Ross Clark Ross Clark

The death of the high street has been greatly exaggerated

Predictions of the death of the shop have become as much a ritual of New Year as fireworks and the singing of Auld Lang Syne. The two big retailers which have so far reported on their business over the Christmas period have provided the usual ammunition. Next reported sales up by 1.5 per cent in the 54 days to 24 December (compared with 2016), but only because online sales (which rose 13.6 per cent) offset sales in physical shops (which were down 6.1 per cent). Debenhams had a miserable Christmas, with like-for-like sales falling 2.6 per cent in the 17 weeks to 30 December. It is now thinking of shifting out some clothing racks and shoving gyms into its stores.

So is it the end of the shop as we know it, as online retailers gnash away at their business? I wouldn’t write off physical shops just yet.

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