Shops opening, shops closing, buyouts, investments, change of use, sales down, sales levelling, sales up… our high street is definitely evolving. A lot of what I’ve seen or read about over the last 4 weeks has been to do with the type of retail that is working.
I had a really interesting chat with the Marketing Director of a large scale retailer in London (Not French Connection). They have a very specific female market, recently expanding into menswear and children / babies. It’s a relatively high price point, not luxury. They have been quick to identify the way forward – they are expanding bricks and mortar locations and simultaneously reducing the floor plate. They want a showroom environment that fits with their “click and pick”; a showroom with fitting-room that allows the customer to pick up all the things they’ve ordered online, immediately refunding the pieces that don’t fit. As a retailer they are actively looking for small units in affluent areas with good transport links (and parking); whilst actively looking for employees that show initiative, are convivial and adapt well to change.
A requirement that makes complete sense to me – thankfully not every retailer falls into the same bracket.
The larger stores are increasing the floorspace devoted to food retail, restaurants, cafes and bars. You will have noticed the increase in coffee shops.
The luxury stores including jewellery, fashion and footwear are typically standing their ground.
The middle-market are not coping so well when there’s no social conscience.
The less expensive stores are holding there own although sales are levelling out, my guess, this will be a continuing trend.
The local boutiques with local brands (that own their store) are thriving.
The local boutiques that are renting are getting by – just.
These are of course huge generalisations. Starting this week and over the next 6 months I have asked local (central Scotland) bricks and mortar retailers for their opinion on their “Dream Retail” opinion; it should make for interesting insights.
If you know someone that would like to voice their opinion on town centre retail and be featured, feel free to pass on our details for a chat.