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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Annette who wrote (17607)	5/19/1999 11:52:00 AM
From: Jenne	Read Replies (1) \| Respond to of 41369

Wednesday May 19, 11:23 am Eastern Time AOL plans Shop@AOL,cites strong Q3 online shopping DULLES, Va., May 19 (Reuters) - America Online Inc. (NYSE:AOL - news) on Wednesday said it will introduce this summer a new online shopping service to capitalize on its momentum as a destination for electronic commerce among consumers. AOL said subscribers spent more than $1.8 billion at shopping sites on its online services during its fiscal third quarter ended in March, marking the company's push beyond Internet access and programming to become a major e-commerce destination. America Online said its new Shop@(at)AOL service represents the next generation of shopping by incorporating a merchandising strategy for AOL retail partners to drive sales of its retail partners' goods and services. Shop@(at)Netcenter and Shop@(at)CompuServe will become available later this year. The new service includes improved personalization features to cultivate consumer loyalty among retailers operating on AOL services, enhanced product search tools, a faster checkout system, and a merchant quality assurance system for consumers. The $1.8 billion AOL members spent in the company's fiscal third quarter compares with the $1.2 billion online spending spree on AOL during the 1998 holiday season and is 75 percent above the amount AOL members spent in its September quarter. The company previously reported it took in $210 million in revenues from advertising and electronic commerce during the quarter in March, reflecting its cut of business from sales by scores of major name retailers located on its online services. -------------------------------------------------------------------------------- More