![]() Word-of-mouth builds your community reputation, so never turn down an opportunity for a stall at a local festival, a place in a newsletter, or a networking event. Sharing premises saves costs as well as providing a better shopping experience. For example, a retailer can team up with a caterer to create an independent bookshop that offers a cracking cake and cuppa. If services are outperforming goods, think about working with these businesses. Barbers, beauty salons, coffee shops… these were all big high street winners in 2017. Local people still come to the high street, although not necessarily to shop. The high street community is keyĪs you widen your world, you can also zoom in closer and focus on your local community. There’s a lot to think about, including logistics and stock control but in the long-term an online presence is a must-have, not an add-on, and can support your wonderful bricks-and-mortar business. Running an e-commerce website is easier than ever, and there are online platforms available to help small businesses. You’re never going to be Amazon, but, you can up your online game, widening your market and building loyal followers. However, don’t dismiss the idea of online sales. Independent retailers could learn from their mistakes by connecting to the nitty gritty emotions of what customers enjoy about their shopping experiences. Simon Thomas of administrators Moorfields Advisory told the BBC that Toys R Us failed partly because the stores were 'impersonal'. Simple touches like a pot of coffee on the go or a children’s art corner make shopping an enjoyable occasion, and the big retailers don’t have the monopoly on loyalty schemes. You can enhance the shopping experience quickly, easily and usually inexpensively with a easy-to-implement ideas. But when it comes to experience, the imaginative independent has a great advantage. Yes, value is harder to offer if you don’t have the giants’ buying power, and it’s arguable whether the corner shop or a supermarket delivery service is the most convenient. Paul Martin, KPMG’s Head of UK Retail, says that shops will struggle if they don’t offer ' value, convenience or experience'. Today, savvy shoppers aren’t just hitting the streets to spend their hard-earned money on the latest must-haves, they have an increased appetite for getting unique experiences from their retail therapy. The report looked at a number of other factors which may be partly responsible for the high street’s decline, such as increasingly expensive business rates and rents, higher staff costs and the weaker value of the pound.īut most notably, this report pinpointed a significant shift in consumer behaviour on the high street. Back in 2008, online was responsible for just 7.7% of sales. And when high street stalwarts like House of Fraser and Marks & Spencer are in trouble, everybody worries.īut without these flagship stores, will people stop coming to the high street altogether?Ī report from the Centre for Retail Research (CRR) highlighted the growth of online shopping in the last decade. Toys R Us and Maplin are no more, and Mothercare, New Look and Homebase are among those closing branches. So far, 2018 is set to have the highest number of store closures in a decade. ![]() So, could small businesses like yours be the key to preventing the decline of town centre shopping? What’s the situation on the high street? However, in a study carried out by Visa, 53% of indie retailers revealed they remain optimistic about the future of their high street, so the outlook for the independent shop doesn’t necessarily seem gloomy. With the major high street players announcing poor results and store closures, and some even going into administration, it’s no surprise that smaller retailers are wondering how they’ll survive in such an unpredictable shopping environment.
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