The retail sector is struggling. Bellwether Next has returned to recession-stricken times with its first fall in profits since the recession and John Lewis, long held up as a bastion of the industry, is cutting jobs and its famous staff bonus in order to safeguard its future.

Meanwhile, a slew of smaller high street rivals, including Jones Bootmaker, Jaeger and Blue Inc, are shutting shops and being put up for sale as their owners look to secure a means of survival.

So what's causing the chaos?

1. Changing spending habits

While shopping used to be considered Britain's unofficial national sport, this nation of consumerists has switched from spending on clothes and shoes to leisure pursuits, such as eating out and holidays.

Despite discretionary income remaining the same, retail spending fell by 1.2pc last year, with fashion sales suffering a 2pc slump - the steepest decline since the credit crunch of 2008.