(PRWEB) July 31, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports that Australia's retail industry is changing as online shopping becomes the norm there.
Big4.com notes that a record 53 percent of Australians over 15 shop online according to new research released by PwC and Frost & Sullivan. The Australian and New Zealand Online Shopping report found that in 2012 online shopping in Australia will increase 17.9 per cent to $16 billion, and is predicted to grow to $26.9 billion by 2016 at a compound annual growth rate of 14.1 per cent.
According to PwC Global Retail & Consumer Advisory Leader, Stuart Harker, online shopping is now mainstream and Australian retailers need to reset their business models in response to the new retail environment.
“Like retailers in the US and UK are doing, Australian retailers must fundamentally rethink their strategy, particularly in relation to their real estate and store portfolio. The days of growing by simply opening more stores are long gone," he says.
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