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All High Streets

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Our mission is to help you love your high street, shop local and support your community.

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Post Pandemic Retail

What does post-pandemic retail look like for you?

After a year of closures for stores deemed non-essential a large proportion of  consumers have shifted to online shopping.

Retail week this week examined the post-pandemic priorities for the industry. Here is our round up and take-away for small businesses.

      1. Make sure you have an online presence.

        Online was a primary sales driver during lockdown and this will continue as online will account for 27.1% of retail sales in 2021 [source The centre of retail research]. 
      2. Diversify the role of your physical store.

        Stores/Shops; remained closed for the best part of year. During lockdown what role/purpose did the space serve for your business? It maybe time to think about the purpose of your store in your community, create unique experiences that drive customers to your physical space. Continue to support those online customers with things like same day click and collect. Think seasonal pop-ups or local partnerships.
      3. Does your price point target the frugal shopper.

        Your pricing strategy will be key in a post-pandemic world, as the consumer is likely to have recessionary and frugal mindset when it comes to spending. With OnePOll reporting 60% of UK adults are more conscious of price/spending. Value is key. Does your current range support provide value for the frugal shopper?
      4. What are your green credentials?

        Sustainability, also remains at the forefront and will continue to be integrated into everything we do. During lockdown as the world came to a stand-still we had fewer cars on the road we had significantally lower pollution rates has highlighted the benefits of looking after our planet for all of us. We know small businesses have a great sustainability/ethical story to tell. What’s your story?
      5. Invest in your people/staff.⁠

        Whilst supermarket staff were hailed as key-workers the majority of none-essential retail staff were furloughed. In a year which wellness and welfare were the focus rewarding  and investing in employees will be key post-pandemic. Think about how you can upskill or retrain existing employees to support your multi-channel offering.
      6. Think local suppliers to avoid disruption.⁠

        The supply chain was severely disrupted during COVID-19, Brexit, and the most recent Suez Canal blockage. This combined with the shift in demand meant lots of suppliers struggled with fulfilling demand. The biggest impact early on was from package suppliers as the products were from China. Is there a local supplier/producer nearer to home to avoid future disruptions?

 

COVID-19 has created a challenging year for so many small businesses. As we now make the return to normal, our advice to small businesses is to think about the new landscape with a multi-channel approach. Ensure your team/people remain engaged and are empowered in your approach, take your customer on your new journey with you, innovate and find new uses for your stores, and a flexible approach to your supply chain will mean you can win in a post-pandemic world.

 

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