Turnover based on transactions completed on the bidorbuy online trading platform exceeded R2 million (US$307,820) with over 5,700 successful transactions.

The Web site's annual turnover of R20 million also represents a growth of 65 percent compared with 2004, and the company expects this number to grow to R100 million by the end of 2006.

'This is indeed encouraging news for the local e-commerce market and depicts growth that no-one could have predicted,' says Andy Higgins, MD of bidorbuy.co.za.

'As online shopping environments become more sophisticated, with retailers offering increased high-quality services, local online consumers are starting to see the true value of e-commerce.

"What is of more significance is the economic benefits and impact that e-commerce trade has in terms of job market creation and consumer spend, not to mention the increase in consumer benefits such as convenience, security and reliability.'