This topic contains 1 reply, has 1 voice, and was last updated by Anonymous 7 years, 7 months ago.
- January 11, 2013 at 9:10 am #32207
Retail in 2013
2012 was a shaky year for many retailers with even the largest supermarkets feeling the pinch. In early December Tescoâ€™s bosses announced disappointing figures and issued a profit warning for the first time in 20 years.
In January 2012 shares in Tesco collapsed by 16%, J Sainsbury by 5.4%, and Wm Morrison by 6%.
The fact that Tesco could struggle during the crucial pre-Christmas period set alarm bells ringing and 2012 turned out to be a cruel year for many retailers.
According to Deloitte, 194 retailers buckled into administration during last year. As well as these costing thousands of jobs the high street lost a number of its most well-known names, including JJB Sports, Comet and now Jessops.
Some of the early signs for 2013, however, are promising. Next and John Lewis, two of the biggest retailers, have announced that sales improved compared with last year.
However, while Next and John Lewis are useful barometers for the high street, they are among its most hard-wearing brands.
As for the most famous name on the high street and the countryâ€™s major fashion retailer, Marks & Spencer, pre-Christmas performance is yet to be reported.
Online shopping reached new levels of significance for retailers at Christmas due to developing mobile phone technology and internet use.
Next says internet shopping now accounts for at least a quarter of all its sales, and Kantar data reveals online fashion sales grew by 18% in November, compared to 7% in 2011.
However, the rise of online sales is causing a dilemma for many as they plan how to move forward. Big retailers such as HMV and Argos are battling to get used to the new online world and endure. But in food, figures for this Christmas could also demonstrate that the internet is draining sales out of conventional shops and shopping habits are changing rapidly.February 15, 2013 at 1:45 pm #35062
With stores like HMV and Jessops closing, it’s not looking great. I’m sure there are many opportunities opening though, as things can’t really keep on getting worse.
I suppose there are also many retail stores that are thriving during this time, and I have heard that job vacancies are expected to grow this year.
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