It is no surprise that the retail sector is undergoing a drastic transformation. With the
introduction of e-commerce and changing consumer needs, the high street is
having to rival with online stores that keep evolving. Moreover, social media
platforms are implementing several strategies to help digital merchants.
Following this, household retailers are having a hard time to remain the
shoppers’ destination and the high streets in the UK are almost emptied out.
However, according to some experts, the high street is not dead, but it needs a good push from a leader. It
is predicted that bricks and mortars will be redefining themselves in a few
years’ time. Physical stores are going to implement new solutions so that
customers visit shops not just to buy products but also for the experiences.
Important parts of this transformation are small and independent businesses.
Since people go to the high street to feel a sense of belonging, these
retailers will become the ‘nuts and bolts’ of local communities.
How is this change going to happen? Authorities have already
taken a step towards helping these merchants. One example is the pledges outlined
in the SME
Finance Charter. However, with 2020 predicted as the most turbulent
year for the retail sector, local councils and authorities must support small
shops to ensure their success.
Small
businesses can offer a sense of belonging
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