Regeneration for retailers is key for survival
In a career that spans 45 years culminating in leading some of the UK’s well known chains: Wickes, Iceland, Focus DIY, I have witnessed decades where literally thousands of independent stores have disappeared. Retail vacancy rates, that’s empty shops, are running at an average of 15% which means an awful lot of unsightly gaps in our High Streets. With some High Streets doing well that means that in some parts of the country such as Derby, Liverpool and Leeds have 20% of their shops vacant. The indisputable fact is that the very fabric of our towns and cities is dying off. Independent stores that were once part of a vital hub are disappearing at a rate of 50 shops a week. Many of our once thriving High Streets are criss-crossed with unsightly brooding scars of boarded-up shops. At the same time some of the UK’s best known stores have vanished. In fact there is a veritable A to Z of “the disappeared” starting with Athena, Bejam, C&A, Dillons right through to Unwins, Victoria Wine, Woolworths and Zales. This year that list has grown with the additions of Comet and Clintons Cards.
Many were, in their time, innovative and exciting, yet all died in the end. As we enter the season of goodwill who will be next on boot hill? Retailing is in the middle of the perfect storm. Consumer confidence is at its lowest point, the economy is struggling to emerge from recession, retailers have too much space and customers are migrating in ever increasing numbers to on line and mobile shopping.
We are now in a position where pundits, campaigners, academics and the media are agonising what is happening to our shops. In a search for a “baddie” to blame the spotlight falls most frequently onto supermarket giants such as Tesco, Asda, Sainsbury’s and the like. Not content with dominating the market for groceries with a powerful combination of out-of-town centres and convenience stores the chains are increasingly starting to dominate, books, clothes, homewares, electrical goods and toys. The supermarkets are even honing in on specialist services and opening up opticians, dental surgeries and medical centres.
Whatever your view on this what is clear is that things are only going one way. More and more shops will close and there are just so many pound shops that can open. So what do we do with this redundant space? This is not a retailing problem that can be solved by a Government backed report such as the Portas review. The £5.5million Government package of support to help revive nearly 400 ailing High Streets, which was announced in July, in response to that review will not even scratch the surface of the problem. After all the money has been spent, the headlines written and the cameras have moved on we will still have the same problem; not enough people want the high street experience anymore. To be blunt it is all a waste of money and resources.
Today we are voting with our feet preferring to visit huge centres like Westfields, Trafford Centre, Liverpool One and now the new development in Leeds for retailing, eating and entertainment.The future is exciting for those retailers leading the way into on line and mobile shopping. There is definitely an Amazon in the room! Those that have been too slow to recognise this or are carrying too much in fixed property costs will find the future difficult. Next possible candidates that will struggle are names like; HMV, Argos and even Homebase all have missed the innovation time window. But in the meantime competition and the Comet stock sale should mean great offers will be available this Christmas. However, the challenges that face our town centres will go on well into the future and these towns need to find other community based solutions to make use of these assets and regenerate the area. They cannot be saved as a destination for retailing alone. Much needed affordable housing, turning our High Streets into domestic living centres would be a good place to start.
Bill Grimsey Author: “Sold Out” www.vanishinghighstreet.com and ex CEO Wickes, Iceland, Focus DIY and Park n Shop Hong Kong
Usually I don’t learn article on blogs, however I wish to say that this write-up very pressured me to try and do so! Your writing taste has been surprised me. Thank you, very great post.
Excellent site. Lots of helpful info here. I’m sending it to several buddies ans also sharing in delicious. And certainly, thanks to your effort!
Useful information. Lucky me I found your site unintentionally, and I am surprised why this accident didn’t took place in advance! I bookmarked it.
Thanks for some other great post. The place else could anyone get that kind of info in such a perfect means of writing? I have a presentation subsequent week, and I’m on the look for such information.
Howdy very nice website!! Guy .. Beautiful .. Wonderful .. I’ll bookmark your blog and take the feeds also?I am glad to search out so many useful information here in the publish, we’d like develop more techniques in this regard, thanks for sharing. . . . . .
Thank you for another informative website. The place else may just I get that kind of information written in such an ideal method? I’ve a venture that I’m just now running on, and I have been on the glance out for such information.
Attractive element of content. I just stumbled upon your website and in accession capital to claim that I acquire in fact loved account your weblog posts. Anyway I’ll be subscribing to your feeds and even I success you get admission to persistently fast.
I don’t even know the way I finished up here, however I believed this publish used to be good. I don’t know who you are however definitely you’re going to a famous blogger should you aren’t already. Cheers!
Hello there, You have done an incredible job. I will definitely digg it and in my view recommend to my friends. I’m confident they will be benefited from this web site.
This is a topic that’s close to my heart… Cheers! Where are your contact details though?
You can contact me through the web site. All the best Bill
Just desire to say your article is as amazing. The clarity for your post is simply great and i can suppose you’re a professional in this subject. Fine together with your permission let me to grasp your RSS feed to keep up to date with forthcoming post. Thanks 1,000,000 and please keep up the enjoyable work.|
I have been exploring for a little for any high quality articles or blog posts on this kind of house . Exploring in Yahoo I at last stumbled upon this web site. Studying this info So i’m happy to show that I have a very excellent uncanny feeling I discovered exactly what I needed. I so much undoubtedly will make sure to don?t disregard this website and provides it a glance on a relentless basis.
Magnificent goods from you, man. I have have in mind your stuff prior to and you are just too excellent. I actually like what you have obtained right here, really like what you are saying and the best way by which you say it. You are making it entertaining and you still take care of to stay it wise. I can’t wait to read far more from you. That is really a wonderful website.
Excellent website. Lots of useful information here. I am sending it to several friends ans also sharing in delicious. And of course, thanks to your effort!
Magnificent goods from you, man. I’ve take into account your stuff previous to and you’re simply too fantastic.
I really like what you have acquired here, certainly like what you are stating and
the way wherein you assert it. You make it enjoyable and you still take care of to stay it smart.
I can not wait to read much more from you. That is actually a terrific web site.
Needed to compose you that little bit of note to help give many thanks yet again for your remarkable knowledge you’ve shared above. It is shockingly open-handed of you giving publicly what numerous people could possibly have sold as an e-book in making some cash on their own, most importantly considering the fact that you could have tried it in the event you desired. The principles likewise worked to be the fantastic way to be sure that other people online have the identical fervor much like mine to realize more with regard to this matter. I believe there are a lot more fun times up front for folks who looked over your site.
Thank you, I have just been searching for information
about this subject for ages and yours is the best I have
discovered so far. But, what in regards to the bottom
line? Are you sure about the supply?
I’m amazed, I have to admit. Rarely do I encounter a blog that’s both educative and entertaining, and without a doubt, you’ve hit the nail on the head. The problem is something which too few people are speaking intelligently about. I’m very happy that I came across this in my search for something concerning this.