Pacific Brands chief says innovation key to retail success.
Pacific Brands is a major Australian company marketing everyday essential products such as Berlei, Bonds, Clark's, the children's shoes, Dunlop, Everlast, Grosby, Holeproof, Hush Puppies, King Gee, Malvern Star, Sheridan, Slazenger, Sleepmaker and Tontine.
Ms. Morphet in that occasion has said that online shopping was both a menace and a prospect.
She said that it is in the hands of Australian retailers who want to survive in the commercial environment and to accept the online competition.
Ms. Morphet also said that in the US, there are seven out of the top ten online retailers were also bricks and mortar stores and it was also the same story in the UK.
She said that in the US, online stores like Walmart, Staples, Sears and Best Buy are in the top 10 same with in the UK, with brands like Tesco, Marks and Spencer also in the top 10 online stores.
She said that Australia doesn't have any bricks and mortar retail stores in the top 10 online stores.
Australia has eBay, Amazon and Deals Direct.
She said that retailers can still maintain a brick and mortar store and still competes in the online retailing business at the same time and the need to understand this phenomenon and move on with it.
She said that shoppers not only buy items but also want to experience the newest trend in the retail industry.
She gave a contrasting opinion that the success of outlet bookstores and the collapse of other key book retailers in the industry was due to the online trend.
She said that the retailers should think more than just price in order to succeed.
She said that shoppers buy products based on price or quality; consumers will buy products if it is the number one brand or the price being offered.
She said that customers visited retail stores and seeks a better price. The retail store down the street is longer and a whole lot easier to find the way.
Retailers should provide products range in excellent condition including excellent value and service.
She said that if retailers cannot offer those qualities, customers will look somewhere else and the online retailers is easier to find what they are looking for.
She says retailers need to think about how to launch their brands in the playing field.
She also said that retailers should start to use social networking marketing to talk to their customers and give them satisfaction.
Ms. Morphet also gave an explanation that using innovative thinking achieve a 1000 percent increase in pillow sales last year when her company Pacific Brands launched its Tontine date-stamped pillows.
She said: "Consecutively, for us to substantiate the worth of our brands our product has to be original, high in quality and engaging in the desires, needs and sentiments of the consumer."
She also said: "Innovation is all we need to redefine our kinds. People have been patronizing white pillows for a hundred years now and the effect was incredible."
From the reports of skynews.com and bigpondnews.com
|Printer friendly Cite/link Email Feedback|
|Publication:||International Business Times - US ed.|
|Date:||May 26, 2011|
|Previous Article:||Obama in Deauville tomorrow: Farewell to the UK and Hello anti G8 Protesters.|
|Next Article:||Battle of upcoming Android phones: HTC Desire S, Wildfire S vs. Samsung Galaxy S II.|