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My 1,000
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The Internet has changed the of the way we shop. More and more of us are shopping online of in "bricks and mortar" stores. In the United Kingdom, this is having consequences for the traditional high-street store. A business leader has released a containing statistics on the future of U.K. retailing. CEO Bill Grimsey warns that 47 per cent of Britain's chain stores are "horribly financially". This amounts to some 20,000 shops. He predicts a of these will be out of business within the next three years. Mr Grimsey has also said that the demise of traditional shopping streets has led to what he as "ugly" town centres.

Mr Grimsey provided a of reasons for the degeneration of Britain's downtown . Over 40,000 of Britain's shops are empty; eleven per cent of all retail space. Grimsey said many stores have not risen to meet the challenge posed by the Internet. He said that than looking to the future, and at innovative ideas to lure customers back, many stores are stuck in the past. In particular, he said companies were too "". Another is that multinational companies are draining local areas of money. He said: "It is not difficult to keep money within the local , but it doesn’t work if…we are listening too much to big firms."

 
 

 

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