imutual.co.uk

blythburgh wrote: ↑

Sun Jan 27 2019 9:54am

People are using the bank branches and shops but just not enough in the opinion of the desire to maximise profit companies.

Cash in must exceed cash out. That is cold hard accounting fact not opinion.

pabenny wrote: ↑

Sun Jan 27 2019 11:01am

So are you suggesting that retailers and banks should keep branches open that don't cover their costs?

Probably.

Those desire to maximise profit companies simply don't take into account the pain felt by the inhabitants of Lowestoft at the loss of their Body Shop.

Boro Boy wrote: ↑

Sat Jan 26 2019 8:11pm

Certainly sounds like you have fallen for the banks marketing campaigns in their effort to encourage people to use their on-line services -

Nope. I've used online banking for a number of years and have found it a vast improvement over the offline equivalent

Trying to claim that I am somehow stupid by falling for marketing campaigns is just an example of the ad hominem fallacy.

Interested parties might want to read this
https://www.dailymail.co.uk/money/news/ ... xpert.html

Some chap called Mark Pilkington has written a book, Retail Therapy: Why The Retail Industry is Broken – and What Can Be Done To Fix It.

At least he has an alternative. Stores;

should become alluring showrooms, attracting customers in, acting as gateways for getting them onto the retailers' own competitive websites. They should also be beautifully laid out, uncluttered, pleasant places to be. Go into any Apple store to see how this works.

Imagine such a place, where you also get a free tea or coffee, and staff, instead of being low rewarded and poorly motivated, are well-paid, highly-trained, charming and knowledgeable. They will show you the carefully selected stock and guide you towards making that e-purchase, which would then arrive at your home in just an hour or two. They won't waste time shelf-stacking, but focus on enticing customers into buying. A key thing that can out-compete Amazon is an intelligent and attentive sales person.


I think I'd rather get my own nespresso, pick my own stock, and do my own e-purchase and get some cashback. But that's just me.

P.S. Why are their members of a cashback website moaning about the impact of online shopping on high street stores. Don't they realise that they and it are part of the (perceived) problem?

pabenny wrote: ↑

Sun Jan 27 2019 11:01am

blythburgh wrote: ↑

Sun Jan 27 2019 9:54am

People are using the bank branches and shops but just not enough in the opinion of the desire to maximise profit companies.

So are you suggesting that retailers and banks should keep branches open that don't cover their costs?

I didn't read blythburgh's comment like that. I thought she was supporting the proposition that the banks and shops are closing because they aren't making sufficient profit (whether that be enough to cover costs, or enough to satisfy shareholders).

Boro Boy wrote: ↑

Sat Jan 26 2019 9:56pm

Chadwick wrote: ↑

Sat Jan 26 2019 8:23pm

All those people used to go to their local branch, but it is shut now.
Yours is the one that has stayed open to serve the region.

Not so sure... Besides we are all missing the point - whether its a bank or a shop its the more complex items where a face to face relationship is the best way of solving issues, this is what it sounds we are going to loose. As for the banks; as they strive for evermore profit everyone seems to be falling for their marketing and accepting the situation just making it easy for them for them to close evermore branches, used or not!

Yes, there is still a need for a face-to-face relationship for some transactions, but the vast majority of day-to-day transactions can be done remotely. For example, I can pay my own cheques in by taking a photo on my phone. For me, that the last remaining reason for going into a branch.

So there are still a few times when a few people need to visit a branch. But not enough to warrant having branches in every town. So they consolidate and a larger branch remains in place to serve a larger region. Yes, you might lose the ability to do your business in your local high street, but you have gained the ability to do most of your banking whenever you want from your own living room.

I don't agree that we are falling for a marketing con trick. Internet banking, or mobile banking, is much easier and doesn't entail a trip into town. I can do it over a cup of tea during the adverts on Love Island.

Chadwick wrote: ↑

Sun Jan 27 2019 4:18pm

I thought [blythburgh] was supporting the proposition that the banks and shops are closing because they aren't making sufficient profit (whether that be enough to cover costs, or enough to satisfy shareholders).

And who are those shareholders? Me and you. Maybe not directly but most likely through our pension funds or those of our employer.

Chadwick wrote: ↑

Sat Jan 26 2019 8:23pm

... Internet banking, or mobile banking, is much easier and doesn't entail a trip into town. I can do it over a cup of tea during the adverts on Love Island.

I do mine over a cup of espresso during the adverts for Judge Judy. Each to his own.

I expect that the poster in question would be shocked by the fact at how many 'complex transactions' can be accomplished online these days. After all, don't we have a new breed of fin tech banks that have no bank branches at all?

I was interested to read: "More than 10,000 jobs have been cut at Tesco since the current chief executive, Dave Lewis, took over in 2014." ...And now a further 15,000 job losses are targeted! https://www.bbc.co.uk/news/business-47023001

We used the Natwest branch in Beccles (do bank online but use branch to help keep them open) which has closed.

But Beccles has a Lloyds, Barclays, HSBC, Nationwide and Halifax open.

Other nearby smaller towns have lost every bank and building society.

In the end it is up to us to use it or lose. Which is why we make sure we spend at the corner shop more than once a week. Really nice owners and part time staff but above all the only shop left within walking distance. When I moved here in 1984 I could walk to three corner shops (on a corner so true corner shops). One of them had been a post office as well when 'im indoors lived here. I could also walk a short distance to a fruit and veg shop cum pet shop, chemist and wool shop. There was also a newsagent cum corner shop and an antique shop. And when 'im indoors moved here there was also a butcher a few yards away. Now just the one corner shop is left but seems to be thriving, rare to go in on any day and not to find other customers there.

The shops have gone because they were not used enough but have helped the last corner shop survive.