Retail Outlook 2014Digital Manager
Following a challenging Christmas period after a year of significant change in the retail industry, a recent survey of retail chairmen (including the likes of Robert Swannell of Marks and Spencer and Sir John Peace at Burberry), reveals three-quarters are optimistic about the economy. 73% said they are optimistic about the outlook for this year, compared to just 15% last year. However, the majority still felt business rates need to be reformed urgently to give the retail sector an extra boost.
2014 is also expected to see a further increase in online retail sales, building on the record growth in this area in 2013. This is predicted to be accompanied by a further increase in retail sales via mobile devices after 2013 became the ‘year of the mobile’ when retail sales via mobile devices increased by 138%. Even 25% of purchases made in store at the end of 2013, were as part of ‘click and collect’ services.
Further reports claim that “pockets of gold” are set to emerge this year on Britain’s under-pressure high streets as retailers are choosing selective locations to open new stores and create a wider leisure offer to drive store strategy this year.
Key locations for 2014 will include Bath, Brighton, Winchester but also Brighton, Oxford, Colchester and Edinburgh according to reports from Jones Lang LaSalle. Overall, this year is set to be a year of substantial change, not just in how we shop, but also where we shop.
Liz Ashcroft, Account Executive