High street gets online beating

A NEW survey and report issued by Retail Ireland has highlighted the massive impact online sales have had on high street shops.

In its latest Retail Monitor, which looks at consumer spending in shops across Ireland, Retail Ireland warn that a failure to act on the matter in the short-term would lead to closures and the gradual disappearance of certain retail formats on the high street.

“2017 was notable for a rapid increase in online shopping by Irish consumers,” said Thomas Burke, director of Retail Ireland.

“Christmas 2017 will show record online sales. This lays the challenge squarely at the door of the traditional Irish retail sector.”

“A clear digital strategy will be crucial in ensuring the future of such businesses who must embrace the challenge at all levels of the organisation.”

The retail lobby group, whose members operate 3,000 outlets across the country, also said that the Government would have a role to play in the retail sector’s required transformation.

“Bricks and mortar retailers continue to carry all the burden of costs associated with retailing in the State,” Mr Burke said.

Overall retail sales in 2017 were up 3.9pc in terms of value on 2016, with furniture, lighting and homeware stores performing particularly strongly during the year.

Increased sales were reported in all retail sectors during the year, with the exception of speciality food and drink storesHowever in December, traditionally the busiest month for retailers, sales actually fell by 0.7 per cent when compared with retail sales in November, highlighting the growing importance of and impact of global online retail events such as Black Friday and Cyber Monday.

Such promotional events are now actively displacing consumer spending from later in the Christmas season, Retail Ireland said. The lobby group added that the long-term impact of such promotional events remains unknown.

The newly refurbished Mall in Tralee.