Traditional retailers have only just begun to witness the growth of e-commerce, a new research note from Morgan Stanley has warned, with digital sales tipped to continue growing at more than 20% every year. The bank says a combination of high rents and massive price differences will hurt electronics, department store, clothing and book retailers, adding that it has downgraded price targets for David Jones, Harvey Norman, Billabong and Myer.Online retail to grow at 20% per year as bricks and mortar suffers: broker
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