The main Four reasons why Gap is closing all its shops in the United Kingdom

Gap will close all 81 of its Ireland in the UK and Ireland by the early autumn the company has confirmed.

The company will continue trading online but will sell stores in France and Italy. The shop has been a staple for many UK customers since opening its doors in 1987.

1. It failed to adapt

Experts say that the chain, which began in San Francisco selling only Levi’s and LP records, fell behind with fashion trends. Gap failed to adapt and “embrace the new customer,” by not offering enough variety and not being as cheap as competitors such as Primark.

2. Too many discounts

Natalie Berg thinks Gap customers had “promotional fatigue” from too many 50%-70% sale offers. This lack of agility in costing products left them in a “race to the bottom”, she says.

3. Not distinctive enough

Retail experts argue that Gap increasingly failed to stand out from the crowd. Gap lost out because it was “not a new and exciting concept anymore”, says Diane Wehrle. Gap is not alone in struggling, says Cathy Parker, professor of retail and marketing enterprise at Manchester Metropolitan University.

4. It had too many shops

Covid has accelerated the difficulties for many retailers, with many big chains closing stores and famous names such as Debenhams disappearing from the High Street. “We have an oversupply of retail space which is no longer fit for purpose,” Natalie Berg explains.
Richard Lim confirmed that Covid-induced lockdowns have been the “final nail in the coffin for too many stores” and additionally Gap’s “uninspiring” shopping environment. Richard stated that experiences became much more important to drive footfall and Gap “failed to embrace that”.


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Subscribe To Our Daily Update

Share via
Copy link
Malcare WordPress Security