Australian online retailer eStore.com.au is in acquisition mode for 2011 with plans to grow its already significant business through the acquisition of local online companies.
According to Lorenzo Coppa, Chief Executive Officer of eStore.com.au, the company has plans to expand both organically and through acquisitions in 2011.
“Financially, eStore.com.au is in a very strong position and we’re currently on the lookout for potential companies selling technology products online that we can add to the eStore.com.au portfolio,” said Coppa.
eStore.com.au was founded in 1991 as an Australian pioneer in the online retail space. Coppa founded the company after working for a similar business in Germany. After returning to Australia, he identified a niche for a mail order software house in Australia that operated off a low cost base. In a prescient move, the business switched to online retailing when Coppa noticed a need among consumers to purchase affordable technology products via the web.
His views today are consistent with those back then.
“Consumers are becoming savvier and are increasingly moving towards buying online citing reasons such as better prices, convenience and greater choice from online retailers,” he said.
“As competition increases, only those that have the purchasing power to offer a wide breadth and depth of products at the best prices, backed up by excellent customer service will survive. We’ve already seen a few online retailers go under over the past few months.
“I expect to see quite a bit of consolidation in the market in 2011.”
In a statement to Anthill, Coppa says he is keen to speak with owners of online businesses selling technology products looking to exit the market or explore opportunities to leverage their products with eStore.com.au.
“We are committed to growing our presence in Australia next year and acquiring other businesses is something that has worked well for us in the past. As our market share grows, we’ll be able to offer our customers an even better shopping experience coupled with excellent customer service and care,” said Coppa.
Readers are invited to follow eStore on Twitter at @estoreaustralia, learn more about eStore at www.estore.com.au and, for videos about eStore, visit www.youtube.com/estoreaustralia.