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Despite the continuing technological revolution, we remain social creatures. Many of the office-bound working population could work from home electronically connected to the workplace/clients/the market, but it’s not only the employer’s need to ensure employee productivity; we all need a bit of actual face (to-face) time, a chance to chat, explore ideas and gauge reactions. So, with the daily commute still very much a reality, the shopping population is regularly on the go.
Network Rail has embraced this thought and not surprisingly seen station retail sales results grow by 4.74% like-for-like from July to September 2013. Compare this with BRC’s measure of high street sales, which increased only 1.5% across the same period and it seems we still want to shop, it just needs to be ever more convenient.
Taking this a step forward, if you can bear the thought of lugging your groceries on the tube, whilst avoiding your fellow passengers armpits, swinging handbags and selfishly placed feet, then take advantage of Asda and TfL’s recently announced partnership that will see Grocery Click and Collect services at six underground stations.
At SnapShop, we’re also monitoring the move to smaller formats. Some of us remember when there was a Tesco of old on the high street. Not only is it back, and has been for a while, but others are following the lead:
• Morrisons has successfully refined its M-Local model and is moving forward with the format based around fresh food and friendly service
• The Range is understood to be considering opening smaller stores of 20,000sq ft on the UK’s high streets
• TGI Friday's is preparing to roll out smaller outlets in university towns and at stations.
• Topps Tiles is launching a trial of new smaller-format stores next year
• Wahaca is to launch a new on-the-go takeaway concept called Burrito Mama
• Wilkinson has announced plans to launch a smaller-store format
The high street isn’t dead, it just needs conveniently relocating and reshaping.
FSP’s knowledgeable consultants and vast information resources can help retailers decide on their location strategy and towns, shopping centres and travel hubs decide on their tenant mix. Just ask.
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