By Claire West
Business recovery firm Begbies Trainor reported today that retailers are in a "critical” condition and predicted there will be a further rise in the number of retail insolvencies in 2013.
While Boxing Day is expected to be the biggest day in terms of sales, Amazon, John Lewis and Tesco are just some of the major retailers starting their online sales earlier than ever before.
Dan Wager, Chairman and CEO of mPowa, commented: “This year has been more competitive than any previous year. Conditions on the high street have been the fiercest and most challenging yet and have led to aggressive discounting right across the board, for both online and offline retail, as consumers have become wise to the opportunities offered to find bargains and discounts.
“Although it might well have been helpful to the high street to change the Sunday Trading Laws, the biggest change of behaviour has been consumers shopping in the same way as they now bank, i.e. online and all hours.
“People now want to be able to shop anywhere and anytime, and using tablets and mobiles allows them to do so. Most retailers have seen an exponential rise in the number of orders received by customers using these devices. Retailers who have not responded with speed and agility are likely to be the real casualties of this changing landscape of retail.”