The High Street - Then and now...

Recessions are always bad for business, but predictably when people are worried over job losses and generally have less money to spend, retail is always the sector that gets hit hardest. To be fair the High Street has not had the easiest of rides in the last decade or so. Soaring business rates and rents, alongside the birth of E-commerce has dramatically impacted Britain’s traditional retailers. Fortunately though, things may not quite as bad as they seem.

The one thing most Brands have in their favour is name recognition - this is often closely tied to consumer confidence and trust within a certain retailer and their services. Having already spent years building up fashion brands, clothing empires and electronic stores, most High Street stores are now ideally placed to take advantage of their notoriety by moving and diversifying into new online markets.

In order to survive in the ever-changing landscape, most retailers are now looking to take greater steps in order to secure solid customer bases. One example of a traditional retailer taking this big step into the brave new world of the web is Marks and Spencer’s. In recent years M&S has dropped its policy on not stocking named brands, such as Kellogg's and Heinz, realising that restricting customers to what they can and can't buy is no longer a feasible option in today's world of choice. M&S also recently expanded into the online flower market, a product for which they were not previously known for.

Boots, another well-known High Street store has also recently diversified into new markets. Within the last year or so Boots launched TreatStreet, an online shopping service offering consumers discount and voucher codes for a number of prominent electrical and fashion goods, as well as allowing advantage card customers to gain points by shopping and buying their favourite products through the site at no extra cost.

By diversifying and identifying new markets, retailers are no longer trapped within their traditional verticals, allowing them to grow and expand in the modern digital world. By using the internet and identifiable names, brands are able to reach a much wider audience than they previously did before, and this has enabled many to grow thriving ecommerce platforms.

Ecommerce is here and it’s likely here to stay for the foreseeable future. Having sensed which way the wind was blowing most High Street stores now have a serious vested interest in the net and online shopping. This has of course meant a great deal of financial investment from companies; some with only varying degrees of success and ROI.

As the market fluctuates and changes nearly daily, due to technology and search engine changes, companies must now stay on the absolute top of their game when the internet is concerned. This often involves a great deal of consultancy, strategy and technological know-how.

One thing is for certain and that’s the involvement of mobile and mobile technology. The inception of the smart phone and wireless internet has opened up a whole new avenue for online stores and retailers. Those that get ahead of the game and make it work will likely succeed and weather the storm, until something newer comes along. Those that don’t will get hit and get hit hard.

The author of this article is a part of a digital blogging team who work with brands and business like Boots.com - The content contained in this article is for information purposes only