AUSSIE RETAILERS FINALLY WAKE UP TO ONLINE

Written on the 21 January 2014

AUSSIE RETAILERS FINALLY WAKE UP TO ONLINE

AFTER being left behind in the initial move online, Australian retailers are finally catching up to their international competitors, albeit slowly.

That is the view of CBRE national director retail services, Alistair Palmer, on the release of the company’s Retail and Digital Technology survey.

Palmer says offshore retailers have been more sophisticated and much more advanced with their online platforms.

“In the digital age, it is more important than ever for Australian retailers to understand their brand and the way it engages with consumers,” says Palmer.

“Advances in technology provide an increasing range of tools to do this, and consequently those retailers that do embrace digital technology will have the best chance of success. This is true throughout the retail spectrum, from food to fashion and from luxury to value.

CBRE surveyed 50 leading international retailers to identify strategies for multichannel retail and how they see it developing in the future.
The results show just how important online and multichannel retailing is to retailers in Australia today.

- 87 per cent believe digital strategies are a key to driving revenue.
- 80 per cent expect increased foot traffic in stores.
- 40 per cent anticipate a need for more stores.
- 85 per cent have a dedicated resource to run digital strategies
- 87 per cent operate a transactional website.
- 40 per cent have a heightened need for warehouse space

By definition, new technology is always evolving and the use of smart phone applications and geo-localisation are set to be the next big thing. Most retailers are also looking to create larger, more experiential stores as part of multichannel retailing.

Stephen McNabb, Head of Research for Australia, says digital technology could lead some retailers to focus on smaller stores that would operate more as showrooms.

“Successful digital strategies clearly require investment; not only the cost of technology, but also for hiring and training staff to implement this, and the reorganisation of the business model in line with this.

This in-store investment in new technologies is essential in order to ‘stay ahead’ of the competition.”


Latest News

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter