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Retail is NOT dead
Written on: 13 July 2011
Success as well as failure in the High Street...
Many commentators over the past fortnight or so have used
the fall from grace of the latest retailers to have faced the
administration process to declare that perhaps there is worse to
come and that maybe retail really is dying.
But the truth is it never will. Consumerism and need will always
drive a requirement for bricks and mortars stores and for every sad
story of failure on the UK's high streets there is equally one of
success. It may be tales of new retailers emerging or strengthening
their positions in such a time of crisis such as the gap and
opportunities the likes of Boux Avenue have seen to launch a new
concept or the expansion plans of other specialist retailers as
rapidly expanding jewellery business Pandora.
The truth is strong retailers will survive and as with any species
or any sector the weaker will fall by the wayside and die if they
fail to evolve with their customers or peers. Those that are
succeeding are those retailers such as John Lewis that have moved
on, defined exactly what their offer is and what it is their
customers want and then consistently delivered it to them while
continuing to listen, grow and evolve some more. Those that fail
are those that lose sight of such requirements or who dare to think
that perhaps they know better than the demands of the customers
they serve.
And while it may be a sad state of affairs to see empty units in
our high streets or shopping centres it also continues to provide
the opportunity the retail sector has always needed - the chance
for fresh blood and ideas and for new or emerging retailers to grow
and thrive having learnt from the lessons of those that came before
then. For this reason the demise of any retailer is a sad state of
affairs but equally provides rich opportunities for the future. It
is up to such emerging retailers, landlords and indeed customers to
help such foundling businesses grow into the retail giants of
tomorrow and to keep retail truly alive and kicking.