Jason Jeffries
28 October 2011
The poor economy and low consumer spending have put many retailers in a tough position. While large retail chains are using their resources to stay afloat, many smaller vendors are struggling to make ends meet due to low sales figures. But ecommerce sites are producing strong results for niche retailers, due to low overhead costs and an expanded consumer base online.
The Financial Times reported that retailers in the U.K. are facing store closings due to poor consumer turnout. Specialty retailers have suffered significant losses, and even major chains such as Mothercare and Thorntons are making changes to reduce costs.
"You can't really afford to be a specialist unless you're online, with few physical costs and a virtually unlimited audience," Maureen Hinton, retail practice leader at Verdict, told the news source.
One specialty retailer in particular has found great success online. Green Metropolis, an online used bookseller based in Benswell, Newcastle, was recently named Best Online Book Seller at the 2011 Online Retail Awards for its strong results and growth in the digital sphere.
Journal Live reported that the retailer was nominated for the award by The Woodland Trust, after the two organisations developed a partnership. For every book sold on Green Metropolis, 5 percent of the revenue is donated to The Woodland Trust charity, and this idea won the judges over. So far, the partnership has raised £23,000 for the Trust, and Green Metropolis is working with other charities as well.
The news source reported the bookseller was created by Barry Crow and offers a platform through which its 100,000 online members can buy and sell used books for a set price while making money for charities at the same time.
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