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(Continued)     The RFS Newsletter, May 27, 2006. Page 5
Mr Page and his chief executive, Eric Schmidt, who was also addressing the event, said Google's revenues could grow exponentially, as it had tapped a tiny proportion of the $800bn (£424bn) global advertising market. Mr Schmidt pointed that advertising that was targeted for web searches only accounted for 0.5 per cent of the market. "Our category of advertising is showing 50 to 100 per cent growth. Other categories are not growing. Market share [for web search advertising] will never be 100 per cent, but I can imagine 5, 10, 15 or 20 per cent."

In developments on Thursday, and according to a recent report conducted by Forrester Research, in 2003 eCommerce sales reached the $100 billion treshold. Now, according to the 9th annual "State of Retailing Online" survey done by Shop.org, eCommerce sales (including travel) will be up 20 percent this year, reaching $211 billion. Online sales excluding travel will reach $138 billion. Forrester says that eCommerce sales rose 25 percent last year to $176 billion. And, again excluding travel, Internet retail sales rose 28 percent to $113 billion, representing 4.7 percent of total retail sales a year ago.

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