ASOS buys Topshop: Can the high-street recover as brands are saved, but outlets are not?

Online fashion retailer Asos has bought the Topshop, Topman, Miss Selfridge and HIIT brands from the Arcadia group in a deal worth £295m. Asos is acquiring the stock and the brands. However, it is not taking on the stores. As one of the most affected institutions in society, it is important that high-street retailers are able to increase purchases and secure more footfall, however M&A deals such as this paint a bleak picture for the future of physical retail.

With retail footfall falling by 60% in 2020, the need to attract customers to the high-street once again is pivotal for economic growth. One such avenue of achieving this is through the implementation of specialised retail technology, ensuring the evolution of the in-store experience.

Ubamarket represents one company who have already developed this technology in the supermarket and grocery sector, with retailers including SPAR, EUROSPAR, Budgens and Londis having adopted for Ubamarket’s mobile technology to support in-app payment, aisle sat-nav, automatic loyalty and remote stock checking capabilities for their customers.

CEO of Ubamarket, Will Broome, discusses how Britain’s high street retailers can enhance the shopping experience and usher in a new age of physical retail:

“As one of the most affected and integral institutions in society, it is essential that Britain’s retailers look to adapt to the new conditions to ensure they adapt to the challenges Covid throws their way. Retail technology offers an all-encompassing solution; in Ubamarket’s case in the form of a simple app; which can put consumers in control, doing away with the need for time-consuming queues, unhygienic checkouts, and confusion about where products are and whether they are in stock. By building lists off-site and checking stock before entering the store, retail technology can help reduce necessary queues before consumers travel to the outlet. It remains to be seen how the sector will fare beyond Coronavirus, but retail technology is sure to play a significant role.”

Ubamarket’s mobile technology helps retailers to offer customers an incredible experience when they come to shop at their stores. Not only does our technology revitalise and revolutionise the process of shopping in-store for customers, but it also provides retailers with a much-needed method to get back on track and ensure they can thrive in the midst of a tough climate for the industry.”