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Jupiter lowers online commerce forecast

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New York--Jupiter Media Metrix Inc. has revised its projections for online revenue, citing the dot-com shakeout. In a new report, Jupiter said its projection for online retail commerce has been lowered to $104 billion in 2005, which is down 12% from the figure projected last year. Jupiter attributed the decline to the meltdown in online grocery shopping. Also, Jupiter lowered its revenue projection for online managed business travel to $25 billion in 2005, down from $33 billion projected last year. However, despite the short-term setbacks, Jupiter said it remains confident in the long-term growth potential of the Internet marketplace. Some of the factors contributing to long-term growth include business cost savings and consumer demand for new online services, according to Jupiter.
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