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21/03/2012
Will The Internet Kill The Highstreet Store?
A new report has claimed one in four highstreet shops will be closed within five years as consumers chose online shopping instead.
High streets will be populated with coffee shops and internet kiosks, claim experts, as the boundaries between physical and virtual space become blurred.
The report, by Deloitte, says retailers will need to reduce the amount of property they have by 30/40% in order to stay competitive.
"The majority of UK retailers have simply got too many stores," said Silvia Rindone, a Director in the retail consulting practice at Deloitte and author of the Store of the Future report.
Total floor space has dropped in recent years, she noted, and this will continue as consumers shop more on the internet, with online sales forecast to reach £43bn by 2015, accounting for 14% of all retail sales. Some 22% of people did not buy their last item of clothing or accessories in store, and only 9% of customers want to see the full product range in shops.
(LB/GK)
High streets will be populated with coffee shops and internet kiosks, claim experts, as the boundaries between physical and virtual space become blurred.
The report, by Deloitte, says retailers will need to reduce the amount of property they have by 30/40% in order to stay competitive.
"The majority of UK retailers have simply got too many stores," said Silvia Rindone, a Director in the retail consulting practice at Deloitte and author of the Store of the Future report.
Total floor space has dropped in recent years, she noted, and this will continue as consumers shop more on the internet, with online sales forecast to reach £43bn by 2015, accounting for 14% of all retail sales. Some 22% of people did not buy their last item of clothing or accessories in store, and only 9% of customers want to see the full product range in shops.
(LB/GK)
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18 September 2002
Marks & Spencer make £3m store investment
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Marks & Spencer make £3m store investment
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