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ckejyetf9k
Posted: Tue 12:05, 27 Aug 2013
Post subject: hollister outlet 6.6 Million Square Feet Of Sellin
The UK fashion industry is set to face a tumultuous year, according to a
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recent report from research specialist Conlumino. Despite a predicted growth that will see the industry hit a value of 7.9 billion by 2015, the on-going crisis that many UK high streets are
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currently experiencing will see at least 4,000 fashion retail close in that exact same time
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frame.
Subsequently, many fashion retailers are seeing a complete turnaround in their business with online
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sales dominating those
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achieved through their network of high street retail stores. With spend at physical retail stores only expected to increase by five per cent and with the cost of running stores expected to rise by approximately 10 per cent, only drastic cost savings can help retailers turn this dire situation around.
The research by Conlumino forecasts that in order for physical high street fashion stores to maintain acceptable levels of profitability, only the complete closure of 3,900 stories
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would help fashion retails hit the savings goal need to make physical fashion stores profitable.
But it is not all bad for the sector. According to Neil Saunders of Conlumino research its all about physical retail stores finding the right role in a multi-channel
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retail environment. Saunders view is that fashion retail is a much more complex process with consumers taking much longer to complete the buying process than ever before. Therefore, physical stores can play a definite role by acting more as point of contact with the brand
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or as more experiential brand enhancer. To that point a brands retail
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strategy should be focused more on added value rather than savings.
So its clear that for the
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fashion retail sector there are certainly troubles ahead. But regardless of the turbulent time, the
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sector should not allow the loss of physical retail space to overshadow the strong predicted growth. There may be a complete role reversal, with online sales set to eclipse those of physical high street sales, but it is still a positive. The focus is now on business leaders to ensure that the savings achieved through a bigger focus on online retail be balanced out across their ecosystem of online, mobile, physical and social media channels with greater synergy comes greater gains and its
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certainly clear that the fashion retail sector has the potential to do just that.
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