Band 6+: Many high street shops have gone out of business in recent years. Why do you think this has happened? Is it a possitive or negative development?

In recent years, thousands of brick and mortar stores located on main streets have been vanishing at record highs. There are several key factors cited in this shutting and in this essay, I would also argue that this occurrence definitely is a progressive development.

There are two main causes that could be taken into account for this retail apocalypse. First, it is the very noticeable shift in customer buying behaviour towards shopping online that forces retailers to shutter their physical stores and switch to e-commerce business type. The remodelling is chiefly due to the thriving digital communications such as the Internet, mass media and social network. Second, sellers and wholesalers are doing their utmost to cut down costs per product in order to be able to survive in the competitive market. Sacrificing storefronts might be one of the most manifest approaches to save many companies an enormous proportion of capital lavished on rental, allowing these vendors to lower their prices to adapt to the current shrinking economy.

This prominent amendment could undoubtedly be advantageous for not only citizens but the society as a whole as well. When it comes to individual benefits, the blooming of e-commerce would make it totally feasible for buyers to enjoy much higher quality products at lower prices. Manufacturers nowadays have been switching their expenditure from store operating expenses to cutting-edge technology and breakthrough innovation investment so as to guarantee their loyal customers products and services that are excellent yet affordable. Besides, the transition of the retail industry would also especially facilitate the community’s endeavours to address traffic-related issues. The fact that showrooms and department stores on high avenues where the transportation density is extremely high on-peak hours are swiftly diminishing would immediately soothe the traffic congestion on those streets.

In conclusion, e-commerce explosion in popularity and the attempts of retailers to cut down operation and distribution spending might be the two key elements contributing to the encapsulation of the retail industry at large and in my opinion, this modification is indisputably a blessing for the sake of both private and public sector.