Online won’t destroy retail, it’ll give us money to spend locally

by Richard Denniss in Crikey
Originally published in Crikey on August 5, 2011

The most profitable retailers are the ones who can get you to pay far more than something is worth. In Australia, Tiffany jewellery, Levi’s jeans and even Coca-Cola cost far more than they do in other countries. The brands, the retailers and the shopping centres are the big winners out of this sad state of affairs and customers and the non-retail sector of the economy are of course the big losers. Online shopping is, for the first time, allowing Australians to access a genuinely competitive marketplace and the result is customers making big savings and the most expensive retailers facing even bigger reductions in profits.

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