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Technology Stocks : SHRP: The Sharper Image, Profitable making $ on Internet! -- Ignore unavailable to you. Want to Upgrade?

To: WaveSeeker who wrote (110)	12/28/1998 8:32:00 PM
From: TWICK	Read Replies (1) \| Respond to of 353

More good news for the e-tailers: After the close - Survey puts Internet holiday shopping at $5 bln Monday December 28, 5:49 pm Eastern Time Survey puts Internet holiday shopping at $5 bln WESTPORT, Conn., Dec 28 (Reuters) - Holiday shopping on the Internet nearly quadrupled this year to over $5 billion, a new survey showed on Monday in an illustration of the explosive demand from American consumers to buy products online. The data from Marketing Corp. of America, which exceeded record estimates from other surveys, showed that female shoppers made up for a bulk of the consumer retail purchases as a growing number of women gain Internet access. MCA said ''E-Retail'' sales, or the portion of electronic commerce sales directly to the end consumer over the Internet, have topped both last year's $1.3 billion and some estimates of $2.3 to $3.4 billion for this Christmas. E-Retail sales now generate 3 percent of the nation's holiday season sales. An estimated $14-$15 billion of Internet-based goods and services were sold to consumers in 1998, equaling 1 percent of the nation's retail economy for the first time, MCA said. MCA, a unit of Interpublic Group (NYSE:IPG - news), one of the world's largest public relations and advertising agencies, said the figures represent a turning point in the way Americans shop for everything from books to computers to Victoria's Secret lingerie. ''One day we may look back on 1998 as a watershed year, marking a fundamental 'paradigm shift' in the basic retail model that has existed since Richard Sears first met Alvah Roebuck,'' said Craig Johnson, an MCA partner, referring to the giant department store chain Sears, Roebuck & Co. The results, which met MCA's earlier estimates, were based on a December survey of over 1,000 consumers and a review of 200 traditional and Internet retailers. Shares of Internet retailers surged on Monday on signs of solid shopping results and Internet-related announcements. Earlier Monday, Boston Consulting Group said online holiday shopping this year more than tripled and that total online sales will reach $13 billion. Revenue next year is projected at $30 to $40 billion, it said. biz.yahoo.com