Powa Technologies CEO Dan Wagner suggested it is ridiculous to rely on the weather for an upturn in sales when the country is in search of wider improvements in economic performance. “There should be a greater emphasis on innovation that engages more directly with consumers to deliver more activity at the tills,” Wagner said.
Online shopping has transformed the way people buy and the high street has struggled to keep up. Of course, high street stores were bound to have a hard time if they clung to old models, which has lead to the death or transformation of what were once givens in any town centre.
Convenience has trumped the bricks and mortar approach for many people. Especially when it comes to delivering content, microtransactions online get that content to whichever device you prefer so much faster than a bricks and mortar shop, it’s unsurprising that many film and music outlets have faltered.
But this won’t necessarily mean the death of the high street.
“New shopping models involve convenient delivery and collection methods, more enjoyable methods of browsing, and quick means of payment,” Wagner said. “We shouldn’t be anticipating the loss of the high street, we should be anticipating its evolution”.
Just where that evolution will go depends on companies being prepared to take risks. One possible model is a hybrid approach, where consumers can buy online and collect in store or vice versa in interactive showrooms.