This time of year sees the last quarter of 2017 retail figures coming in. Throughout 2017 high street sales were falling at their fastest rate since the height of the recession in 2009.
The UK retail sector employs around 3 million people, but large store groups are slashing jobs and working hours as shoppers batten down the hatches and sales move online. There was a “record” reduction in retail jobs in the last quarter, according to the British Retail Consortium, with the number of hours worked in retail down by 4.2% and the total number of store workers falling by 3%.
Having been in menswear retail for nearly 30 years paying high rents and rates in the affluent Chichester area, 10 years ago I decided to move to the dark side, give up my ‘bricks and mortar’ shop and learn the ways of selling online.
Over the last 5 years ecommerce has had a huge growth but predictions are by 2021 a decline in the rate of growth for online sales. This is expected to decline from 11% to 7% pushing more of the internet sellers to make a u turn and take on smaller pop up shops for a personal touch and brand awareness, thus giving more of a competitive edge, where competition is so fierce online.
Its tough in the world of business right now, but at Discount Brands UK we are constantly sourcing the best of designer clothing brands and luxury cosmetics for you, at over 60% off RRP, watch this space, you never know, we may open a pop up shop in Chichester yet!
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