High Street losing battle with online shopping

busyhighstreet_72872342.jpg

Town and city centre footfall drops 26% but click-and-collect soars.

High Street retailers are losing the battle for footfall and sales against a burgeoning click-and-collect culture, according to a new report by IMRG.

The study, titled ‘A Tale of Two City Centres’, discovered that town and city centre footfall plummeted 26% between 2007 and 2013, while all non-food retail growth since 2001 took place online.

To add insult to injury, IMRG estimated that 25,000 High Street stores closed between 2000 and 2011, falling prey to big online retailers with the best selection and prices.

Story continues below
Advertisement

IMRG’s report also found that a third of all online sales happen after 6pm. Additionally, national retailers such as Argos and Tesco Direct see over half of online orders collected in store, highlighting the importance of click-and-collect.

21% of all UK retail is now being conducted online, but the report suggests bricks-and-mortar retailers can capitalise on click-and-collect customers by tempting them with more product once in-store.

In Q1 2014, over 27% of online sales took place on tablet devices, proving that e-retailers need to ensure their services are available across all channels.

 

The report’s author, independent multi-channel retail consultant Chris Jones, explained: “The relationship between e-commerce and bricks-and-mortar stores is all too often painted as a kind of zero-sum game. However today’s consumers want online and offline channels to collaborate, not compete, to deliver the ‘always open, always available, always informed’ shopping experience they expect.

"What’s particularly challenging for retailers trying to meet this need is the ever-increasing pace at which best-practice has to be re-invented to adjust to this new consumer expectation. This report highlights the key challenges and, making particular use of IMRG’s extensive database of stats and facts, shows why they matter."

Authors

*

Related posts

Top