Thanks Jim. ICGE @ 36 3/8.
I know that you are very bullish on the B2B sector and ICGE is an excellent medium. News released today on a B2B business outlook survey:
tscn.com
<RESTON, Va., Jun 5, 2000 (BUSINESS WIRE) --
Usage Expected to Almost Double in One Year, With Majority of
Transactions to be Internet-Based by 2004
Buyers, suppliers and distributors in the $1 trillion industrial supply industry are likely to almost double their use of the Internet to conduct commerce transactions within the next 12 months, according to a new survey.
The findings show that today, 34 percent of the trading partners in this huge global market are developing and incorporating e-commerce strategies to fulfill their bottom-line business objectives. That number will increase to 67 percent by next year, and 83 percent in five years.
The survey, conducted via e-mail May 9-15 by Harris Interactive, a leading market research firm, and IndustrialAmerica, an online business-to-business industrial supply trading site for buyers, suppliers and distributors, interviewed nearly 1,000 buyers, sellers and distributors of materials such as electrical supplies, pipes, valves, fittings, power transmission products and metal-cutting products.
Currently, the dominant method for conducting transactions in this industrial supplies market has been through the telephone or fax machine, according to Chuck Sheridan, president and chief executive officer of IndustrialAmerica.
Today, only one-third of buyers (36 percent), sellers (23 percent) and distributors (31 percent) optimize the Internet to help them conduct transactions worldwide. Within the next five years, usage rates will increase dramatically: Distributors intend to use the Internet 90 percent of the time to facilitate the distribution of these goods; and buyers and sellers expect their adoption to escalate to 80 percent.
Respondents stated the main reasons for using the Internet are convenience, speed and the ability to make price/product comparisons online.
"The true value of the Internet in business today is providing a common ground for buyers, sellers and distributors to conduct transactions quickly and profitably," said Sheridan. "These online exchanges are particularly valuable in markets where e-commerce is still in its infancy, such as the industrial supplies industry."
"The benefits of online exchanges will be threefold," added Sheridan. "Buyers will have tremendous cost savings both in terms of operational and production costs; sellers will have unprecedented control and ability to sell their brand to more customers while dramatically lowering operating costs; and distributors will have the ability to cultivate sales and sell more to customers without increasing sales and marketing costs while reducing overall operating expenses."
About the Survey
Nine hundred and eighty-one individuals in the manufacturing industry responsible for purchasing, selling or distributing industrial supplies participated in the online survey. Participants were asked a series of questions directed to find out their position on using the Internet for conducting and developing business strategies in the next year and in the next five years. The sampling error is +/- 3.2 percent.
About IndustrialAmerica
Backed by Internet and distribution luminaries Internet Capital Group (NASDAQ:ICGE) and MSC Industrial Direct (NYSE:MSM), IndustrialAmerica combines leading Internet technologies with unmatched expertise to bring facilitated, online trading to the global Industrial Supplies market. The online business-to-business trading site provides buyers, sellers and distributors of products such as electrical components, power transmission products and metalworking tools and supplies to realize substantial cost savings by more effectively linking their global supply chains and optimizing their trading relationships. The company's Web-based offering will be available in Fall 2000. IndustrialAmerica is based in Northern Virginia's Dulles High-Tech Corridor and can be found on the Web at www.industrialamerica.com.
About Harris Interactive
Harris Interactive, a leading global market research firm, uses Internet-based and traditional methodologies to provide its clients with information about the views, experiences, behaviors and attitudes of people worldwide. Known for its Harris Poll, Harris Interactive has over 40 years experience in providing its clients with market research and polling services including custom, multi-client and service bureau research, as well as customer relationship management services. Through its US and Global Network offices, Harris Interactive conducts research in more than 80 different countries, in more than 30 different languages. Harris Interactive uses its proprietary technology to survey its database of more than 6.5 million online panelists. For more information about Harris Interactive, please visit our Web site at harrisinteractive.com> |
