Smart retailers can take advantage of ‘enforced localism’

In adversity, opportunity – the high street has been hard hit by lockdowns, but there are new opportunities in some categories for retailers, large and small, which have the cash available.

What’s happening? 

With many office workers no longer commuting, their spending has shifted from employment hubs to local high streets. 

• B&Q has developed several versions of a smaller store offering core products to different communities, from high density city populations to rural catchment areas.
• Pets At Home is planning to open 25 new small stores on local high streets around London to meet the city’s particular needs, as cat owners outnumber dog owners.
• Independents can also benefit from “a prosperity ripple” away from city centres and good property deals that are currently available. 

Key quote

“The main thing is for brands to ensure that they are engaging with their shoppers in the most productive way to meet their demands. Online has grown significantly, but local high streets can provide another route, too” – Andy Metherell of retail property advisors Harper Dennis Hobbs.