Online clothing sales to overtake high street stores next year
The TelegraphOnline sales of clothing will overtake in-store shopping next year in a watershed moment for high street retailers. Digital purchases jumped by £2.7bn, or almost a fifth, in the pandemic, even as total apparel transactions plunged by £9.6bn, according to a new report from Retail Economics and Eversheds Sutherland. If nothing is done to counter the new pattern of sales, high street clothing retailers risk a £14.5bn hole in sales by the middle of the decade, the analysts warn. These no-cost options should be considered as the UK looks to establish itself as an international retail market outside of the EU.” Last week, the Chancellor announced a one-year 50pc business rates relief scheme for retailers, as well as a change to the way premises are taxed when companies invest in their sites.
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