Retailers lose £500m in sales by neglecting online services

Retailers lose £500m in sales by neglecting online services

Some of the UK’s biggest high-street retailers are missing out on hundreds of millions of pounds by neglecting their multichannel platforms.

Experts at Oxford Economics found that retailers including Morrisons, Phones 4U and Homebase have collectively lost up to £500m in annual sales for failing to get their mobile and online services up to scratch.

Morrisons came out worst missing out on an estimated £314m in one year. It is the only major supermarket without significant online sales capabilities including mobile, digital or in-store channels.

However, the supermarket is currently piloting an ecommerce operation and is hoping to launch its web-based food delivery service in 2013.