Morrisons lost out on sales worth more than £300m due to its late entry to online retailing, a new study has claimed.
Due to their ‘digital deficit’, top retailers missed out on sales worth a combined £500m between 2007 and 2010, according to research by Oxford Economics for digital agency Head London.
Much of that figure was due to Morrisons, which was estimated to have missed out on sales worth £314m. Other retailers criticised in the report included Dixons, Phones 4U and Homebase. By contrast, Tesco was found to have the most ‘joined up’ digital strategy, generating an additional £255m in sales.
“We found a clear link between growth and multi-channel performance,” said Sam Moore, consulting director at Oxford Economics.
“There is a commercial incentive for firms to invest in a digital multi-channel strategy.”
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