It is tough, very, very tough in the market place for all businesses but particularly retail as we have seen through recent administrations that have been announced, even during the peek selling season for most retailers.
We are in the midst of a revolution in retail as it evolves from on the street to on line with click and collect taking a firm hold as more businesses move towards an on line model. This will not change but accelerate and there will be further household name casualties before Easter.
However, the High Street does not help itself. A well known mystery shopper reported that the shops are "full of cheap crap and there is little individuality" The sector is not giving the consumer the choice they crave. Then you have the subject of customer service - or rather the lack of it. Staff often seem to resent the customer and seem to only serve grudgingly with rarely a smile and so on. Frankly this is the choice of the management - they set the heartbeat of any business but seem to be equally disinterested. It is their responsibility to close skills gaps and eliminate skills shortages.
Fail to plan and you plan to fail is so true and I can see adverse weather conditions adding to the High Streets woes owing to a failure to have plans in place, even though many were materially effected less than 2 years ago. Cash flows will be screwed with dead stock having to be sold off cheap and probably at a loss.
British management, has a lot to answer for with even the simplest of planning requirements being ignored. It is rarely that business fail through bad luck but they do through bad management.
The Lawyers will prosper and the failed entrepreneurs preferred Christmas gift of the phoenix like prepack administration.
We all have choice and we are choosing to to go with the efficient delivery systems that are now allied to buying on line, including the Law.
Author: Chris Slay
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