The chairman of drinks retailer Majestic Wine has warned that the high street faces further decline due to its failure to adapt to changing consumer behaviour.
In a speech at Oxford University yesterday, Phil Wrigley – the former chairman of fashion chain New Look – suggested the government should drop the recent report from adviser and media personality Mary Portas, saying it offered the “right diagnosis” but the “wrong prescription”.
“Retailing will never be the same again, but there is much to be gained from facing up to this fundamental, and irreversible, truth. In doing so, we might just create the space in which we can re-cast and revitalise our town centre communities,” he observed.
Mr Wrigley added that vacant shops may be better used as residential accommodation, pointing out that some retailers may be deterred from setting up shop in areas blighted by a high proportion of empty units.
A recent study from the Welsh Assembly’s cross-party enterprise and business committee called for urgent action to rescue Wales’ high streets, noting that town centres had struggled to attract consumers.
