Online to cap at 10pc: Myer boss
Online to cap at 10pc: Myer boss

Myer boss Bernie Brookes says he doubts online retail sales in Australia will top 10 per cent.

Myer's online sales are currently less than one per cent of its overall sales but Mr Brookes says the retailer is on track to increase it to 10 per cent in the next five years.

He says he is basing his figure of 10 per cent on online retail figures from the United Kingdom and the United States.

"It will vary a little bit by category, electronics might be a bit more than that, but what we're seeing overseas is that 10 per cent seems to be the mark at which it goes," Mr Brookes told the ABC.

"Really good retailers might get to 15 per cent, some are stuck at 6-7 per cent but there is a long way to go in Australia, there's a lot of growth in this space, we're not burying our head in the sand."

Mr Brookes said while Myer had just had four months of positive comparable sales growth, partly due to the federal government's compensation payouts for the carbon tax, it did not mean the tough trading conditions were over.

"We're starting to see a little bit of light but we're not seeing it as a trend because we're not certain what's going to happen over the next 12 to 18 months from an economical, political and social perspective," he said.

The West Australian

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