wwb comment
Editor’s comment ACCORDING TO THE LATEST FIGURES FROM IMRG, ONLINE RETAIL SHOWS FIRST SIGNS OF MATURING. COULD THE INTERNET BUBBLE BE ABOUT TO BURST?
I have to admit that, after months and months – years and years even – of consistent reports of booming online sales and steep growth for the ecommerce sector, this month’s report from etail analyst IMRG was an unexpected one. We have become so accustomed to hearing of the continued rise of online retail and its sheer never-ending potential, that it almost feels unfathomable that the ecommerce sector would ever become saturated and consumer demand for 24/7 shopping could somewhat dwindle. But IMRG warns that 2018 is going to be a tough year for online and multichannel players, with annual growth forecasts for this year hitting single digits at ‘just’ 9 per cent for the first time – against 12 per cent for 2017, which already underperformed on its forecast of 14 per cent. While the reasons for this slowdown are multiple and complex (you can read the full report on our website wwb-online.co) it does put the focus back onto bricks-and-mortar retail and offers a number of opportunities. I believe here is a chance for small, independent stores to shine and tap into consumers’ evident desire for a more personal and personalised shopping experience, in a great environment where from product mix through atmosphere to advice, knowledge and customer service, all boxes are ticked. And I’m not alone in this belief – industry insiders and commentators are predicting that 2018 will be a good year for small stores and independents with innovative concepts that can offer a serious alternative to the big brand names on the high street and online. But where does all this leave online retail? The market may be slowing down, but there’s no doubt that ecommerce has changed the retail landscape forever and, despite a slump, it will continue to evolve and develop, especially as mobile sales continue to surge, internet speeds are improving and the clickthrough experiences from social media and other sites are becoming ever more convenient, sleek and simple. Retailers of all sizes will have to continue to evolve, too, and invest in both their physical stores and the experience they offer, as well as their online presence. However, maybe 2018 will be the year that the balance between bricks and mortar and ecommerce will be somewhat restored.
Isabella Griffiths, Editor
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