Retailers urged to collaborate

Independent Retailer Month

As Independent Retailer Month enters its third week, retailers are being encouraged to recognise the benefits of collaboration on the high street.

The annual campaign, now in its fourth year, has seen hundreds of small businesses running events and activities to raise awareness of their local high street, with many working together to offer excitement and enticement to their communities.

Springboard Research for the British Retail Consortium last year found that high street footfall was down 26% between 2007 and 2013 during traditional hours. However, it should be noted that the same research revealed growth in numbers between 5.00pm and 8.00pm.

Another study, conducted by the Centre for Local Economic Strategies for the FSB, discovered that for every £1.00 spent locally, 50-70p recirculates back into the local economy. If that £1.00 was spent out of town, a mere 5p would trickle back to the local community.

Clare Rayner, The Retail Champion and Founder of the Support for Independent Retail campaign, says: “Other than opening later in the evenings or physically pushing people through the shop doors, independent retailers should collaborate to figure out ways to bring the excitement and enticement back to the high street.

“By working together to find fun, original ways to promote each other, local independent retailers can engage the public’s interest and help them to understand the benefits of shopping locally.”

She continues: “Collaborative events can go a long way to bringing a community together and increasing footfall on the high street. Although some customers may get involved in the events and activities for July only, many more will remember the experience and find themselves shopping in their local stores again in the future.

“Consumers need to be reminded of the advantages of shopping locally, and how those advantages benefit not only the smaller businesses and boutique shops, but the local economy as a whole.”

With Expedia research for ATCM showing that an increasing number of consumers are looking for leisure experiences alongside their shopping expeditions, it’s imperative that independent retailers join forces and create ideas which will give customers the same level of entertainment and social interaction that they would find in a shopping centre.

Clare concludes: “By offering unique shopping experiences and a range of high-quality products, independent businesses already have the upper hand on shopping centres and out-of-town retailers – it’s about time we joined forces to make sure that consumers recognise that too.”