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CapGemini: Retailers Are Underestimating Internet Channels
March 3, 2007
"CapGemini has noticed that about two-thirds of retail CEOs are not fully aware of the 3-to-5 year effects of online or multi-channel developments on their businesses. CEOs are also less eager to look at channel developments as positive opportunities, but view them rather as a competitive negative end-game.
Mr. Steve Sutton. retail consultant at CapGemini reported on the basis of the reports gathered from several CEO discussion groups and interviews at The Retail Business Show in London in the month of January 2007. Mr. Sutton stated the views to be of a consistent nature, irrespective of the age factors of the CEO. The product sector also holds no relevance to the circumstances; it is a retail mindset that rules their thoughts.
According to CapGemini, online sales comprise 10% of total retail operations, and expected to exceed 25% by 2010, before stabilizing at the point.
The 50+ age group appears to be the fastest growing segment among the Internet users. Another study by Centre for Economics and Business Research claims online sales would be 15% of all UK retailing by the end of 2007, which amounts to £40billion, to increase to 40% by 2020 and £162billion. "