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The Internet is Helping the High Street
Listed under: News
Published: Wednesday, July 20, 2011
With the number of high street casualties increasing at an alarming rate, the industry is suffering the effects, as more household names fall victim to the tough conditions being experienced by retailers.
The first half of 2011 has already seen 26 businesses forced to close it doors for good; a number which already eclipses the number which fell during the whole of 2010.
While the high street continues to struggle, it is a stark contrast to what's happening in the e-commerce sector.
According to the new retail figures released from the Office for National Statistics, online sales are going from strength to strength as more people log on to grab a bargain.
Online sales for the first six months of the year have totalled a whopping £31.5bn, 19% more than the same period last year.
Although internet shopping has long been blamed for driving business away from the high street, researchers have found that local shops are fighting back by using the internet not just to sell their products but also to round up publicity.
According to the American Express Spendsetters Report, more people are using social networks to seek out the best independent businesses in their area.
Jeremy Baker, of the ESCP Europe Business School, said that the internet has 'strengthened consumer power, with shoppers having an immediate impact on how their local shops buy, source and showcase products'.
The report also highlighted that nearly of half of those questioned were more inclined to shop locally and support their local retailers, with 32% claiming that they buy 'everyday purchases' from a local store.
If you haven't already nailed your website, or dabbled with social media, you could be missing out on some crucial online traffic to come your way.
Check out the next issue of Craft Business to see how the latest figures from the British Retail Consortium are affecting retailers in this tough climate.
While the high street continues to struggle, it is a stark contrast to what's happening in the e-commerce sector.
According to the new retail figures released from the Office for National Statistics, online sales are going from strength to strength as more people log on to grab a bargain.
Online sales for the first six months of the year have totalled a whopping £31.5bn, 19% more than the same period last year.
Although internet shopping has long been blamed for driving business away from the high street, researchers have found that local shops are fighting back by using the internet not just to sell their products but also to round up publicity.
According to the American Express Spendsetters Report, more people are using social networks to seek out the best independent businesses in their area.
Jeremy Baker, of the ESCP Europe Business School, said that the internet has 'strengthened consumer power, with shoppers having an immediate impact on how their local shops buy, source and showcase products'.
The report also highlighted that nearly of half of those questioned were more inclined to shop locally and support their local retailers, with 32% claiming that they buy 'everyday purchases' from a local store.
If you haven't already nailed your website, or dabbled with social media, you could be missing out on some crucial online traffic to come your way.
Check out the next issue of Craft Business to see how the latest figures from the British Retail Consortium are affecting retailers in this tough climate.
