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Retail

Physical Shops Still The Main Place To Do Business, Say WRC Experts

By square1
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Physical Shops Still The Main Place To Do Business, Say WRC Experts

Global retail executives at this year's World Retail Congress say that physical shops are still the most important way for their businesses to engage with customers. 47% say that stores will account for more than half their sales growth over the next 12 months, compared to 31% for online.

The World Retail Congress is taking in Paris this week which is undertaken by the Australian Centre for Retail Studies. The report surveyed 156 senior figures at companies including Alliance, Boots, Gap, Mango and Tesco.

The survey reveals that online and mobile shopping becoming more important. 54% of retailers stating that their online sales will grow significantly over the next two years and 39%expecting a substantial rise in mobile sales. However, more than half the executives still said they will open new stores at home and abroad over the next 12 months. They firmly believe that physical stores are more dominant.

Retailers are more confident about the economic outlook in comparison to last year. Some 28% of retail bosses said that economic instability could have a strong impact on their business, compared to 45% in 2012, while the proportion of retailers expecting their sales to increase in Western Europe rose from 39% to 47%.

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