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More Online Retailers Planning Bricks-And-Mortar Outlets: CBA

More Online Retailers Planning Bricks-And-Mortar Outlets: CBA

Pure-play online retailers are reasingly gravitating towards opening physical retail outlets according to a new wealth Bank report. The bank’s Retail Insights report shows that 18 percent of online-only retailers are planning to establish a physical outlet in the coming year rising from 13 percent in a previous half-yearly report.

The report claims that eventually more than three-quarters of online retail businesses will also have a physical presence.

“Bricks-and-mortar and multi-channel retailers are doing more online as customer preferences evolve” commented Jerry Macey CBA national retail manager. “At the same time emboldened digital retailers are opening physical stores to complement and drive further online sales.”

In the US he said about one in five pure-play online retailers are planning bricks-and-mortar outlets by early 2017.

Meanwhile retailers have forecast strong online sales with an average 24 percent growth rate expected in the coming year +from 20 percent in the previous half and with some 35 percent of online sales expected to come via mobile devices. – Channel News

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