Morrisons responds to losing millions due to online absence

A recent study from Oxford Economics found Morrisons lost a potential £314 million in online sales in the last year, because the retailer does not run an e-commerce site. A spokesman for the supermarket chain told Insider Media the company has been hesitant to enter the e-commerce industry because it wants to make sure it can meet the demands and provide the right services for its customers.

In an interview with the news source, Julian Bradley, head of media relations for Morrisons, said entering the digital marketplace would require the company to sell more than just food online.

"We expect to provide our first non-food online service in 2012 and will be providing a food online service after that but only if we think the service is right," Bradley told the source.

The company's recent acquisition of Fresh Direct was reportedly intended to help Morrisons determine if it could maintain a profitable food business as an online retailer.

A new retailer, Shareagift.com, however, has no doubt that online retail is the prime market. Internet Retailing reported the website says it's the first of its kind, as it enables friends to pool their money to buy gifts. The e-tailer aims to transform the process of gift giving by turning it into a shared social activity.