Isimi Oludipe
The British high street, a familiar and beloved part of local communities, is facing a period of significant change, although it can be argued that it has been a long while coming. The impact of the pandemic and the cost-of-living crisis, coupled with the rise of online shopping, have forced high-street businesses to adapt. While reports of the high street’s demise may be exaggerated, evidenced by the fact that people still visit their local high streets an average of 81 times a year, there is no doubt that it is undergoing a transformation. The future of the high street hinges on its ability to evolve, offering a unique blend of experiences and community engagement that online retailers cannot replicate.
While supermarkets remain the most popular destinations. Accounting for 40% of cities, cafes and charity shops are gaining traction, particularly in cities like Edinburgh and Bristol. This trend shows a shift in consumer behaviour; people are looking for experiences that go beyond mere transactions. The high streets’ future may lie in its ability to provide a sense of community, offer unique experiences, and cater to the growing demand for secondhand goods.
Convenience is a major draw for high street shoppers, with 36% citing it as the most enjoyable reason for their visits.
The 2023 Legal & General survey found that convenience is a major draw for high street shoppers, with 36% citing it as the most enjoyable reason for their visits. This highlights the importance of accessibility and ease of use, factors that high-street retailers can leverage to their advantage. Additionally, the survey found that the variety of shops and businesses is a major appeal, particularly for younger generations. This suggests that high streets need to offer a diverse range of options to attract a wider customer base.
The rise of charity shops is a significant trend, reflecting a broader shift toward conscious consumerism. Charity shops are no longer simply seen as places to find cheap goods; they are viewed as offering unique finds: supporting charitable causes, and promoting sustainability. Seeing as fashion trends are cyclical this is truly not surprising, trends always come back and the best way to find authentic goods would be at a charity shop. In Northern Ireland, charity shops are experiencing a surge in popularity, with one outlet reporting a 25% increase in sales and nearly one-third rise in donations. The cost-of-living crisis is undoubtedly a factor, driving consumers to seek affordable alternatives. However, the appeal of charity shops extends beyond mere affordability. Consumers, especially younger generations, are increasingly aware of the environmental impact of fast fashion. Charity shops offer a sustainable alternative, allowing people to reduce their carbon footprint and participate in the circular economy. This trend is evident in the comments of shoppers who see secondhand shopping as a way to avoid fast fashion, support charities, and uncover hidden gems.
How do high streets plan on navigating this changing landscape? While some areas have adapted and thrived, others continue to face challenges. Stockport, with its blend of community involvement, strategic investment, and a focus on creating distinctiveness indeed, stands as a success story. The Portas Review, despite its limitations, played a role in catalysing this transformation. Stockport’s success is attributed to a combination of factors, The Portas Pilot scheme, while not a financial panacea, provided a catalyst for change, fostering collaboration between local businesses and raising awareness of the town’s potential. The subsequent £1 billion redevelopment, including the arrival of new businesses and residential complexes, further bolstered the town’s appeal. However, not all high streets have enjoyed such success. Nelson and Wolverhampton illustrate the difficulties faced by towns struggling to adapt. Declining footfall, antisocial behaviour, and a lack of investment have contributed to a sense of decline.
The growth of online shopping has undeniably impacted the high street, but it has also created new opportunities. The exponential growth of online secondhand marketplaces is a trend driven by factors such as convenience, affordability, and a growing desire for sustainability. Platforms like Depop, ThredUp, Vestiaire Collective, and Vinted are capitalising on this demand, offering a vast selection of pre-owned goods and providing a platform for individuals to buy and sell secondhand items. The pandemic-induced supply chain disruptions, coupled with a growing awareness of the environmental impact of fast fashion, have accelerated this trend. Liquidity is one of the major aspects that lead to the success of online marketplaces. Platforms that effectively connect buyers and sellers, ensuring a smooth and reliable transaction process, are more likely to thrive. This underscores the need for retailers to invest in technology and create seamless online experiences.
Retailers need to demonstrate their commitment to ethical and environmentally responsible practices.
The integration of online and offline experiences is crucial, for retailers to adapt to the changing landscape. This involves creating a seamless customer journey across multiple channels, leveraging technology to personalise the shopping experience, and offering convenient services like click-and-collect. Embracing sustainability is another key strategy. Retailers need to demonstrate their commitment to ethical and environmentally responsible practices. This can involve implementing buy-back programs, promoting sustainable product lines, or partnering with organisations promoting circular economy initiatives. Focusing on community engagement is also essential. Retailers need to foster a sense of local identity, supporting local events, partnering with community groups, and creating in-store experiences that celebrate the unique character of the area. There is no one-size-fits-all solution. Retailers need to be agile, adapting to the changing needs of their customers and responding to local conditions.
The high street’s future depends on the collective efforts of retailers, policymakers, and consumers. While online shopping and the secondhand market are here to stay, the high street can continue to thrive if it adapts to the changing retail landscape. Retailers need to embrace online platforms, integrate sustainability into their business models, and offer unique experiences that go beyond mere transactions. Policymakers need to provide targeted support, addressing local needs and fostering collaboration between businesses and communities. Consumers need to continue to support their local high streets, recognizing their value as community hubs and drivers of local identity.
The high street is not dead. It is evolving, adapting, and reinventing itself. The challenge is to create a vibrant and sustainable future for the high street, one that balances the convenience of online shopping with the irreplaceable experience of local community life.
Isimi Oludipe
Featured image courtesy of Benjamin Elliott via Unsplash. Image license found here. No changes were made to this image.
In article image 1 courtesy of Becca McHaffie via Unsplash. Image license found here. No changes were made to this image.
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