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Construction e-trade to double in one year

News

CONSTRUCTION business conducted over the Internet is expected to double within a year, according to a survey by the Construction Products Association.

The survey found that only 5 per cent of activity in the construction industry is currently conducted in this way. This is expected to triple by 2004.

By 2005, e-commerce is expected to account for up to 50 per cent of all transactions in the construction industry, says the CPA.

Michael Ankers, CPA chief executive, said: 'Too many people still fail to recognise that it is not just the high-profile Internet companies that are benefiting from e-commerce.

'Electronic trading is just as important to industries, such as the construction sector, and provides another important tool for ensuring our long-term competitiveness and success.'

While e-commerce is expected to boost efficiency in the industry, 40 per cent of respondents to the survey expressed concern that it would also mean a loss of personal contact with clients.