Move quickly to capitalise on online retail
But, lifting the cover, there are a few things that you need to think through, before you leap.
Selling products and services online is fast becoming an attractive option for many existing Australian retailers and the core offering of a number of new start-ups.
However, we believe many existing retailers are not moving quickly enough to capture this booming area of opportunity. Further, both long-standing and start-up retailers are not thinking strategically about how they will address the challenges ahead.
Many long-standing retailers do not appear to be doing enough to transact online – or if they are, they’re failing to communicate their plans to investors, customers and suppliers. However, growing online presents at least five challenges and areas of opportunity for both established and start-up retailers to consider.
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