Internet Sales Hit $62 Billion

$62.7 billion, to be exact, up 26% from 2006, according to Canada: Electronic Commerce and Technology - 2007 Report.

This is the sixth consecutive year that online sales increased at a double-digit pace, making it an excellent time to Start an Online Business in my opinion.

Other tidbits from the 2007 Report you may find interesting:

• Only 41% of businesses in the private sector have a website, as opposed to 93% in the public sector.

• Businesses are more likely to purchase than to sell online. Just under one-half (48%) of private sector firms purchased goods and services online compared with only 8% selling online.

• In the private sector, over one-third (36%) of firms reported using Internet-based systems during 2007 to better coordinate with their suppliers and customers. Lowering costs and reaching new customers were also commonly reported benefits of conducting business over the Internet.