There's a growing number of fashion retailers closing its doors in the UK, but what does this actually mean? Are we becoming conscientious about the negative impact of fast fashion?
Could this be the beginning of a much needed shift in the right direction, and slowdown of our relentless consumerism?
I'm afraid it's premature to jump to conclusions, however hopeful. Speaking to The Guardian newspaper, Patrick O’Brien, a retail analyst at GlobalData, said: “Clothing is where the shift to online is happening fastest. Over £7bn of sales have moved online in clothing and footwear in the last five years.”
The Business of Fashion reports the deepening of what it called the 'UK Retail Apocalypse': "Lisa Hooker, consumer markets leader at PwC, said that clothing retailers’ troubles reflected a shift in consumer preference for online shopping and at-home leisure, as well as a change in culture towards enjoying experiences rather than buying products."
The switch to online shopping is not surprising, more and more we tend to do everything online, it's convenient and less time consuming. What I find interesting is how people prefer to invest in experiences rather than go shopping.
Some retailers are actually stepping up their game by offering experiences in store beyond DJs and champagne, such as Selfridges' the bowl skate sessions.
Wallpaper magazine wrote this summer about '11 high-concept stores around the globe worth travelling for', listing top Instagramable concept stores around the world.
In any case, it's clear consumers lead the way and rightfully so. It would be great to end high street shopping as it is today, no more loud music, endless rails of bad quality clothing and appalling customer service!
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