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Telecom's Online Shopping Mall Ferrit To Close

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Fuseworks Media
Fuseworks Media
Telecom's Online Shopping Mall Ferrit To Close

Telecom has decided to close its online shopping mall Ferrit as part of the company's focus on the delivery of its core services.

The decision reflects that there has been a range of changes in both the telecommunications landscape and the company's strategic priorities since Ferrit first launched in 2005.

Alan Gourdie, Telecom Retail CEO, says Telecom's strategy is focused on building customer preference in the key areas of mobile, broadband and ICT.

"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.

"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.

"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," says Mr Gourdie.

Telecom is advising its retail partners individually of its decision. Ferrit will stop taking online orders on Wednesday 14 January at 5pm but will continue to direct visitors to the retailers' own websites from ferrit.co.nz.

Ferrit will be working to ensure all existing orders are received by customers in the normal delivery time.

Mr Gourdie says 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."

Telecom continues to be an active player in the development of online content and applications in New Zealand through activity and partnerships such as Yahoo!Xtra, Telecom Business Hub and Xero and in the coming months will have other developments in the content area as it launches its new 3G network.

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