The report discusses the challenges faced by the high street retailing business model in the UK, which have been exacerbated by the global recession. These challenges are due to changing customer behavior, the emergence of retail malls, and the growth of internet shopping. However, there are also promising growth opportunities for high-street retail due to changing customer needs and behavior. The report recommends that high-street retailers adapt to the new retail landscape by incorporating technology and building it into all customer touchpoints. This will enable both e-commerce and high street sales channels to complement each other, while the high street provides a unique and tailored customer experience that cannot be replicated online.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Definition
- High Street
- Retail
- Types and allocation of high-street retail in the UK
- Current challenges for traditional high-street retail:
- Shop closings due to Covid-19
- Footfall
- Rise in e-commerce
- tax regimes
- Growth opportunities for high-street retail:
- Reform of the corporate tax system and the introduction of an online sales tax
- Urbanisation
- Omnichannel - digital power of technology in-stores
- Recommendations: long-term approach to revitalise the high-street
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This report investigates the viability of the high-street retail model in the UK, taking into account the challenges presented by the rise of e-commerce and changing consumer behaviour. The report explores the reasons behind the decline of high streets and examines potential growth opportunities for high-street retail.
- The challenges faced by traditional high-street retail in the UK.
- The impact of COVID-19 on high-street retail.
- The growth of e-commerce and its implications for brick-and-mortar stores.
- The role of urbanisation and changing consumer behaviour in shaping the future of high streets.
- Recommendations for revitalizing the high-street retail model.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: The report introduces the research question: Is high-street retail still a viable business model? It also highlights the challenges faced by high streets in the UK, including the emergence of retail malls, the growth of internet shopping, and changing customer behaviour.
- Definition: The report provides definitions of "high street" and "retail" to clarify the scope of the research question.
- Types and allocation of high-street retail in the UK: This chapter provides an overview of different types of high-street retail stores in the UK and their distribution. It highlights the dominance of fashion retail and the importance of leisure and social activities in high streets.
- Current challenges for traditional high-street retail: This chapter examines the challenges faced by traditional high-street retail, including shop closures due to the COVID-19 pandemic, declining footfall, the rise of e-commerce, and tax regimes. It explores the impact of these factors on the deterioration of high streets.
- Growth opportunities for high-street retail: This chapter explores potential growth opportunities for high-street retail, including the reform of the corporate tax system, the introduction of an online sales tax, urbanisation, and the increasing importance of omnichannel strategies.
Schlüsselwörter (Keywords)
Key terms and concepts explored in the report include high-street retail, e-commerce, urbanisation, omnichannel strategies, consumer behaviour, COVID-19 impact, tax regimes, and business model revitalisation.
- Quote paper
- Anonym (Author), 2021, Adapting to the Changing Retail Landscape. Revitalizing the UK High Street, Munich, GRIN Verlag, https://www.grin.com/document/1348597
