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It’s probably no surprise to you that every time you visit the high street these days your favourite shop has closed down or has large banners in windows screaming about a closing down sale and how you can grab a bargain, it’s a really sad state of affairs.
In 2018/2019 some of the most prestigious high street stores have gone into liquidation or have got themselves into serious trouble because their stores simply not performing. Toys R Us, House of Fraser, Patisserie Valerie and one of the more recent, Debenhams, have all been victims. So, how and why is this happening and how can we end the misery and complaints surrounding high street stores disappearance? For me, something needs to change: it’s all about creating the perfect digital presence and road map, not enough people are doing it and from my point of view it’s a complete slap in the face and a huge wake-up call for large, old fashioned companies to get themselves into gear to develop and progress with their digital presence and road map. From reading and research, it’s clear to me that we are on the verge of a complete reversal where a company’s digital platform or eCommerce website will have to (not may need to) support and fund high street store presence and this makes total sense. It has been reported recently that one in every 5 pounds spent with UK retailers is done online and this is only going to grow over the next few years.
Recently, I was involved in a conversation with a high-profile gentleman on the topic of the high street. The gentleman disagreed with me about supporting local and independent stores as well as large retailers such as River Island and Topman. He went on to say how we should all be out there supporting the high street to make sure it survives and thrives. Let’s look at shopping online vs shopping on the high street.
Benefits of shopping online
Benefits of shopping on the High Street
So let’s swiftly move on to the cons of the two
The problems with Online Shopping
The problems with High Street Shopping/Stores
I think all of the above is a huge driver of information on how people now like to shop and if the high street is going to survive and survive the only answer is to improve your online retail presence and sell, sell, sell. This in turn will increase turnover, profits and margins which will allow your high street store to be upon held.
Huge changes are coming and all retailers need to be able to adapt efficiently and effectively. The high street can strive, but right now, it needs to survive. Here is a list of very good articles that provide key information on how the high street is changing.
If you’re looking to start your eCommerce store or want us to support you on your next eCommerce venture, then please get in touch with us, we can help.