing global e-commerce. Individuals from all over the world are exposed to the products and services provided by online businesses; an incomparable alternative to billboard or phonebook marketing. Global e-commerce strategies drastically expand the horizons for a company's B2B and business-to-consumer relations.
According to 2005 global e-commerce statistics, 13.9% of the world's population used the internet. Facts about e-commerce from the World Wide Web Consortium have been since updated, claiming 17.8% of the world having used the internet in June 2007. That is an increase of over 350 million users in two years. But what kind of global e-commerce do these technologically savvy individuals use the internet?
According to VeriSign, many consumers buy seasonal items online. The 2005 global e-commerce statistics from this payment service show a 25% increase in candy purchase in the two weeks before Valentines Day compared to the same period the previous year. These 2005 global e-commerce statistics also show diamond sales increasing an astonishing 130% from the previous year during the weeks preceding this romantic holiday. It looks like the ladies cannot complain about the growing prevalence of global e-commerce!
While the evolution of postmodern financial practices is undeniably fast-moving, 2005 global e-commerce statistics from The Nilson Report still show only 11% percent of all payments in the US to be electronic. Paper transactions are still the most common, covering 50% of US payments. This is not to deny, though, the staggering $3.5 trillion earned through global e-commerce in North America in 2004 according to Forrester Research. Even less developed countries in Latin America's contributed to $81.8 billion in global e-commerce revenue.
The rise of global e-commerce, a very democratic development in international economics, is responsible for a large part of the playing field being leveled out. A small business no longer needs to pay high rent for a location where shoppers will be likely to stumble across their storefront. Now goods can be marketed to consumers all over the world by cheap and easy website development and an electronic payment service. If only Marshall McLuhan could see this ever-expanding global nervous system he passed on from in 1980. Surely future generations will say the same of the world today.
Sources:
“Global Marketing.” Wikipedia. 20 July 2007. 12 August 2007. http://en.wikipedia.org/wiki/Global_Marketing.
“Internet Growth Statistics.” Internet World Stats. 2000 - 2007, Miniwatts Marketing Group. 12 August 2007. http://www.internetworldstats.com/emarketing.htm.< br />
"Marshall McLuhan Foresees the Global Village." Living Internet. 1996-2007. 12 August 2007. http://www.livinginternet.com/i/ii_mcluhan.htm.
“Statistics for Electronic Transactions.” ePaynews.com: Statistics.1998 - 2005 Trintech Group. 12 August 2007. http://www.epaynews.com/statistics/transactions.ht ml.
Herbert Marshall McLuhan. 12 August 2007. http://www.marshallmcluhan.com/.
“VeriSign Announces Valentine's Day-Related Online Shopping Activity.” VeriSign: News & Events. 16 February 2005. 12 August 2007. http://www.verisign.com/verisign-inc/news-and-even ts/news-archive/us-news-2005/page_028504.html.
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