If you’re not buying clothes online, you soon will be. Oh, and liquor as well.
I meant to write about a cracking article I read in Business Spectator a few weeks back, though I haven’t had the chance.
Even in the fast-moving Internet space, the 8 or so weeks since the article was written and this blog hasn’t taken the sheen of it.
The article looks at who retail industries and discusses the extent to which they will be disrupted by Internet.
The first is liquor where Wiliam client Dan Murphys is referenced as facing increasing challenges from online if it doesn’t adapt its business model.
According to former COO of Carsales, Shane Pettiona, one quarter of all wine will be sold on the Internet by 2016.
If that is true, that is extraordinary and the traditional offline retailing of liquor really will be in trouble.
The second industry discussed in the Business Spectator article in clothing and the stats there really are impressive.
According to the Quantum actuarial group, by 2016, 30% of high-value clothing sales will be online. In the premium and mid-priced part of the sector, sales will be 20%.
Only ‘value’ or low-priced clothing escapes with only 5% online sales by 2016.
In Australia where we pay a pretty penny for our clothes, this can only be a good thing.