By Marcus Leach

A new survey has shown that some of the leading retail giants are losing out on millions of pounds worth of online sales due to a lack of understanding when it comes to new technology available to them.

Between 2007 and 2010 alone the UK's best known brands collectively lost out on £500 million in sales.

The research, from Oxford Economics, found that supermarket giant Morrisons was the worst offender, losing out on £314 million in sales, whilst Dixons could have boosted its figures by £32.6 million with a better online presence and Homebase by £9.6 million.

According to Head, who commissioned the report, there is a worryingly high number of firms who are falling behind the advancement of technology and the benefits it can bring.

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