As online-only businesses such as Boohoo and Asos snap up struggling fashion players who have suffered tumbling store sales during the pandemic, Retail Week asks whether fashion still needs a bricks-and-mortar footprint in 2021.
Nitin Passi, founder and chief executive, Missguided
“Physical stores are far from being history – they’re reinventing themselves rapidly for today’s customers.
“But, in my view, that reinvention needs a retailer’s whole heart. We began, grew and made our name as a pureplay ecommerce brand. We know that’s our passion and expertise. And, while we’ve experimented with physical retailing, it needed skills, time and attention that ultimately diverted energy from what we do best. Lesson learned.
“This has always been the case – retail success is about simplicity, about agility, about being all in for your customer. The delivery channel – physical, digital or a combination – is a side-show by comparison.
“All retailers, whether online or offline, can thrive in today’s demanding age if they put those values at the centre of what they do.”
Mark Bourgeois, managing director, Hammerson
“Absolutely, because for the most successful omnichannel brands, physical stores have, even pre-pandemic, been much more than simply a channel for sales.
“A store in one of our flagship destinations will sell products, but it will also act as a location for click and collect, as a way to build brand awareness among customers and as a venue for experiences like product launches and unique events.
“On top of that, from credit card data we know that when a brand opens a store with us, not only will it sell items from that store, but the brand will also see an immediate increase in its broader online sales in the regional catchment, because of that extra visibility and more customers engaging with the brand.
“More broadly, though, if the past 12 months have told us anything, it’s that we are social creatures. Nothing is more valuable than sharing experiences with friends and family, and our destinations will fulfil that social need well into the future.
Nick Jones, chief executive, Joules
“From a Joules perspective, we absolutely need stores.
“The store and physical experience is an important part of our overall brand and the lifestyle we promote. It helps engage customers in locations on smaller high streets, it’s a great way of acquiring customers and, for us, it’s an important part of our overall brand proposition.
“I think that most customers want to be able to shop how they choose and therefore a balance of physical and digital in the longer term will be really important, and for most other brands that is the case, too.”
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