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Internet Business and E-Retail A New Medium for a New Millennium The Internet is no longer the sole domain of the nerd and the physics professor Increasing use of the Internet in schools and the integration of Internet protocols into existing hardware ie TV mobile phones and fridges has widened the breadth and scope of Internet user Britain currently has approximate 21 million members of its population online and 14 million 30 access the net at least once a month These figures are reflected across Europe and significantly improved upon in the Scandinavian countries The total projected number of Internet users by 2003 is 500 Million approximately 112 of the world population with Jupiter researchs European online retail report estimating 85 million European buyers spending around 644 Billion Euros by 2005 European users still lag behind their US counterparts in terms of time spent on the net US users average 719 minsmth while this was only 308 minsmth in Europe Germany leads the way with its users at 367 minsmth in the UK the figure is 276 minsmth It is clear that the Internet user is becoming more aware of the technical aspects of the Internet and that initial fears about the reluctance of consumers to embrace the net have been exaggerated The Internet market is many things It is the advertisers the people who use the computers the products being sold and the technology that allows it to work It is diverse worldwide and easily accessible to anybody with a PC It provides both the advertisers and the users with ways to customise the way that advertising reaches its target audience The advertisers can obtain a lot of data about individuals who are using particular websites looking at certain products etc This allows the advertiser to accumulate useful information and to target their products and the way they advertise their products very specifically at the people who are going to buy them Conversely
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