High Street must lean on tech to survive

highstreet South endMonthly figures released by KPMG and the British Retail Consortium show that growth on the high street showed a 2.6 percent increase in October – up from 2.4 percent in September.

According to Dan Wagner, CEO of Powa Technologies, the outlook is bleak.

He said more shops are closing than opening and the figures might look better than 2012 but last year was a disaster, with 48,000 people laid off, 4,000 shops closed and 54 retailers going bust.

Wagner reckons that traditional shops on the high street need to get to grips with new technology.

“This is a crucial time of year for the retail industry. More than ever before it needs a technology driven resolution to create new ways to engage with customers,” Wagner said.

He thinks mobile point of sale is one way for shoips to engage with the technology, with people able to pick up goods without being crushed to death by the festive throng.