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Debate with the IPPR on the UK’s crisis in retailing

Associated Categories Retail and Financial Services Tags: , ,

In the wake of the announcement of up to 6,000 job losses at House of Fraser, the High Street should combat Amazon with automation and new physical sensations

The High Street faces challenges around where and how we buy, but the discussion about online competition, business rates and slow consumer expenditure misses the responsibility of retailers themselves to innovate. Investment in automating back office activity, and making innovative changes to ensure an interesting consumer experience, are vital if the High Street is to survive. Here James discusses the issue with Catherine Colebrook, chief economist at the Institute for Public Policy Research (IPPR).

Online stores like Amazon are very good for efficient online ordering for delivery, but lack a rewarding and enriching customer experience. James argues that shops are just not exciting enough: to beat Jeff Bezos, they need more tastes, smells, theatre, 3D printing, education, cinema and exhibitions. Wages will also have to rise, if the the consumer experience is to be improved through more responsive and knowledgeable staff.

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