Ferrit will stop taking online orders on January 14, but will continue to direct visitors to the retailers' own websites from its website.

Alan Gourdie, Telecom Corporation of New Zealand (Telecom) Retail CEO, said: "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."

A service of YellowBrix, Inc.