The Internet has changed how we shop. More and more of us shop online instead of in "bricks and mortar" stores. In the United Kingdom, this is having terrible consequences for the traditional high-street store. A business leader has released a report containing worrying statistics on the future of U.K. retailing. CEO Bill Grimsey warns that 47 per cent of chain stores (20,000 shops) are "horribly stressed financially". He predicts a quarter of these will be gone within three years. Mr Grimsey also said the move away from traditional shopping has led to "ugly" town centres.

Mr Grimsey gave reasons for the decline of Britain's downtown areas. Over 40,000 shops are empty – 11 per cent of all retail space. Stores have not risen to meet challenges from the Internet. He said stores are stuck in the past and are not looking at the future. They need innovative ideas to bring customers back. He said companies were too "nostalgic". Another reason is that multinational companies are taking money away from local areas. He said it was difficult to keep local money within the local economy if "we are listening too much to big firms".