The Future of the High Street

25 Jan
The demise of the high street

A changing landscape

Demise of Retail Giants is a Salutary Tale for Businesses Everywhere

Retail giants like Comet, Jessops, Blockbuster and HMV have gone into administration and they will be followed by many more.

Survival of the fittest

A leading Retail Consultant on BBC2 recently commented that the reason for so many business failures in the sector, was “nothing to do with Decline as many would have us believe, but everything to do with Evolution”.  Survival of the fittest is a misnomer for Darwinian principles. The species that survive are not always the strongest, but they are always the most adaptable. Comet, HMV & Jessops failed to adapt to a fast-changing environment and paid the ultimate price.

Could it happen to you?

Their demise has become a case study for executives everywhere, begging the question could it happen to your company?  Business models are fundamentally changing, while most businesses continue on blindly as though it’s ok to continue like it’s business as usual.  Businesses are staring down the barrel of disruptive technologies, which are not only coming but have already arrived. All executives and business managers have a responsibility to ensure their business is prepared to not only ride, but rapidly embrace and profit from the changes.

Sherril Soliman

Follow Sherril on Twitter or Google+

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