Public’s business development director, Andrew Braithwaite, asks.
“None of us in the communications industry doubt the power of online communications and the importance of e-commerce platforms to drive online sales. Amazon and Asos to name but two have grown their YOY online sales repeatedly over the last few years AND made a profit. But following recent headlines on online sales for UK supermarket chains and how Yorkshire-based grocery retailer, Morrisons, has “missed out on £314 million” due to its lack of an online offer, I can’t help but conclude that the media is rather missing the point.
“Increasing sales is only a good thing if you can increase the profit the business generates through those sales. I’m not sure there is a single grocery retailer in the UK who, if their online operation had its own P & L accounts, would post a profit.
“With this in mind I wonder how much of the shareholders cash would need to be invested in chasing those lost sales?”
