The start of 2013 has seen former retail giants, HMV, Jessops and Blockbuster all slide into administration with the loss of jobs and very little prospect of a return without radical restructuring of their business models and brand. The Future of the High Street report was commissioned in 2011 as pressure mounted on the Government to address the issue, but nearly two years on, the future of the high street seems bleaker than ever. One in nine high street shops now stand empty as competition from online retailers remains fierce and consumer spending continues to be hampered by the poor economic climate.
It’s simplistic to blame online competition as popular brands Next, John Lewis, Argos and PC World all reported strong trading over the last quarter with like for like sales up in stores and online. These are all strong brands that have moved with the times, providing a winning combination of product, price and customer service. Their online services (‘clicks’) works with rather than in competition with their stores (bricks), providing reserve and collect and the reassurance of somewhere to go if there is a problem. See this article for more information: http://www.independent.co.uk/news/business/analysis-and-features/high-street-blues-the-slow-death-of-retail-britain-8458766.html
While successful national chains have established e-commerce operations, selling products online is now well within the budget of most small to medium sized businesses. Get in touch with Dinesh on 07941 686113 or our enquiry form http://www.webgrowth.co.uk/contact-us/ for more information.