How to Tackle Our Changing High Street
July 31 2018
The high street is changing, so what can you do to keep up with the pace? Ellie Sanderson investigates…
Here is what Ellis Sanderson says about the high street changing
“I could honestly write a book on this subject, the evolution of the high street is not a new topic, nor is it one I haven’t talked about before. Retailers are struggling with the pace of change and with the trade.
The press is full of failures like Mothercare, Toys ’R Us and New Look - who are scaling back their operations, streamlining their store portfolios and seeking deals with landlords. The high street is under enormous strain and this applies to bridal too. But the high street is not dead and adopting an attitude of defeat would be a huge mistake. We see failure, but we also see success. We need to look at the success stories and learn.
Let’s take Mothercare who announced a further drop in sales with worldwide sales falling by 4.8% decrease. They continue to battle a series of challenges. They fired their MD and appointed another. They are now closing half of their property portfolio and will move from 150 shops to 70. Their branding feels dated. Their stores need investment and they seem to be operating more and more at the value end of the market. There was a day when they were THE most trusted place to buy your baby products and hardware from.
Along comes small and nimble companies like JoJo Maman Bebe. In their last financial year, they posted a 14% increase in like-for-like sales. They continue to grow and develop multichannel retailing and are giving their customers a true brand experience. Their shops are small and experiential. Their staff are well trained and trusted. They are a positive alternative for the millennial generation.”
To hear more from Ellie and how her insights apply to the Bridal retail sector, read the full story…View Full Story