High Street shops to struggle

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The economic squeeze could force mid-market retailers, such as Next and Marks & Spencer, out of business, as shoppers go for higher-end stores including Ted Baker.

A new report says there are tough times ahead for mass-market clothing stores because shoppers are choosing to 'invest' in clothes from brands at the upper end of the market.

The research group Verdict found stores including Next, Bhs and M&S will steadily lose customers to niche retailers such as Ted Baker and Boden.

'With shoppers having less to spend and becoming more selective in what they buy, clothing retailers will have to stand out from the crowd to win market share,' said Verdict analyst Maureen Hinton.

'It is retailers in the largest segment of the market, the middle, that are losing out,' she added.

While we don't approve of wild spending in a recession, we do like the idea of investing in good quality clothes, shoes and handbags!

Thursday 13 November 2008

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