Does anyone shop on the high street anymore?
Retail expert Mary Portas is set to warn that many of the UK's High Streets may be lost unless shops and councils work together to regenerate them. Her independent report for government on the decline of town centres says years of neglect and the growth of online shopping have left many areas "dying" or indeed, already dead.Portasreadily admits that online retailing has enjoyed phenomal growth; justified by notions of value, service, entertainment and experience against which the average high street as, in many cases, failed to deliver.
Kevin Flood, CEO and retail expert at Shopow said,"With an austere Christmas on the cards and high street retailers indulging in panic sales over concerns about being left with unsold stock, we knew that online shopping was likely to make big gains. The news that a whopping 50% of people are spending their hard-earned money off the high street however is nothing short of staggering."
He continues; "The recession and strong demand from consumers hunting for deals online has lead to an all out price war, with many retailers losing their nerve. There is a huge concern that the high street will become terminal as our bargain hunter nation scour the web for better deals and offers.
"This is an era when more shoppers favour online stores ahead of the high street; unfortunately to the detriment of the latter."
Read more at www.shopow.co.uk/