Fast fashion has been on a steady climb this year and it’s inevitable that it’ll expand even further. Buyers are now favouring the convince of online shopping, not only for clothes but for food and more. With big businesses catering to our needs, offering everything at the click of a button and next day delivery subscriptions, retailers are beginning to suffer.
High-streets have suffered most, with the result of 85,000 jobs lost in the past year. Large retailers are now having to close stores around the UK leaving Britains high-streets in a state of panic. In Cheltenham, the high-street has been expanding over the last year with the addition of the Brewery Quarter and John Lewis. However, even though people are flocking to the new stores and leisure activities, the town still contains eight per cent of empty retail units.
So, why is there still a decline? Consumers shopping habits have been changing abruptly in the past year with the rise of sport and health clubs opening, alongside specialist stores e.g. vaping. As consumers we are slowly becoming aware of our over indulging tendencies and the impact our shopping has on the environment. Slowly, people will lean towards eco friendly clothing companies and stray away from fast fashion websites. But whilst we still favour fast fashion, we value convenience over eco-friendly.
With Black Friday around the corner, online figures are set to rise. Better deals are found online and it saves the hassle of fighting your way through the crowds to find those sought out for deals. Whilst high-street stores may be struggling, shopping events like these may save companies and gain frequent visitors to the site or store itself.
Not only is there a change in our shopping habits adding to the decline of high street stores, but there has been a shift in our lifestyles. With the festive season around the corner and people working longer hours, consumers will be turning to online shopping to fit their busy schedules. 70% of people already use online shopping over visiting their local high-street stores and the figure is most likely to rise during the run up to Christmas. With companies such as amazon offering next day delivery subscriptions, there is a possibility that high-streets across the UK may suffer this year. So where will you be doing your Christmas shopping?