Had the pleasure of attending an online forum on the Future of our High Street in association with CMS Scotland and The Herald Scotland .
Forecasts suggest that online will account for more than a quarter of total retail spending in 2020, reaching almost £90 billion – an increase of c.£12 billion on the previous year.
While a proportion of consumers will inevitably revert to their old shopping habits once ‘normality’ returns, a significant proportion will embrace a permanent change in the way they shop.
What do you think the future holds for the high street and where is investment / funding / government support required?
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Interesting Keith. I think that the whole high street debate will be accelerated due to Covid bringing new pressures on businesses finances. Many cities, (Aberdeen Council), need to up their game by making its main shopping areas a much better experience for folks. Less cars, smarter frontages, etc. Online shoopping has not peaked but I think people like to go to shops, so the role of the retailer 's shop will change to be a place where you can see & try good before collecting them. High streets will need to find new ways to attract people and become part of our lives entertainment. We are in a period of transition but for how long ?
Good post Keith. Similar to what Mark has said, I think there'll always be a place for shops, even tho they may be fewer and smaller. Some people will always want to shiope that way for certain products. So govt and councils need to be aware of how hard it is for retailers, and provide stronger support
The high street was struggling before Covid 19 hit, with shops disappearing at an alarming rate. The business rates reforms a few years ago was part of the issue. There were also issues with bigger chains, where their high street store was competing against it's own website, for example you could get free delivery (and better choice) from Curry's online, but if you went to a store they would tell you delivery was an extra cost.
There is still a place for high street stores, as people like to see and try on some of the goods they are looking to purchase. However, there needs to be some incentive for local businesses to take up lets on the high street in order to breathe some life back into the town centres.