E-commerce platform raises £272k to ‘save the high street’
Renowned retail expert Martin Newman from Practicology is among a group of investors who have raised £272,000 to develop DownYourHighStreet e-commerce platform, which hopes to save Britain’s ailing high streets.
The site was created specifically for independent bricks and mortar retailers to grow their e-commerce business, and recently completed the funding round with Crowdcube. The company secured 181% (£272,060) of their target investment from 140 backers.
Newman runs London-based e-commerce consultancy, Practicology.
"I’m really happy to be investing in DownYourHighStreet.com and in doing so, helping to empower independent retailers to take advantage of the multichannel shopping requirements of our consumers,” Newman said.
“Britain needs to embrace our future as a multi-channel economy and accept that customers choose experiences as much as they choose products. There will always be a place for bricks and mortar stores, and there will always be a place for speedy, efficient online shopping”, he added.
“We live in exciting times, and by celebrating this diversification we can work with what our customers really want, to ensure a great future for stores and shoppers alike. I’m putting my money and my advice where my mouth is on this one: Britain’s high streets are here to stay. I look forward to supporting Down Your High Street as they continue to empower independent retailers.”
The UK government, following the introduction of its Great British High Street Awards, have introduced a £500,000 British Improvement Districts (BIDs) Loan Fund allowing communities to deliver additional local services and upgrade commercial areas for the benefit of business.
The Housing, Communities and Local Government Committee (HCLG) recently released a report urging a number of measures to help boost the High Street – including a fairer tax system.
Newman, has over 25 years’ expertise in multi-channel retail, heading up the eCommerce departments of some of the world’s leading brands including Burberry, Intersport, Harrods and Ted Baker.
With his company Practicology, one of the fastest growing global e-commerce and multi-channel consultancies, he has advised e-commerce companies globally to help them grow and improve their omni-channel services.