News and Announcements
Brauz CEO Talks to the Australian About Amazon Opportunities, Expansion & $1.25m Capital Raised
- Published July 21, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Brauz, CEO, Lee Hardham – a former advertising executive of News Corp, has spoken out of the benefits with Amazon with about 50 per cent of retail stores not having an online presence.
KEY TAKEAWAYS:
- Brauz, is an app that enables customers to follow a brand or product independent of a store, and find it wherever they are.
- Brauz has raised $1.25 million with Lee mentioning that he was excited for opportunities to arise with Amazon to push more physical retailers to move into the digital space.
- There are plans to have 20,000 blended experiences stores by 2020, compared to Amazon’s “2020 goal of 2000 physical stores globally”.
“I was sitting in the car after talking to retailers and I realised the advice I was providing to them was setting them up for failure,” said Lee hardham.
“Google only has so much effective space, so if you’re not on that first page on Google it’s useless… I realised that there’s no real online home of our retail stores.”
The future of retail lies in the physical store with a blend of online and virtual, Mr Hardham said.
“Everyone’s screaming about the death of bricks and mortar stores, but the reality is 90 per cent of all sales today still occur in bricks and mortar stores,” Mr Hardham said.
“When I created Brauz it wasn’t to compete against Amazon. Amazon competes with the physical stores and there hasn’t been that solution for them until Brauz… It’s perfect for us and it’s great for retailers that need to make their stores part of a bigger customer journey.”
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