Failure of high street retail shops essay

Digital retailing is quickly evolving and expanding and can now be described as an omnichannel retailing experience. Its international operations consist mainly of franchises but it also owns a number of stores in Hong Kong.

Failure of high street retail shops essay

It would be dumb to foretell their complete demise, especially in high-value places like the west end of London, but shops, like CDs and DVDs, like typewriters, film photography and answering machines before them, are losing their quality of inevitability. Retail giants fall In the past 10 years, Brits have seen a number of their favourite shops close their doors. It is important, in the great sweep of things, to distinguish between different types of physical shopping. For retailers an optimal branding strategy and market structure exists for the dual-channel stores of a multi-channel retailer Yan, RR In addition to the recession, the customer focus on price has had a significant impact on the market and has also had an effect on value. Online purchases of consumer electronics, music and video have grown dramatically which has caused the acceleration of decline of the traditional channels Oliver, M Brexit has also pushed an unprecedented uncertainty onto businesses, regarding the future of stocks, shares, interest rates and the value of the pound which may cause a drop in confidence and therefore sales. Ultimately, many consumers have come to the conclusion that they are prepared to sacrifice service in favour of value. In the essay, entitled Why Our High Streets Still Matter, which she has posted on her website , Portas is generally upbeat, arguing: "High streets will thrive if we re-imagine them. Supermarkets have superior size and scale therefore they can undercut their specialist rivals on price, taking business away from what were once market leaders in niche sectors. Due to the economic downturn that the UK economy has experienced, there has been an increase in VAT from At this year's event in May, markets signed up. Supermarkets are becoming increasingly dominant within the market place as they increase their product lines at the expense of specialist retailers.

The retail marketing environment is highly changeable and the retailers that are most likely to survive and flourish in the market place are those that are able to adapt quickly and effectively to the external pressures, any company that cannot keep up is likely to fail.

Online retail is now an established shopping behaviour, and Smartphone devices have enabled the growth of multichannel retail.

is online shopping destroying the high street

Another company that has recognised the large potential of combining desirable retail spaces with efficient online operations is John Lewis. Primark does not adopt a multichannel approach however its very low prices and quality design are an effective strategy in persuading customers to purchase its products.

The technology revolution has had a major impact upon the UK retail industry.

the demise of the uk high street

For retailers an optimal branding strategy and market structure exists for the dual-channel stores of a multi-channel retailer Yan, RR Consumers can easily and fairly quickly compare online, product specifications, price and availability Deloitte: Global Powers of Retailing, Jan

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Death of the high street: is it time for retailers to throw in the towel?