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COMMENT: High streets suffering their worst year on record

Following a report from BDO’s High Street Sales Tracker suggesting high streets are suffering their worst year on record as in-store sales declined 2.7 percent in September, Roger Bannister Timico’s business development manager, comments:

With retailers’ in-store sales suffering such drastic losses, they need to take action to avoid becoming the latest victims of the high street. One tactic they can employ is optimising digitalisation and new technologies in order to stay relevant and keep their competitive edge in an increasingly saturated market.

Consumers’ demands have changed – these days, most expect an immersive experience that is seamless and instantaneous – and companies must adopt more customer-centric business models accordingly. Responding to what customers want and need, by investing in transformational IT strategies that creates memorable shopping experiences, will help rebuild brand loyalty and reinvigorate the high street.

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