Monash University’s Australian Centre for Retail Studies has revealed in a survey that physical stores are still more important than online stores for company executives’ business growth plans.
While 62% of the CEOs interviewed agreed that online shopping had become more important in the last year, 68% of retailers believed that bricks and mortar are still the primary channel for consumers.
The survey also showed that executives considered social media to be an important tool for company branding and not a way to increase company sales. Retail leaders still continue to believe customer loyalty is the greatest opportunity for business growth.
Read more at Monash University