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Online shopping is king and the high street could be on the way down: almost a quarter (24.9 per cent) of all retail spending on non-food products was conducted online in the three months to January 2017, with online sales contributing 2.9 per cent to year-on-year growth, according to the British Retail Consortium.
The ease with which consumers can shop online and the growing purchasing power of Millennials have led to a shift in the market that continues to be felt. Analysts at HSBC have confirmed that online will be the primary driver of like-for-like sales growth, and this confirms the shift away from high fixed cost bricks and mortar retailing.
This sort of news means there are a lot of new sites out there that are trying to offer the best deals and savings for consumers.
The Jive Hippo membership site is one such offering. JiveHippo.club, blends the growing relevance of online retail with shoppers' need to save money. It offers members significant savings on everyday products, from electronics to travel to household items. Jive Hippo's spokesperson says the site 'balances out consumers' lifestyle requirements with the reality of living in a time of such political uncertainty'.
Member discounts mean that shoppers can still purchase the goods they desire, but make a saving at the same time. A typical customer using Jive Hippo for their everyday purchases, as well as two holidays per year, can save £9,812 each year, claims the site.
Paul Martin, UK head of retail at KPMG, agrees that online retail channels will continue to grow in popularity, and with increased pricing pinching the consumer purse, retailers will need to balance price, personalisation and customer experience seamlessly in order to grab the attention of their customers.
And he believes sites like this will be instrumental in the new world order. 'With the high street struggling, it is the new generation of retailers such as Jive Hippo that will become the cornerstone of the UK marketplace.'