×

Warning

JUser: :_load: Unable to load user with ID: 63
Monday, 24 October 2011 08:44

Bricks and mortar retailers told to get online quickly

By

Australia's traditional retailers have been told to move quickly into the online world before consumers develop loyalty to the much more nimble new players.

According to Deloitte's national technology, media and telecommunications leader, Damien Tampling, some of Australia's most successful, fast moving startups at the moment are online retailers, and with Australia's total online retail sales expected to reach $33.3bn in 2015 - double the 2009 figure - traditional Aussie retailers need to move faster to take a position in this growing space, before consumers align themselves to new, online-only brands.

Tampling said: "Whilst local online sales represented four percent of all retail activity in Australia last year, there was another half again going to online businesses offshore. This means traditional retailers are getting disrupted in certain categories by both local startups and more established offshore players."

He added: "Traditional retailers must realise that in this new world they may well require a new brand and a new model that leverages their strengths, but operates independently. Our Aussie retailers can't take a 'wait and see' approach on this one as they are already getting left behind."

He suggested that: "A rapid small, but still meaningful investment in the space is better than waiting for a perfect model that fully integrates with the supply chain, franchise model or in-store POS."

"There's no doubt that competition will become more aggressive, and we are likely to see more players acquiring or merging to gain scale, grow or survive. So big retail must move quickly to develop and deploy a strategy that allows them to at least be in the market in a meaningful way."

Tampling cites Grays Online, Catch of the Day and Ozsale, as successful examples of the new breed of online retailer. "[All] have been courted by venture capital style investors over the last 24 months. They saw the potential and moved quickly. The result was that two of them have taken money from offshore investors who have seen the online retail potential unfold elsewhere in the world'¦And there wasn't a traditional retailer in sight."

He notes that, in the last few weeks, Grays Online and eBay have both indicated they would be extending their current online offering into the fashion niche, putting further pressure on traditional retailers.
 
"We advise any organisation looking to play in the online retail space to invest in the following five areas: develop a focused product strategy and roadmap identifying which products you will start with online and why, and determining how your offering will evolve; think through the best inventory management model; create a plan for how the business will engage with suppliers; determine a business model that can move quickly and innovate constantly.

DIGITAL MARKETING HAS NO SOCIAL DISTANCING OR TRAVEL RESTRICTIONS

As part of our Lead Machine Methodology we will help you get more leads, more customers and more business. Let us help you develop your digital marketing campaign

Digital Marketing is ideal in these tough times and it can replace face to face marketing with person to person marketing via the phone conference calls and webinars

Significant opportunity pipelines can be developed and continually topped up with the help of Digital Marketing so that deals can be made and deals can be closed

- Newsletter adverts in dynamic GIF slideshow formats

- News site adverts from small to large sizes also as dynamic GIF slideshow formats

- Guest Editorial - get your message out there and put your CEO in the spotlight

- Promotional News and Content - displayed on the homepage and all pages

- Leverage our proven event promotion methodology - The Lead Machine gets you leads

Contact Andrew our digital campaign designer on 0412 390 000 or via email andrew.matler@itwire.com

CONTACT US!

LAYER 1 ENCRIPTION A KEY TO CYBER-SECURITY SOLUTION

Security requirements such as confidentiality, integrity and authentication have become mandatory in most industries.

Data encryption methods previously used only by military and intelligence services have become common practice in all data transfer networks across all platforms, in all industries where information is sensitive and vital (financial and government institutions, critical infrastructure, data centres, and service providers).

Get the full details on Layer-1 encryption solutions straight from PacketLight’s optical networks experts.

This white paper titled, “When 1% of the Light Equals 100% of the Information” is a must read for anyone within the fiber optics, cybersecurity or related industry sectors.

To access click Download here.

DOWNLOAD!

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments