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4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

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Taxing online sales may be the way to save the high street

Posted on in Business News

Mike Ashley, Sports Direct founder and chief executive, spoke to Parliament's Housing communities and local government committees this week.

tax 

Ashley said that a 20% tax on retailers that turn over more than 20% of their business online would make retailers desperate to keep their high street business running.

As a retailer himself, Ashley said that:

"If I'm a retailer I will make sure not to pay 20% tax, I'd keep 80% of revenues going through the high street - I'd stop closing three stores into one. I'd now say it make perfect sense for me to cross subsidise those stores and keep it open. What's more, what I'd like is if we had click and collect through high street stores, that acts as a credit".

Click and collect as a feature encourages shoppers to come into the stores, it also means that shoppers are coming through the high street increasing foot traffic. But this is not just it, councils, landlords and retailers must all work together if they want to save the high street.

Ashley, argues that the high street is failing because of the internet. With a £400m internet business, the thing that is affected most by this business is the high street. In Ashley's mind the high street and department stores, which is a good concept, need to evolve and be different. Department stores are stuck with prehistoric rents and stopping them from moulding with the changing retail environment.

In his mind, there is a fix for the failing high street and it is not to fight against the internet and its presence in our lives but to work harmoniously with the internet and the community that makes up the high streets.

Although, Ashley has caught the attention of many M&S, New Look and Lakeland Leather were also at the hearing with opinions of their own.

M&S is looking to rebalance online sales with its store, with New Look focusing on its customers and what they want from its stores.

M&S has said it plans to close 100 full line stores as it move more clothing and homeware sale online to target the 33% of sales.

New Look, is also closing stores on the high street to rightsize its store estate for a future that is more online. This decision was driven by the customer.

Lakeland Leather are getting more into personal shopping and experiences with fashion shows in-store, connecting bricks and mortar to online.

The 33% of sales that took place online during Black Friday have not only affected how consumers shop at Black Friday but how they shop all year round.

What do you think?

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