My street
February 6th, 2009
The recent economic turbulence will create a new and more localised high street……
According to Experian one in seven high street shops could be empty by the end of the year. Thus, as the supply of retail space increases, rent rates will come down but……these spaces won’t be populated by your usual household retail brands.
With more of us buying homogenous products (that don’t require a specific personal buying experience) online during the recession, remember Amazon’s sales rose 9% in the last quarter of 08 and are expected to grow in the first quarter of 09. How many of us will go back to a high street retailer to buy these homogenous products?
The potential for a high street retail decline, leaves the door wide open for a high street recovery led by local providers who can push products and services that demand that personal touch….
This years high street may have less phone shops and electronic retailers but more specialist food suppliers, boutique fashion stores and even the return of your local butcher….
David Killick
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- Posted in Consumer Trends
I know I’m not the only one who thinks that the Financial Media are loving this economic situation but it’s getting beyond a joke. Honda’s Swindon plant was all over the news last week when they reported that the factory was ceasing production for 4 months. However I know that some engineers will still be going into work to make sure it’s ticking over for when full production starts again. Even if they aren’t actually going to work they are still being paid; and in fact far from sitting at home watching Trisha they are giving their time and engineering skills to support local community projects, such as renovating Wiltshire schools. Why not report this to show that there can a positive out of a negative? We need to see more balanced reporting as there is some good news out there, and I think people might just start responding positively to hearing it.
We’re pleased to see that all this talk of miserable economies hasn’t stopped some great new products coming to market. You’ve just got to love this bike from Swedish designer Torkel Dohmers. In addition to a roof to protect the cyclist against inclement weather (or snow!), the bike also has built-in lights at the front and back, which are recharged using solar panels in the roof.
Brainboxes at MDI, a European company founded in 1991 by a French inventor, have produced a design for a car run on compressed air. The company suggest the car could achieve a fuel economy of 106 miles per gallon while reaching speeds of up to 90 mph. This innovation has come as welcome news to U.S motorists concerned with spiralling fuel costs, while development of the technology could lead to changes in the automotive industry worldwide.
The London Lite reported on the 5th Feb that sales at the Buttercup Bakery in Kensington are soaring in the credit crunch. Orders for “treat cakes” have increased as they are given in place of expensive leaving presents to workers who have lost their jobs.
‘Sarah’s smash shack’ has opened in San Diego to help relieve consumers who are stressed during the credit crunch. Consumers can choose the items they want to smash from the Smash Shack Menu, from fragile table ware to the house special which consists of 15 places at a cost of $45. At this stage they are not actually sure whether the credit crunch has helped or hindered the business- people are undoubtedly more stressed, but they may not have the money to spend on the luxury of smashing plates…
