In the press
Berkeley’s Dave Machin on the UK high street’s woe
As M&S reports a sharp drop in annual profits, Berkeley Partner, Dave Machin, talks to Drapers about the challenges facing the UK’s high street.
Source: Drapers
M&S: Can the 'Titanic' of the high street change course?
Dave Machin, partner at management consultancy The Berkeley Partnership, says that mid-market brands are suffering: “Online spending is one of the biggest challenges currently facing retailers, and it comes not just via ecommerce – services such as Netflix and Spotify are also taking some of the money that was being spent on the high street.
“However, it seems that the mid-market is being hit hardest. The low-price-point and high-end retailers are generally reporting flat like-for-like sales.”
Machin believes that to compete retailers such as M&S will need to break down barriers between stores and online, which may lead to an increase in “smart” experiential stores.
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