When Sephora opens its new UK store next week, it will mark the first time the beauty giant has been in British malls for almost 20 years. It will also underline how retailers are once more venturing into physical locations.

Of course, recent openings are far from the big expansion programs of 15-20 years ago. But even on a more modest scale, European retailers shouldn’t get carried away. Customers may be rediscovering shops right now, but the big swing back to swiping credit cards from tapping smartphones is likely to be short-lived.

ncG1vNJzZmivp6x7o7jOqKSbnaKce6S7zGimqaGenryve8Crq6KbnJrAcH6Pa2pmaGNifXR70Z6rmqGcmr%2B0edKep6GnopZ6sb7Ippiro12lsrGvzmaYq51doq6stc2gZK2glWLAornEZqSiq6SWuKZ5wKxkmqWRr7yv