The current situation on the high street is looking particularly bleak; Christmas sales are not what expected and bad weather is likely to deter those last minute shoppers from going outside to shop for their final gifts. Instead, many of them will go online.
A recent report conducted by the IAB, has revealed that if retailers do not develop an element of online presence in 2010 then by 2011, their future will be under threat.
Most shopping and retailers alike will be unsurprised to hear that almost 90% of all shoppers in the UK did some element of their Christmas shopping online; however, what they may be surprised to learn is that by 2011 over 40% of all recently formed companies in the retail sector will by online shops.
James O’Leary, founder online Tobay, comments: “Retailers need to understand that if the high street has any chance of surviving, it must go online. Refuse to accept this fact will ultimately lead to the collapse of shopping on the high street as we know it.”