Page 16 - AeM_October_2019

RESEARCH, ANALYSIS & TRENDS

Brands must migrate to digital platforms as

stores continue to lose share, says GlobalData

Migration to digital platforms is proving to be the way to The group, as a whole, has also previously said it is
go for apparel brands and retailers as more and more revising down the number of stores it plans to open this
consumers move away from shopping in physical stores, year as it looks to cater to customers' "changed
writes GlobalData. shopping patterns," namely, bolstering its online
presence.
Hannah Abdulla, Apparel Correspondent at GlobalData, Abdulla continues: "We've watched the high street
says: "The high street continues to suffer a loss of giants tumble; House of Fraser, Debenhams and now
footfall as more and more consumers shift to online even John Lewis. Even ones that target younger
shopping – a large part of which is due to the greater shoppers – Arcadia Group's Topshop, for example, are
choice and convenience it offers." struggling as shoppers take their business online. That
shift is only set to become more apparent as the
Retailers are looking at embracing this shift in consumer incoming generations become more tech-savvy and
trends, such as H&M which has said it will focus more on time-poor.
online expansion for its new outlet brand Afound, and
less on physical store expansion. The business “Retailers and brands must sharpen up their online
launched in 2018 and sells marked-down clothes from offering and reconsider their options for
some external labels as well as the H&M group's own underperforming physical stores if they plan on staying
brands. Operating from stores and online in Sweden, the in the game." ◊
retailer says that following its first year of trading it has
witnessed, in general, that customers prefer shopping By MediaBUZZ
online.

16 October 2019 - Micro-moments & Customer Journey