Napoleon famously didn’t see the British as a threat because, in his words, we are “nation of shopkeepers.” And it’s safe to say that we do love shopping. So why are big brands like Toys-R-Us, Maplin, BHS, and New Look being forced to close stores? The media seems to consistently blame one major culprit: Millennials. However, millennials are not to blame for the fall of these big retail brands. And here’s how I know. Millennials shop in actual stores Millennials prefer real life stores! I thought the opposite when I started my research for this piece but it’s true! Crazy right? Not when you think about. Millennials grew up with Amazon, Facebook, and Instagram, so they have had ample opportunity to shop online. But as we can see from the Forbes study cited above, their behaviour is not much different from that of other, older consumers. It seems millennials like the way stores allow us to try before we buy, pick up a bargain, browse similar items, or, scarily enough, just buy something outright! Figure 1: Struggling UK retailers vs Amazon.co.uk Why the high street is getting quiet Only 3 of the top 20 retailers in the UK are not… Read full this story
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Is this the Retail Apocalypse? No! So, stop blaming Millennials for stores closing have 313 words, post on www.branded3.com at June 22, 2018. This is cached page on CuBird. If you want remove this page, please contact us.