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Big Retailers Grab Cash Online

Big Retailers Grab Cash Online

Online spending across Myer, Kmart, Harvey Norman and JB Hi-Fi are growing as users become more Web savvy and comfortable with parting with their dollars over the Web. According to a Morgan Stanley consumer survey, retailers are already beginning to see a pay-off from online investments made in the last two years.

Morgan Stanley analysts Thomas Kierath and Monique Rooney expect Myer to have the most growth upside as it recorded online sales growth of more than 100 percent for the 2014 financial year.

However, rival retailer David Jones should only expect a 0.4 percent increase in spending next year.

Among electronics retailers, JB Hi-Fi is forecast to extend its online lead, with nearly 35 percent of those surveyed anticipating purchasing from its online store, against 15 percent last year.