Credit crunch driving customers online.
admin August 14th, 2008
We are consistently hearing about high street retailers suffering significant losses. The British Retail Consortium (BRC) and KPMG said retail sales values were down 0.9 per cent on a like-for-like basis compared with the previous July, meaning sales have now fallen in four of the past five months. Take for instance high street giants Marks and Spencer’s, it was reported in July that the company had in fact suffered substantial losses, with a £1 billion slump in sales which equated to a 5.3 % drop in sales.
Marks and Spencer’s, along with many other high street retailers and industry experts, are stating the correlating factor for the decline of high street sales is the credit crunch. As prices for foods and consumer items are increasing we the consumer are concentrating on value and durability; and where the consumer is of course finding it is online. All of our favourite high street shops can be found online, however, unlike the high street in the digital world online boutiques and smaller retailers are performing well.
It makes perfect sense to ‘open shop’ online rather than on the high street, if you start off small you are immediately cutting out overheads associated with opening a shop. An online retailer is also reaching a wider market, and with the help of search engine optimisation and online marketing targeting consumers is easier and more cost efficient.
We at 360innovate have definitely noticed an increase in the number of clients requesting online retail sites; ranging from clothing to pharmacy websites. An ecommerce shopping cart combined with SEO gives our customers business’ an excellent starting point. We always strive to deliver a high level of product and at the forefront of our designers minds is potential customers and the usability of the site, the main aim being to provide a website that customers can use with ease and which provide a greater experience than on the high street.
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