The collapse of Debenhams and Topshop owner Arcadia has put nearly 25,000 jobs at risk and triggered fears for the future of Britain's high streets. But the outlook of bricks-and-mortar is not all bleak, according to retail experts, who say companies need to end nostalgic sentiment and embrace the experience economy to create thriving town centres.
The coronavirus pandemic has undoubtedly changed how consumers purchase beauty products, switching from counters to e-commerce. Consultancy firm Mckinsey estimates that internationally online beauty shopping will grow by 20 to 30% in 2020. Sadly, the closure of non-essential stores has contributed to the loss of more than 158,000 jobs in UK retail this year (excluding Arcadia), reported the Centre of Retail Research.
But Britain's bricks-and-mortar has been
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- Companies:
- Debenhams
- Lush Cosmetics
- Arcadia Group Topshop Topman
- Walgreens Boots Alliance
- A S Watson
- Selfridges
- Harrods
- Harvey Nichols
- Deciem
- Content Beauty
- Seekology
- Outform
