High street shops have faced unprecedented challenges since March 2020. As well as formal periods of lockdown when only shops selling essential goods were allowed to remain open, more generally consumers have been encouraged to limit shopping trips and social interaction.
Prior to spring 2020 some well-known retailers were already facing challenges, having been criticised for not sufficiently engaging with online retailing nor updating supply chains. The global pandemic gave rise to an unexpected demand shock that some already struggling major retail businesses could not survive. Hence, in 2020 we saw the collapse of major retailers including Debenhams, Cath Kidston and Arcadia, which included brands such as Topshop and Miss Selfridge. Some of these brands may not survive, while others have been bought by major online retailers such as Asos and Boohoo, but with a commitment only to maintain brands online.
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