So what has gone so badly wrong wrong with retail?
House of Fraser
The list could go on…
Undoubtedly there is a mix of factors.
There is Business rate increases, then there is high rent retail units, then of course there is the Brexit effect on the £ and the huge rise in minimum wage.
But hang on a minute.
Those factors affect all retailers, so why are some struggling and others succeeding?
In our humble opinion it is all about relevance.
For example is House of Fraser relevant, vibrant and your first choice for clothes/beauty/homeware?
Has their strategic direction, their ranges and their marketing made them relevant?
If we use instagram as a guide to relevance the House of Fraser has 168 000 followers, Debenhams 189 000 followers, Mothercare 146 000 followers.
Amazon has 1.4 million
BooHoo has 4.6 million!
For further proof just look at their Instagram profile text…
House Of Fraser
Over 1000 premium brands and designer labels now available, make #HouseOfFraser your luxury shopping destination.
Which one is more relevant?
So are you being relevant to your customers?