The Future of Retail: Shops remain part of the mix

RETAILERS are reshaping, but not abandoning, their bricks and mortar presence as they respond to the changing expectations of consumers, according to experts.

While significant emphasis has been put on the impact of the squeeze on consumer spending, sector analysts argue the last few years have only served to expose what was already becoming an unsustainable position for many retailers.

“When the downturn arose in 2008 it exposed the position that there were too many retailers competing for too little space. In conjunction with considering their multi-channel offering, retailers have been forced to consider the need to reduce store numbers,” says Andrew Coticelli, consumer business director for Deloitte in Leeds.

[VIDEO: 524]The future of the retail sector is considered in detail in a new free 19-page supplement, available to download here, from TheBusinessDesk.com in partnership with Deloitte and DWF.

Retailers are reconsidering how they use their high street presence as part of their “multi-channel” offering – both stores and online – which involves reviewing both how consumers use their shops and their location.

For Duncan Vaughan, corporate and commercial and retail expert at DWF, convenience is one of the major drivers dictating strategy.

“Compare and contrast high street retail with out-of-town or online where there is convenient free parking and a full range available compared with a more
limited range.”

Click here to download our new supplement, The Future of Retail.