With the rise of online shopping retail
chains do not need as many stores as they did in the past, a trend that looks
set to accelerate this year.
Customers are becoming ever more savvy in
looking for value for money, employment is tight and also we've seen a massive
growth in the supermarkets in terms of non-food retail.
Now further adding to the problems of the
“bricks and mortar retailers” is the rise of “showrooming.”
Essentially this is customers going into a
shop to browse but in reality an exercise to check out goods and then search on
line for a more competitive deal.
The growth of online shopping is a
juggernaut now accounting for 12% of retail sales - and forecast to be at least
30% by 2020.
Those retailers who fail to exploit all areas of multi channel
marketing whilst finding themselves saddled with the burgeoning costs of
maintaining retail outlets will continue to suffer.
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