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Trade News Archive April 08 March 08 February 08 January 08
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28th April 2008
High street stores could decline in the face of online retailers
The continued success of online retailers could cause a marked drop in the number of high street stores, new research has revealed.
According to a study compiled by the Centre for Retail Research, entitled 'The Store of the Future 2012-2015', more than 28 per cent of retailers expect to have fewer stores on the high street during the next decade.
In addition, by 2012-2015 internet sales are expected to account for around 20 per cent of turnover.
Steve Perry, executive vice president of Visa Europe, the company that commissioned the research, claimed that the majority of the changes would be aimed at boosting consumer convenience.
"The critical role that converging technologies are going to play in shaping the retail space of the future is clear for all to see," he said.
Mr Perry added: "The study shows that while changes may occur over a relatively short time period, the Store of the Future is likely to be shaped by a range of technologies in the digital era, but all will have a common goal - to create greater convenience for the customer and in turn achieve stronger differentiation and business success for the retailer."
(c) 2008 Adfero Ltd
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