German electronic sales boom - jump 76 percent

26th January 2005, Comments 0 comments

28 January 2005 , BERLIN - The era of paper-based trading is fading fast, with electronic transactions in Germany via the internet expanding last year by 76 percent to an annual value of EUR 200 billion, a trade group said. The study, by the BITKOM association of computer and software makers, found nine-tenths of the electronic trading was business to business. Online retail sales also rose, to EUR 22.3 billion, but were dwarfed by the EUR 180.3 in B2B transactions. The study was conducted by market resear

 28 January 2005

BERLIN - The era of paper-based trading is fading fast, with electronic transactions in Germany via the internet expanding last year by 76 percent to an annual value of EUR 200 billion, a trade group said.

The study, by the BITKOM association of computer and software makers, found nine-tenths of the electronic trading was business to business. Online retail sales also rose, to EUR 22.3 billion, but were dwarfed by the EUR 180.3 in B2B transactions.

The study was conducted by market research company European Information Technology Observatory (EITO).

The authors quoted analysts who forecast the volume of electronic transactions over the Internet in Germany would more than triple by the end of 2008 to EUR 670 billion with nearly 90 billion of that sum retail.

A BITKOM spokesman said that figure included all goods and services purchased by a computer "click" through a web browser.

Thanks to sophisticated technology that can convert database information into web pages on the fly, German companies are rapidly deploying trading systems that allow business customers to place and check orders with nothing else but an ordinary internet computer.

This way, car manufacturers can invite tenders and place orders for components from approved suppliers, and shipping companies can let customers use their servers to book and track container space on freighters.

DPA

Subject: German news

 

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