Telecom’s online shopping mall Ferrit to close

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Telecom has decided to close its online shopping mall Ferrit as part of the company’s focus on the delivery of its core services, informed a company press release.

“In this changing market, Telecom is directing its focus and resources to core business areas such as significant commitments and investment in next generation broadband and mobile technology to benefit our customers,” said Alan Gourdie, CEO, Telecom Retail, in the release.

“Telecom’s aim in launching Ferrit was to help develop New Zealand’s online retail market. Since 2005 we’ve seen a growth in retail adoption of online with many retail players adopting ecommerce and web capabilities,” added Gourdie.

“Ferrit has continued to grow during the past three years but the current retail environment has meant the break-even point has shifted out a number of years. The decision has now been made to refocus and resources will be directed to other areas,” clarified Gourdie.

While Telecom is advising its retail partners individually of its decision, Ferrit will stop taking online orders from January 14. Meanwhile, Ferrit will be working to ensure all existing orders are received by customers in the normal delivery time.

In the release, Gourdie said that a number of the employees working on Ferrit have been involved from launch and have valuable new media and online expertise. “Our priority will be to capitalise on these people’s skills wherever possible through redeployment to other parts of Telecom.”

— IndiaRetailing Bureau

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