Corporations Prepare for Radical Changes in Online Commerce IDC’s Internet Executive Forum
FRAMINGHAM, Mass., September 16, 1999 -The momentum of the Internet is growing with the impact of the Internet e-conomy just beginning to be felt. In the next 24 months, online businesses will need to prepare for this entirely new scale of commerce what International Data Corporation (IDC) has dubbed Internet Economy 2.0.
"Almost everything that defines Internet Economy 1.0, including user demographics, buying trends, and technological infrastructures will be different in Internet Economy 2.0," said Frank Gens, IDC senior vice president. "At IDC's Internet Executive Forum, business leaders will find out how to prepare their companies to profit from the radical changes about to occur." IDC will present current trends and data and have experts available to discuss the new Internet economy on September 28-29, 1999 at the San Francisco Airport Marriott.
According to IDC research, this year there are a total of 235 million devices worldwide able to access the Internet, accounting for 190 million worldwide Web users completing $109 BILLION in purchases impacted by the Web. "That number is expected to grow more than ten-fold over the next five years to $1.3 TRILLION in 2003, with $842 million completed directly over the Web," said Sean Kaldor, group vice president of IDC's eBusiness advisory research service.
Today, the Internet is a Web of content and sites. But over the next few years, it will transition to a Web of consumers. Web merchants and content providers must be prepared to either avoid this lower-paying mass or embrace them. "No longer affluent, technically literate, and relatively patient, Internet customers coming online over the next several years will be far more demanding and far less patient," Kaldor said.
IDC's Internet Executive Forum and its co-sponsors and conference partners plan to present an interactive, fact-based, and forward-thinking program. Internet topics to be covered include the economic impact of real-time, online trading communities; online barriers to converting international traffic into customers; strategies for attracting and retaining etalent; measuring the value of online customers; the pros and cons of integrating ebusinesses with existing legacy businesses; and beyond Internet Economy 2.0.
Editor's Note: For more information on IDC's Internet Executive Forum, visit www.idc.com/events/ief99. Press passes and interview requests are being processed in advance of IDC's Internet Executive Forum by Erin Lynn Marino, 617.489.2006, firstname.lastname@example.org or Liz Gagliardi, 508.935.4002, email@example.com. Advance scheduling is recommended because space and availability of experts are limited.
International Data Corporation delivers accurate, relevant, and high-impact data and insight on information technology to help organizations make sound business and technology decisions. IDC forecasts worldwide IT markets and adoption and technology trends, and analyzes IT products and vendors, using a combination of rigorous primary research and in-depth competitive analysis. IDC is committed to providing global research with local content through more than 500 analysts in more than 40 countries worldwide. IDC's customers comprise the world's leading IT suppliers, IT organizations, and the financial community. Additional information on IDC can be found on its Web site at http://www.idc.com.
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