Why Are Shops Closing and More People Turning To Online Stores?

Why Retail Companies Are Closing

Online shopping is a fast-growing business, with predictions of retail stores doubling its share by 2028. My generation were fortunate enough to grow up with the Internet, and as time goes on, more and more people are being born into a technological world. Whilst my older relatives would much rather go to the high street to purchase goods as they have no comprehension of technology, their age and disabilities don't allow them to do so, as is the case for many older people around the world, meaning that the main sector of people who are keeping the retail businesses alive, are now too relying on delivery services of online stores to buy. There's not a year that goes by that a large retail name of some sort closes up in local towns or globally. It seems it is a survival of the fittest, won only by those developing with the times by having an online presence, or continuing to lure people in with competitive prices and quality goods.

In Britain during the first six months of this year, 16 stores a day were closing, that's 1,234 more stores closing than opening throughout the whole period. The impact of this is not only for the businesses, but the people that work there too, over 57,000 less employees were taken on than the year before, which is a huge amount, and definitely contributes to the struggle of many to find a job. Even with a successful online presence, stores are still struggling to keep their doors open, and jobs available particularly as technology is adapting and changing every single day, and the businesses are expected to keep up with that. Online stores like Amazon are an exact example as to how important online presence is, I have personally never seen a retail Amazon store on the street, yet it is the highest grossing company in the world to date. There are many jobs available behind the scenes to aid the process, seems like a win-win for both employer and employee.

It is said more than half of the UK population now shops online, the highest demographic being 20-30 year olds, leaving little choice for high street stores but to move online or risk losing it all. With ever-changing shopping habits, it seems that this is only the beginning of a totally online world.