The coronavirus has impacted the British high-street’s physical stores, since lockdown has been lifted are consumers still saving or deciding to venture out?
European technology firm, Raisin, compared search engine visibility to revenue earned from retailers to visualise how much space online shops command in comparison to physical stores, these calculations have created a virtual high-street.
Recent reports from the Office for National Statistics (ONS), showed that British high-street’s stores were on the rise prior to the pandemic. Would these physical shops look different if these online giants were to head to the high street?
Photo credit: Raisin
Speculative shopping street for fashion retail
Raisin studied fashion retailers consisting of Asos, Boohoo, Debenhams, H&M, Missguided, New Look, Pretty Little Thing, Primark, Topshop and Zara.
Asos commanded 32.5 percent of the virtual high-street, with Debenhams following at 24.8 percent.
Fast-fashion brands Boohoo (9.6 percent), Missguided (6.7 percent) and Pretty Little Thing (7.1 percent) would stand up against established retailers such as H&M (5.5 percent), New Look (7.4 percent) and Topshop (1.9 percent).
Collectively the online fashion stores would cover over 55 percent of their market despite their varying levels of revenue.
Photo credit: Raisin
Amazon dominates retail
Raisin studied general retailers including Amazon, Argos, Boots, B&M, eBay, Halfords, John Lewis, Poundland, Superdrug and Wilko.
Their calculations show Amazon taking over the high-street with it occupying 60.4 percent of the virtual high-street.
In comparison to Amazon, online shopping site, eBay, would claim 23.4 percent of the high-street, and Argos comes out the most popular physical retailer retaining 9.1 percent of the average visibility.
Despite online trends and the decline of British high-street, the physical retailers have remained prominent through the virtual representation. Raisin speculated that the decline of the high-street may not be as widespread as publicised.
Photo credit: Jeshoots.com, Pexel