Consumerism in crisis as millennials stay away from shops

Christmas may seem like a distant memory, but retailers won’t forget it in a hurry: it was the worst on the UK high street since 2008. Marks & Spencer and Debenhams saw sales fall, while the likes of specialist retailer Halfords and discounter B&M also struggled. Even that most Christmassy of stores, John Lewis, is forecasting a dive in profits after discounting to keep up with competitors. Put simply, the British high street is a horror story just now. Debenhams, founded in 1778, has seen its share price drop more than 90% over the past year. HMV has gone into administration for the second time in six years and is seeking a buyer.
Read more: https://theconversation.com/consumerism-in-crisis-as-millennials-stay-away-from-shops-109827?source=Snapzu