Before Covid-19 hit, many businesses were feeling the squeeze of the high street rates. Brands such as HMV and GAME have filed for bankruptcy, been saved, only to have a global pandemic hit and make the pressure even worse. One of the most recent events has been the permanent closure of all 60 of Cath Kidson’s stores after calling administrators in April. A spokesperson from Cath Kidson’s parent company, Baring Private Equity Asia had this to say:
“While we are disappointed that the COVID-19 crisis has resulted in the cessation of the retail store network and impacted many employees, we are pleased to have secured a future for a number of Cath Kidston staff and the Cath Kidston brand in the form of a viable digital business.”
Consumers have been shifting from physical to digital for years, and Covid-19 has simply accelerated the process. If big businesses are struggling to survive this crisis, it’s hard to imagine how the small businesses are faring too. We don’t want the worst to happen, but a good thing to implement now while you can is to set up your own online store or site. Not only will this give you a fallback if retail becomes too much for you, but can also provide the money you need to keep the retail dream alive!
You may think stores like Zavvi and Woolworths are a distant memory, but they are still thriving thanks to moving online. Many benefits are up for grabs with an online store. No more rental fees, less staff to pay, an expanded audience and much more.
One of the biggest advantages of having an online platform is the access to data. The more data you have, the more you begin to understand your audience, allowing you to adapt your website and products to better suit the target market and keep on top of trends.
If you’d like to start your website journey, we are happy to help you on your way to success with our website packages. If you’d like to know more or want to see some examples of our completed websites, get in touch with one of our friendly members of staff via [email protected] or 07496 088297. We can’t wait to hear from you!