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Buyers Still Spending Online Despite Economy's Slowdown.(A)(Internet & Technology)
Byline: Antonio A. Prado
Investor's Business Daily
Even with the slowed economy and the dot-com sector enduring an ugly shakeout, retail sales on the Internet surged.
They soared 67% year-over-year to $8.69 billion in the fourth quarter of 2000, the Commerce Department says.
That's also a 36% jump from third quarter Net sales of $6.39 billion.
The numbers refute the gloom-and-doom talk about e-commerce, says Brian Nottage, an economist at Economy.com/The Dismal Scien
tist, a research firm in West Chester, Pa.
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