With a constant stream of retail company voluntary arrangements (CVA's) we have been witnessing recently, changes in leadership goes with the territory which we're seeing as a wider trend too. There is clearly an uncertainty from retailers in terms of how to drive forward a clear brand strategy.
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As customers we now have the convenience to shop, bank and live our lives online and this will not change, therefore shopping centres, town centres and high streets are each facing their own pressures from the radical changes. In this post we're exploring the opportunities for traditional shopping centres, as in the past they easily attracted well-known retailers and are now struggling to retain businesses and keep the consumer interested; these centres cannot fail as they are the core of activity in many towns.
In the past decade shopping habits have changed immeasurably as we're all too aware of; the latest high street casualties becoming a regular weekly headline. Last week we discovered that Toys R Us and Maplin were two further retailers to be leaving the high street and joining the growing number that have already joined the retail graveyard. All of these companies have something in common, the fact that they have not developed their online presence and refurbished their stores to enhance the customer experience and expectations.
There isn't a day that goes by without hearing about businesses revising their retail strategies and making difficult decisions relating to their business models. Although…