July 2013
Featured in this insight: Consumer goods & FMCG , Financial services, Retail
Market research shows almost half of retailers would consider leaving the high street: A recent survey by Cybertill, retail software specialists, shows that almost half (47%) of retailers would consider leaving the high street. This survey follows a report by the Centre for Retail Research that warned that a fifth (20%) of shops could close within five years.
Results also show that around one in five retailers would consider moving premises to out-of-town locations, whilst more than a quarter (28%) were undecided. Reasons for moving to out-of-town locations included lower rents, free parking, better access for deliveries, more space and an environment that it better suited to multi-channel retail.
The main reason for not wanting to move to out-of-town locations was less passing trade.
Findings show that just fewer than half of all retailers plan to invest in e-commerce above that of any other sales channel, as opposed to that of only one in six retailers planning to invest in stores.
The importance of e-commerce was reflected in the fact that two fifths (40%) of respondents also sell on eBay, with more than one in five retailers selling online on Amazon.
Cybertill Chief Executive Ian Tomlinson said:
“The high street is struggling with many retailers complaining about excessive rent and rates. [And that] this survey clearly shows how retailers are focusing more online than ever before.”
View more of our sector specific insights: Consumer goods & FMCG, Financial services, Retail
