UK retailers struggle with global move away from physical shops - FT.com
The shift is on, moving customers to the next great advance in shopping.
"BHS and Austin Reed, two of the country’s best-known retailers with 200 years of trading history between them, collapsed within days of each other in the past month. Their loss involves 284 shops and 12,000 jobs.
The former British Home Stores, which once rivaled Marks and Spencer as a general merchandiser on the high street, and Austin Reed, the menswear company founded in 1900, are the latest in a growing roll call of high street retail failures.
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Though each had its own set of problems, the one they all shared was failing to adapt quickly enough to the internet revolution that has changed fundamentally the way people around the world shop."
The Federal Reserve Bank's easy money policy has created entirely too many shops, we will see this rectified shortly but at great expense, and worker dislocation. This is the reason for our recent moribund productivity growth. Thank the Fed and Obama for this.