The high street speeds up the most difficult Christmas period in the history of life, while traditional stores still struggle
- New figures show that spending at internet stores is still rising strongly
- Total spending on clothing online is up 10% per year and will be £ 18.3 billion
- Experts say that this trend creates a black hole in high street sales
Neil Craven, financial post on Sunday
Invested high street stores are braced for a cheeky festive trading season, as internet sales reach new heights and traditional stores struggle.
Dark clouds gather over the main street and are confronted with what the best retail sources are the most difficult Christmas ever. to mention.
It increases the prospect that more companies will administer House of Fraser and increase the pressure on Chancellor Philip Hammond to reduce the crippling tax burden on high street shops in the budget later this year.
Invested high street shops are braced for a brutal festive trading period, as internet sales reach new heights and traditional stores struggle to cope
New figures on The Mail on Sunday show that spending at internet stores is still rising – almost a quarter of all fashion and shoes purchased online at the end of this year.
Total spending on online clothing will increase by 10 percent per year and, according to the Mintel year, will be £ 18.3 billion by the end of the year, and will be comfortable at £ 20bn by 2019. Experts say that this creates a black hole in the high regions.
Clothing stores still dominate most city centers, but rapid growth at online fashion stores such as Asos, Boohoo and Missguided have forced an annual epidemic of discounts that decimates profits.
House of Fraser collapsed last month and John Lewis expects this week that the profits in the first half of the financial year have been wiped out by the rising online competition. It is now working on increasing online growth.
John Lewis is expected this week that the profit in the first half of the financial year is wiped out by the increasing online competition. It is now working on increasing online growth
Meanwhile, documents filed with Companies House by the Swedish clothing giant H & M have revealed that it also feels the pressure.
The profit from its UK sales of £ 1.1 billion in sales last year plummeted by a quarter to £ 37.3 million in what it described as a challenging retail environment.
A company chairman told The Mail on Sunday: & # 39; We have to be optimistic because there is everything to play for. But this year was difficult for many retailers and it would be naïve to believe that this is anything but the most difficult Christmas period that many of us can remember. & # 39;
Samantha Dover, a senior retail analyst at Mintel, who provided the online fashion figures, said: & # 39; Many store chains have struggled because there was an assumption that the internet would not have the impact it has.
& # 39; But pure online retailers such as Asos perform better because they are more willing to take risks, move faster and react faster to what people want. & # 39;