Internet damaging 20,000 U.K. stores
The Internet has changed how we shop. More us shop online instead of in real stores. This is having terrible effects for traditional high-street stores in the U.K. A new report contains worrying statistics on the future of U.K. retailing. A CEO warns that 47 per cent of stores (20,000 shops) are "horribly stressed financially". He predicts a quarter will be gone in three years. The move away from traditional shops has also led to "ugly" town centres. The report explained the decline of Britain's downtown areas. Over 40,000 shops are empty. Stores have not met challenges from the Internet. Stores are being "nostalgic" and are stuck in the past, without looking at the future. They need fresh ideas to get customers back. Multinational companies are taking money away from local areas. It isn't difficult to keep local money in the local economy if people did not focus on big companies. |