Visiting Camberley and its shopping Mall this week, I passed three retail businesses in liquidation administration [see comment below], [see photo's below], Jessops, HMV, and Game. Luckily for Camberley, even though the last two businesses have severely reduced the number of their shops, their shops in Camberley are open.
These businesses, the same as with Comet and Blockbuster, have been dramatically affected by a change in retail behaviour with the move away from people buying goods on the High Street to purchasing from lower-cost online businesses. Here’s a list of retail business failures - not a happy viewing.
Research shows that the UK has the highest % of online retailing in Europe, at 12.0%, and if I could find the data, I belive in the world. What was it that Napoleon said, the British were a nation of shopkeepers. Well now that should be a nation of online shopkeepers.
While there is significant change in retail, other areas of the economy are buoyant, notably motor manufacturing [Honda apart] and the digital economy. For example, Google announced this week that it’s spending $1.6 billion to create a new UK headquarters, and Amazon expansion plans, HERE and HERE include investment in their LoveFilm and Pushbutton divisions.
Ok, where am I going with this? Specifically, future employment opportunities for people will require that they have good levels of education and application to work, and not necessarily a degree-level qualification. Good quality communication skills, and adaptability are what’s needed.
Administration and liquidation aren’t the same thing, of course. Not sure your opening sentence is right re HMV or Jessops at least.
By: The Camberley Society on January 18, 2013
at 3:16 pm
Camberley Society, you’re correct. Will amend. Thks
By: timdodds on January 18, 2013
at 3:52 pm