Creative selling leads to big profits

The Commonwealth Bank of Australia's latest sales indicator showed creative, technologically savvy retailers are reporting higher sales than their less innovative competitors. Many Australian retailers lost customers to overseas retailers with ecommerce sites and more engaging marketing tactics.

In an interview with BusinessDay, CBA's Matt Comyn said the weak economy is putting pressure on retailers to develop new ways to attract consumers, enable purchases online and increase sales while shoppers are tightening their budgets and waiting for discounts.

A new online retailer, Sneaking Duck, recently launched an online store that sets it apart from the competition. The founders of Shoes of Prey created the online store, which allows shoppers to try on eyewear before making a purchase. By uploading photos of themselves, shoppers can digitally see what frames fit best, Inside Retailing reported.

“To then to try your top five frames at home is the ultimate in convenience,” CEO and co-founder Mark Capps told the source. He added that glasses are "the most prominent accessory you wear," so a digital try-before-you-buy feature is essential for consumers.