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E-commerce revenue could be set to increase

Rachel Wheeler Archive
The future of the e-commerce industry looks bright, with new figures suggesting that revenue is set to rise this year.

National ICT Association of Malaysia research, which may reflect trends in the US, predicts that revenue will increase from $22.15 billion last year to $29.24 billion in 2010.

According to the body, airlines, travel and financial sectors are likely to be key drivers in this growth, Business Times has reported.

Speaking during a media briefing, Wei Chuan Beng, chairman of the organization, said that small and medium enterprises are expected to increase their uptake of e-commerce platforms in order to "open up their businesses to the world".

He added that the information, technology and communication industry should post growth of 15 per cent this year as a result of an improved economic outlook.

Meanwhile, a recent article by Retail Solutions Online suggested that the e-commerce industry has been boosted by the recession.

The news provider claims that an increasing number of manufacturers are heading online to sell directly to the customer and increase their profit margins.

Posted by Rachel Wheeler