Australian appliances retailer The Good Guys is dropping its "pay cash and we’ll slash the prices" promise from its catchy television ads, underlining the impact of e-commerce and new payments technology on the AUD20 billion (USD7.39b) household appliances and consumer electronics market.
"Pay less pay cash is in the noose now," The Good Guys chief executive Michael Ford said. "It played a very significant role in building the brand but we now have to move on to recognise we’re in a fully digitalised world and the customer has all the power in their hands."
More than 57 percent of The Good Guys customers research products online before they come into stores and offering discounts for cash no longer guarantees a sale, particularly in an increasingly cashless society, Mr Ford said.
(Source: The Sydney Morning Herald Online )