In Australia, and around the world, there’s a battle raging between traditional retailers and new online players.
Brian Walker from the Retail Doctor Group says the issue is often overstated; online accounts for about 7 percent of a $245 billion retail market. This is despite an exchange rate that is enormously beneficial for anyone buying from overseas.
Still, it’s a growing proportion of the market. In this episode of BTalk we examine why existing retailers need to embrace online as part of a multichannel approach — it will increase revenue and stave off competition from overseas. It’s also a big opportunity for smaller players, as some of the bigger retailers seem hellishly slow to adapt.
So, yes, there are changes happening — we talk about two new contenders, supermarketdeals.com.au and Westfield’s latest foray into online shopping.