It’s become a familiar message here on Better Retailing, but consultants Oxford Economics have warned some major retailers that they’re being left behind in the digital revolution, and it’s costing them dearly.
Morrisons are the biggest example, missing out on as much as £314m of online grocery sales each year, but the retail industry as a whole could be missing out on as much as £500m a year.
You might be thinking “so what” but there are some important points here. If Morrisons are missing out then where are those sales going? Tesco, or you?
Online grocery shoppers have a tendency to buy only what they need meaning great opportunities for those distress purchases in your store.
You should also think hard about what kinds of online opportunities you could be missing out on. Think about ways you can keep in contact with your customers such as Twitter or Facebook.
But it is also encouraging to see that the multiples are missing some opportunities; think about what else your local supermarkets aren’t doing!
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