Another week, and another High Street name closing stores.
This week, we have New Look. In a radical revamp – upto 100 stores will close.
Why? Like I’ve mentioned before…. our shopping habits are changing. There’s so many uncertainties. Brexit. Etc….
So what next, Bal?
Great question! – I see the whole High Street changing. There’ll be more closures and more well known names disappearing from the High Street.
When it comes to clothes – we’ve traditionally gone out to shop. Because we need to touch, feel and try.
Comparing clothing to electrical – online sales are not has great. But that’ll fast change. How?…. let’s just look to Amazon and what they’re doing.
Yep, they’re offering a ‘try before you buy’ service.
Select a number of clothes…. sizes, colours, etc… have them sent to your home. Try them… see how they feel – like them? Keep them (and obviously pay) don’t like them? – return them free of charge.
Simple? Off course! That’s what makes it so easy.
Jackie, a mum of 3 boys – who’s always running around and very busy, doesn’t have time to go into shops, try various clothes…. instead, would rather be able to try the clothes on – when she wants and where she wants (on the basis she knows where the kids are – on which some occasions is a challenge on its own).
Amazon started selling clothes 10 years ago and is only recently pushing more into this space. Without doing much, they have a 4.6% market share. Just behind M&S online clothing.
Next is in the lead, with 12.5% of market share. You also then have John Lewis, ASOS and eBay.
So can Amazon gain more market share?
I think Yes. They’ve got the power and the ability to make it a success. We’re ordering more and more varieties from Amazon, from baked beans (yes, you can buy them) to garden furniture. Why not throw a cardigan in the basket as well.
Reminds me of the time I went to Tesco to buy some milk and bought a TV. I did that in a physical store about 6 years ago. Looks like now is the time I would buy some socks with my books from Amazon.