High street retailers desperate for turnaround

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Retailers seek to increase e-commerce trading to solve crisis.

Retail figures from the Office of National Statistics have shown that the number of high street casualties is continuing to rise as more household names fall victim to tough retail conditions.

The recent report has shown profit warnings issued by British retailers are at alarming levels. The 26 issued in the first half of 2011 already eclipse the numbers seen during the whole of 2010.

This month’s retail sales figures from the Office for National Statistics will be closely watched for signs of optimism in what is currently an underwhelming sector. The gloomy picture on the high street is a stark contrast to e-commerce. The Interative Media in Retail Group have said that online sales for the first six months of the year totalled £31.5bn, 19% more than the same period last year.

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Martec International reports that major retailers have increased investment in e-commerce and m-commerce – for mobile phones – by 23% this year, with a number of innovations such as online social shopping, through Facebook and social networks, coming to the fore.
 

 

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