Glasgow Business . 41
www.glasgowchamberofcommerce.com With NFC, a two-way
communication is possible, meaning that payments can be made electronically, but it is mainly used to transmit set information to a smartphone or tablet. RFID is used in a similar way to transmit information to a reader (which many phones double as). Market research experts
at
econsultancy.com reported that major high-end retailer Burberry uses RFID technology in its flagship store in London to give consumers a pleasant surprise when they try on a garment. Because their chosen item has an RFID tag fited, the changing room mirror doubles as a TV screen on which a short video of the making of the piece is played. Burberry is just one brand
that has, in Dr McColl’s opinion, “got it right”. Others she hails include John Lewis, Mango and Next. It’s a very exciting
time for innovation, but what impact is this online growth having on the in-store
checkouts and the future shopping experience? Dr McColl added: “In fashion
retail, online sales are growing faster than in-store. “It is a rapid and significant
growth while store-based sales are in decline, but only a small per cent (approximately 10 per cent) of turnover is online sales. “However, this will continue to
increase so when will fashion retailers rationalise their stores? I think in the future we will see a change on the high street. We will see fewer fashion retailers and convenience stores. Instead, we are seeing an increase in cafes, banks, supermarket-owned convenience stores and bookies as fashion stores rationalise and move towards the busiest centres of
commerce.
“But there will always be fashion stores because people enjoy the shopping experience so much.”
Retail facts and figures
» 90 per cent of all retail purchases are still done in physical stores, while 95 per cent of purchases are related to a physical store i.e. ordered online after being ‘tried or tested’ in an actual store, according to research by consulting firm A.T. Kearney
» UK retailing has the highest proportion of online retail sales, says Retail Research
» Shops in Glasgow’s city centre generate around £2.4 billion a year turnover, says Glasgow Economic Partnership
» Glasgow is the number two retail destination, outside London
» In the UK, there are approximately 286,000 retail stores – in Glasgow alone, there are more than 1,500 retail outlets
» Retail Futures 2018 predicts that in the next four years, the total number of retail stores in the UK will drop to 220,000, as the share
of online retail sales increases
» There are around 34 smaller town centres around Glasgow serving customers on the outskirts and surrounding areas of the city
» 86 per cent of retail businesses in the UK have fewer than 10 employees
» Despite people fearing for the future of retail stores, a growth in retail employment is predicted by Skillsmart Retail research. They say by 2017, the number of retail employees will have increased by 6 per cent since 2007
» The growth of online retail shopping will continue. Food had an online share of 3.7 per cent in 2012, and this is expected to increase to 9.5 per cent in 2018, while non-food items had an online share of 19.2 per cent in 2012, and this is predicted to jump to 21.5 per cent in 2018, reports Retail Research.
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