Published on March 19th, 2013 | by Daisy Lloyd0
Store closures surge tenfold in 2012 driven by retail administrations
PwC chief retail adviser Christine Cross said the figures were “more disappointing” than expected and added that retailers need a “very different operating model” to those in the past.
“While rates remain high, there is still a need for retailers to address cyclical cost increases and, even more, structural changes in ways of doing business,” said Cross. “Today’s customer does not differentiate between where they heard about, researched, saw, purchased or returned a product. They expect to be able to effect every part of the shopping transaction from any channel. This is the age of the total retail experience and it demands a very different operating model to be successful.”