Viability of High-Street Retail Business Model

Viability of High-Street Retail Business Model
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Viability of High-Street Retail Business Model
Companies have evolved and diversified their operation models through technological trends to compete in their respective industries sustainably. The post-pandemic era offers different options for businesses to connect and engage their customers. There is a rise in the establishment of various retail companies globally. The success or failure of these entities relies on multiple factors, including the business models and frameworks adopted, technological advancements, global markets, the nature of competition, state laws and regulations, and management structure. Levels of urbanization and tax regimes of a country also determine the type of business models to adopt. In retail, various business models exist, such as store-based, service, and non-store retailing. High-Street retails store-based models are located on the major streets and towns. A business has to effectively evaluate the different business models that best suit their customers' business needs and needs. The research evaluates the different types of retails, degrees of urbanization, and tax regimes in ascertaining the viability of the high-street retail models.
Literature Review
Various scholars hold different views on the nature and future of high-street business models. The literature on high-street retail models is diversified and sizeable. Both quantitative data and the specific developments of high street drivers are vital in understanding the performance of such models. According to retail expert Mary Portas, High Street Retails requires complete change (Iqbal, 2020). The retail guru suggests that the transformations caused by the COVID pandemic make high-street retail unfavorable business models. With online and downtown retails, the chances of High Street Retail surviving into the future are minimal. Using stores to hold a stock is pointless where online marketing is thriving. According to Tali, the advent of e-commerce and online shopping has led to the decline in power held by high-street retails. However, the High Street Retails are also efficient for making sales due to the perception of good quality products and advice from in-store retailers on the streets.
Methodology
The research utilizes data and information from case studies and qualitative data from various articles and journals. Analytical tools and frameworks such as the PESTLE, Porter's 5 Forces, and SWOT analysis to retrieve data on the types of retail models and the tax regimes favorable for the High Street Retails. The externalities, market forces, demographics, tax systems, and legislations are evaluated using analytical methods. The changes in High Street Retail are collaboratively considered through the objectives devised to determine the vitality of those high street centers. The quantitative approach is used to effectively evaluate the performance and growth of the High Street Retails. The types of retail and tax regimes that favor or hinder high street models are maximally analyzed through a survey.
Findings
The...