UK: Online shopping renders traditional commerce space obsolete

Tuesday 27 May 2014 00:40 CET | News

A quarter of all shopping space in UK is considered obsolete, as online shopping gains popularity, according to online media outlet

Chris Grigg, chief executive of property investment company British Land, reported that there is a possibility for street shops to gradually disappear, becoming more marginal with years to come. However, modern shopping centres and retail parks are expected to thrive.

Grigg commented that brick-and-mortar shops can still provide a benefit over ecommerce stores. He also mentioned that, in what concerns returns, if people physically bring back an item, they are likely to buy something else, whereas if they are returning via post office they don’t necessarily do that.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: online shopping, UK, traditional commerce space, ecommerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

Industry Events