ONLINE SHOPPING BOOM BRINGS MIXED REACTION FROM RETAIL

ONLINE SHOPPING BOOM BRINGS MIXED REACTION FROM RETAIL

MORE than a third of retailers see the internet as a threat to their business and have not implemented counter strategies, according to new research.

An MSI Global Alliance survey released in October collected data from 822 Australian and New Zealand retailers, wholesalers and business-to-business service providers.

While 75 per cent of the businesses polled agreed the internet had pushed them to change the way they transact with customers, 21 per cent of retailers do not intend to implement an online stategy, despite seeing the internet as a threat.

The figures are concerning, according to MSI Global Alliance Australia and New Zealand chairman Alec Blacklaw (pictured).

“It is worrying that so many retailers who have clearly identified the online threat against their current revenues have indicated they have no plan or strategy to deal with the threat,” says Blacklaw.

“It is never too late to adopt new technology and embrace a different way of doing things.

“Businesses need to consider the potential impact on their future revenues and profitability by developing specific plans to review and refresh their business models.”

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