The Hill News

By most accounts, Black Friday this year was a big success.  Sales figures exceeded expectations as throngs turned out to snap up $20 toasters and $200 flat-screen TVs.   But for all the millions who got up from turkey and pie to head for the nearest local mall, many shoppers ventured no farther than the computer in the next room.  

E-commerce has come to play a critical role in the U.S. economy.  On-line sales for “Cyber Monday,” last week jumped roughly a third compared to last yearâ€"reaching well over $1 billion in a single day.  On a yearly basis, e-commerce generated more than $160 billion in sales in 2010 alone.  

There’s much to cheer about in these numbers, and not just for retailers.  The Internet offers consumers access to a remarkable array of options and far better information for discriminating among them.  A market of buyers and sellers unbound by geography can achieve levels of competitiveness and efficiency Adam Smit! h never dreamed of, driving prices down and spurring manufacturers to innovate relentlessly.  

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