IDC: E-commerce to hit $1.6T in 2003

A new report from International Data Corp. predicts $1.6 trillion will be spent on Internet commerce by 2006. The new study says that by the end of 2000 29 percent of people online will purchase goods or services, and that that number will hit 38 percent by 2003. And more and more of those dollars will be spent outside of the U.S. The Framingham, Mass. research firm predicted that the U.S. share of e-commerce will fall from 62 percent in 1999 to 48 percent in 2001. - Margaret Kane, ZDNet News