Traditional big retailers will have to overcome their inability to get to grips with the Internet to better compete and help them grow to be a top-10 shopping site within five years. So says Myer boss Bernie Brookes.
Brookes made the comments at a business lunch where he admitted that Australian retailers had been slow to move into online shopping.
He said this was partly due to the higher costs involved in delivering goods in a geographically large country with a relatively small population.
But he claimed Australian retailers were now quickly catching up with their online offerings and predicted that in the next three to five years the most popular local department stores would all be online.
