Reviving the High Street
140,000 in Britain high street employees lost their jobs last year. A sad, depressing movie with no light of hope or a bright future ahead.
Now the question arises how and why did that happen?
If we look towards the brighter side of Britain, we could see that the boom in online business is capturing the entire grocery market. This is a revolution that is leading to the major downfall of the High Street. The rate of online shopping is gradually increasing and it is indirectly forcing all the physical retail stores to either shut down or introduce different services to provide convenience and engage the shoppers.
Reviving of the High Street:
The High Street still does generate traffic. The High Street is facing hard times but it is pretty unrealistic to even think that High Street shopping will be a thing of the past. Though it took time for the store managers to begin to analyse consumer behaviour in greater depth, many stores are now working endlessly to provide convenience through benefits such as same-day delivery from their brick and mortar stores.
One thing to always keep in mind is that the elderly prefer to visit High Street for their shopping. That is why High Street is relatively a slow learner when it comes to digitalization and technology. The shoppers need time to sit and then make a decision unlike other Brick and Mortal retail stores where shoppers find quick and grab and go solutions. However, the concept of same-day delivery from High Street stores can provide a high level of convenience to many around the country.
High Street is Still Providing Satisfaction:
Several shoppers still prefer offline stores rather than online stores. Though the level of engagement through online stores is high, still it is considered that offline stores are the backbone. Still, there are shoppers in abundance who prefer to shop in physical retail stores due to engagement with human-beings and the ability to feel products in their physical form. People might use online stores to know about the availability and other information about the product to have an idea, but when it's about feeling/trying - physical stores have the edge.
Ultimately, innovation and playing to its strengths will save the high street.