In one of the recent incidents, it has been brought forward that the famous Oxford Street of London is expected to become a dinosaur district for extinction over the period.
M&S CEO Warns That Oxford Street Risks Becoming A “Dinosaur District.”
The chief executive officer has made this kind of statement about Mark and Spencer. It is important to mention that due to the glowing level of the flagship store of this important brand, this statement has been able to express the level of competition that the particular market of Oxford Street is facing. But this is not visiting in bringing a positive impact. At the same time, all of this is responsible for making the famous location a way to prevent the proliferation of tacky candy stores.
Reasons
It is important to mention that the marketing team of this important brand has been able to secure approval from the greater London authority to demolish the existing Studio and replace it with a ten-story retail Arcade. This will be responsible for bringing forward a huge amount of development concerning that particular Street.
But all of this is not going to take place very soon because, first of all, the marketing team of the brand would be in the position to evaluate whether the construction of this huge building would be able to bring a sustainable amount of profit over the period to the company or not. If the answer is affirmative, then there would be nothing wrong with going ahead with the plan, but at the same time, if the answer is not positive, then a lot of shifts and changes have to be taken into consideration.
Issues
It is important to mention that this is one of the most important factors that must be considered. The company is contemplating so much concerning construction because covid-19 has already brought the most expensive market to its knees in London. This is because there are so many hawkers who sell cheap stuff to people. This is responsible for attracting the maximum chunk of the population towards these stores and outlets instead of the expensive outlets that this brand is contemplating building for the time being.
It is only after conducting the proper analysis that it would be possible for a particular company that is huge to bring down a solution. This is the best type of perspective that has to be considered over the period to bring the additional type of challenges and changes that are expected to be helpful in the long run.
All of this kind of study will help out in making the best decision that is in the interest of the entire community. A company cannot take the decision so easily because it has to think of so many factors, and it is only when all of these factors have been decided in the interest of the company that the company finally decides to proceed ahead with the best plan, which otherwise may not be possible.
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