A Year Ago: Big numbers predicted for E-Commerce

Purchasing goods and services online will account for 17 billion transactions per year by 2005 -- that's roughly equivalent to half of all current credit card transactions.

For now, a happy e-Christmas is predicted by analysts who reckon there will be a global spend of around $2.3bn (£1.4bn) in the run up to the festive season.

In Britain, 1.6 million people have purchased something online in the last three months according to internet Trak survey. Those Cyber buyers are spending an average of £1,356 each with the most commonly bought items being software and PCs.

Despite the consumer boom, it is still business to business e-commerce making the real money. An IDC survey. suggests the business to business market will generate five times that of business to consumer e-commerce by the year 2000.