To: Danny who wrote (23949 ) 9/23/1999 From: uptick Read Replies (2) | Respond to of 27307
Holiday Internet Buying Seen Tripling Last Year's LOS ANGELES (Reuters) - Online retailers will have plenty to cheer about this holiday season, with buying over the Internet expected to nearly triple last year's level, research firm Dataquest Inc. said Wednesday. Total spending for the holiday season from October through December was seen reaching $12.2 billion, compared with last year's $4.5 billion, Dataquest said in a new report. ``While 1998 was the year that online shopping first rose to prominence in the United States, the 1999 holiday season is shaping up to be the launching point for an explosion of global e-commerce,' Dataquest senior industry analyst Blaine Mathieu said. Those three months are estimated to account for 35 to 40 percent of e-commerce for the year, Mathieu said. U.S. companies were expected to take the lion's share of online holiday sales, with 70 percent of the total, while Europe was seen raking in 15.5 percent of revenues and Asia/Pacific taking 7 percent, Dataquest said. ``Increased growth in PCs online and free Internet accounts will greatly increase the total available market of holiday shoppers, particularly outside the United States,' Mathieu said. Sales would also be boosted by consumer-friendly technology that lets shoppers find what they want more easily, and by new Internet marketing campaigns that could better target individual desires, he said. Although traffic to online stores was expected to soar above last year's level, Mathieu said consumers would likely not be subject to the kind of logistical breakdowns suffered by overloaded Web sites last year. ``This year, significant hiring and large expenditures on new infrastructure will better help companies meet consumer demand,' he said, adding that continued investment would help set the stage for even bigger sales in 2000. FYI, on 1/12/99, Yhoo beat estimate and announced a 2:1 split. Previously, a split was announced on 7/8/98. The below chart shows how YHOO has performed with splits and earnings.bigcharts.com ymb=YHOO&time=9&uf=7168