Retail Today and in the Future
2 April 2015 |
James Roper, Chairman and Founder
Interactive Media in Retail Group
- High street is losing the competition
- Luxury products remain one of the strongest areas for the high street
- Recently one third of high street shops have disappeare
The biggest challenge for the retail sector are the rapidly changing technology and customer behaviour.
What are the biggest challenges today for retailers? Can the high street compete with the comfort, price and speed offered by online retailers? Do we need shops at all? James Roper, Chairman and Founder of IMRG shares 30 years of experience and some provocative questions about the rapidly changing landscape of retail. In his view high street trade is seriously challenged by the evolving technology and the changing attitude of shoppers.
Roper believes that the high street has better chances in the luxury sector. He says that customer experience is key whether buyers purchase online or visit shopping malls, however, the face-to-face discourse is more important in luxury retail than in any other area.
… I’ve been asking myself during the last 30 years: do we need shops?
But even this is not changing anything and the fundamental question remains with us: why do we need shops?
Business Reporter in association with Retail Week has produced a series of interviews in The Telegraph Studio. Thought leaders of the market are discussing how to engage customers, acquire new clients, upsell and build trust. These interviews discuss the evolution of technology in the service of high street and online retailers.