Gifts
Gifts
Gifts
The great British high street has undergone many transformations over the years. Once the anchor of the entire country’s economy, numerous factors over the past decade has seen footfall decline dramatically with our high street stores quieter than ever.
As a leading supplier of gifts online, we’ve noticed more than most the changes on our high street, but has it changed forever? In this blog post, we share the key changes over the past decade and peer ahead at what the future of the high street could look like.
Even before the Covid-19 pandemic took root, the decline of the high street was evident. The rise and rise of online shopping showed no sign of slowing over the past decade. According to the report by the Office for National Statistics, even back in 2019, 82% of users shopped online. This figure has grown from 53% in 2008.
The increased popularity of online shopping has meant that there were 2,868 store closures in 2019, compared with 1,634 store openings.
Pre-Covid online shopping was often seen as a minefield by many vigilant high street shoppers. The prospect of not seeing the quality of a product in real life and the questionable reputation of online outlets meant many still preferred to shop in person. The Covid-19 pandemic however provided the chance online businesses needed to take a confident step ahead of bricks and mortar stores.
The Covid-19 pandemic and the many subsequent lockdowns meant consumers no longer had the option to shop in-store. Online businesses upped their games to impress new and existing customers with their quick and convenient deliveries, easy to browse products, and wider choice, and that stuck, even as restrictions lifted.
As the pandemic raged on, many traditional bricks and mortar stores had to rethink their business plans to survive. Most moved their offering online to continue to serve their customers in the face of lockdowns and other restrictions.
Post-lockdown many companies have gone onto abandon their high street stores in favour of more cost effective, convenient online operations, which has led to many more closures.
With some of the oldest and most established brands moving entirely online or shutting shop for good, the future doesn’t look bright for our high streets. But could now be the time for transformation? Many retail experts, including ourselves, think so!
With remote working remaining a reality across many organisations, the demand for coworking spaces has risen exponentially. These flexible office environments need a home, and with their great locations and easy accessibility, our high streets could be suitable candidates.
Vacant high street shops could also be the answer to the UK’s never-ending housing crisis. On that note, all we can say is – watch this space!