Traditional chains were already struggling with the rise of online before a weaker pound began squeezing sales further
A Primark store in London, the UK. Picture: BLOOMBERG/HOLLIE ADAMS
Still, there are bright spots. Here are a few UK retailers who’ve managed to thrive during the apocalypse. We asked top executives to explain their success:The 155-year-old clothing chain is that rare breed: a bricks-and-mortar brand that has successfully transitioned to e-commerce. Next’s online business had sales of almost £2bn in 2018, and the company’s shares have surged 67% in 2019.
“The thing about retail is, it isn’t a business where you need to take big decisions,” Wolfson said in a September interview. “You take small decisions, try things and then maximise the opportunities they present.”Owned by Associated British Foods, the discount clothing chain defies the theory that retailers must shift to e-commerce to succeed. Primark doesn’t sell online because it doesn’t charge enough for its clothing to justify the cost, according to AB Foods finance director John Bason.
More than two-thirds of sales now come from stores. Hotel Chocolat focuses on product innovation and events to lure shoppers, such as the evening chocolate masterclasses, or “lock-ins”, offered at 60 different sites. Like online-delivery services, Greggs is benefiting from changing eating habits as time-pressed Britons cook less and grab food on the go. Greggs has been transforming itself for the last six years into a takeout business focused on airports, train stations and business areas after previously relying on the high street — the British term for the main shopping district. It’s also partnered with Just Eat and Deliveroo, and extended a “click and collect” pilot to seven UK cities.
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