Jason Jeffries
23 January 2012
A recent study from Accenture and the European Retail Round Table found the majority of European retailers want to expand into international markets through ecommerce solutions.
The study showed 68 percent of retailers believe they will experience growth if they reach out into new markets through online stores, and 25 percent hope to increase their revenue by at least 25 percent by improving their ecommerce solutions. Janet Hoffman, managing director of Accenture's retail practise, said retailers are no longer working to defend their domestic market share, but rather are expanding in the digital sphere to take an offensive position in the international market.
For example, shoe retailer Barratts Priceless has decided to hold off on expanding its number of stores, as the company adjusts its focus to the development of its ecommerce site and improvement of its online sales. The Telegraph & Argus reported high rents and leases are decreasing profits in stores for the retailer, but its online store has continued to grow. Therefore, Michael Ziff, the head of Barratts Priceless, has allocated investments into the ecommerce side of the business.
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