High-street prices cut as consumer sales fall in first week of December

From The Guardian – 13 December 2013

High street sales fell unexpectedly in the first week of December as squeezed consumers put off Christmas shopping, a survey indicates. Non-food sales in stores dropped 4.1% in the week ending 8 December, led by a 5.9% fall in fashion buying, figures from the accountant BDO showed. Spending on homewares increased 4.5% and online shopping jumped by 25%.

The figures underscored evidence from individual retailers that the high street is struggling despite predictions of a bumper Christmas fuelled by signs of economic recovery. With more than a week of trading to go, H&M has launched a “winter sale” with price cuts of up to 60%.

http://www.theguardian.com/business/2013/dec/13/high-street-price-cuts-consumer-spending-falls-christmas

 

Net Essence Editor’s Comment

I think this shows that high streets are changing. Rents will have to decrease as high-street, “bricks and mortar” businesses realise that there are now some very serious player in town. And out of town. And online.

Town and city centres will always have shops, but the high street is going to change. 25-50% of non-food purchases will NOT be made in the high street. This is only the beginning.

For high-street retailers o have any kind of influence and market share, they will need to embrace the new technologies.

They will need WiFi in their shops providing in-store benefits.

They will need to think about how they can use their customers’ mobile devices to their own advantage.

Net Essence is working towards this future… Please continue to follow this blog for more…

 

 

 

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