Economics Project Abstract
ECOMMERCE AND IMSA: SURVEYING INTERNET SHOPPING HABITS
Presenter:
Kristoffer V. Inton, Illinois Mathematics and Science Academy, 1500 W. Sullivan Road, Aurora IL 60506; inton@imsa.edu
Mentor:
Fred L. Fleischbien, Global Business Alliance, Inc., 445 W. Erie, Suite 109, Chicago, IL 60610
Abstract:
A survey was conducted of students and faculty to find differences and similarities in internet shopping experience and opinions between faculty and students. The purpose of the survey was to find how the two groups have been involved with commerce in relation to the national model. “Total online revenues in 1999 accounted for a mere 0.8 percent of the total U.S. economy, but are projected to grow to 8.9 percent by 2003” (Business 2.0, 12-26-00). The internet revolutionized retail, as it gave an entirely new medium to reach customers. No longer was it necessary for a buyer to be in the store to make a purchase; instead, the customer could purchase from a retailer at home at any time. Last year alone, an estimated thirty-seven billion dollars of consumer sales was made off purchases by 63.4 million online shoppers in the U.S, with these numbers increasing yearly. An educated and technological community, IMSA has easier access to online shopping. However, the question arose of which group, faculty/staff and students, actually purchased online more.