Is the web killing the high street?

Graeme Lawrence and Helen Clark
Virtual Surveys Limited, United Kingdom

INTRODUCTION: TRENDS AND ANALYSIS

An important starting point that cannot be contested is that online shopping continues to grow and is fully established within the retail framework. As such the web has changed and, most importantly, will continue to change the way consumers shop.

Wherever you look there seems to be some data about the impact of online shopping on the retail industry. Examples include:

  • Estimated £25–30 billion will be spent online in the UK in 2007.

  • 24 million people shopped online in the UK in 2005.1

  • UK Online Retailing rose in value by nearly 30% in 2005 – over 15 times the pace of all retail.2