I have touched upon the state of retail on the High Street before – notably just before Christmas when Portas issued her queen of shopping report. The blog was here.
As the retailers start t announce their Christmas trading stories, it looks like we are going to see some big changes in the next 12 months,. Some of the retailers we have become used to seeing as part of the street scene may be on the move – in some cases it may already be too late.
We may have to come to terms with a different feel to where we shop. In the next 12 months we could see a number of big names depart – La Sensa, Thorntons, Blacks, HMV, Argos, Mothercare, New Look, Peacocks and Superdrug are all under the cosh. Some of these guys have big box shops – the departure of which will make our Cities seem different places. And not in a good way!
The general view seems to be that felt sales will be good. Of course the retailers are facing an attack from the internet. Sales in some online stores have seen big increases – John Lewis shifted £600m of stock – with a 27% increase on sale in December. Their Christmas trading statement is here.
It only seems like yesterday when I was involved in the letting to Waterstones on Bridlesmith Gate in Nottingham – that was in 1998 – six years before Amazon even existed. It was a fantastic concept based around ‘dwell time’ – in other words if you keep people in your store – they will spend money. 20 minutes was the tipping point. I still like the store – but guess that I buy four books on Amazon (three of those on Kindle!) for every one I buy in Waterstones.
At the same time though the major supermarkets just seem to be growing – they are bidding for land considerably in excess of where residential ever were – even at the peak of the market.
It will be an interesting 12 months – I wonder what Nottingham will look like this time next year?
