Can social media save the high street?

The town centre is dying, whilst online retail flourishes. But can social media save the high street? The Drum explores the impact a strong online community can have on brick and mortar stores.
Can social media save the high street? Can social media save the high street?

Despite Mary Portas's best efforts, the high street remains on a downward spiral. A Deloitte 2012 report suggested that four out of 10 shops will close in the next five years, resulting in a high street lined with coffee shops and internet kiosks.

In contrast to the struggling high street, online retail spending has soared with online sales forecast to reach £43 billion by 2015 - accounting for 14 per cent of all retail sales. The music, film and gaming industries have seen the most dramatic change as more than half of CDs and DVDs are now being sold online - UK based computer game retailer, Game, went into administration in early 2012 with business hit by competition from online-only retailers whilst Borders and Zavvi went bust in 2011 and 2010 respectively. With such closures becoming more common many believe that the internet will prove to be the final nail in the coffin for the British high street.

Or will it? As retailers are increasingly turning to Facebook and Twitter in a bid to drive sales and get people back into their stores, The Drum asks industry insiders how social media can help save the high street?

Read the full story here: Can social media save the high street? | The Drum