My wife and I run a shop involved in the retailing of women’s clothing primarily for occasion wear with evening and casual wear too. We’ve been in business now for 10 years from the same location in central Edinburgh. In this time retailing has seen a dramatic increase in online activity with consumers viewing and increasingly purchasing online. Retailers have responded with ever improving websites and online marketing strategies or faced decline and closure. The global financial crisis of 2007-2009 with the accompanying austerity measures enacted by the UK Coalition Government since 2010 along with tighter availability of credit to consumers has changed shopping habits generally. (A never ending tram project in Edinburgh doesn’t help either).
Maintaining a niche in which to survive is critical for small independents as is building a global brand for the majors to avoid the merciless competition of online and discount retailers via comparison websites. Optimisation techniques to achieve a high ranking in a Google search are important to enable potential customers to research independent retailers before deciding to visit in person. Good buying and salesmanship with price as ever remain important especially when peoples’ disposable income remains limited. Retailers can also use pop-up adverts and increasingly personalised adverts using data surveillance and gathering techniques. Offers and adverts can be sent to customers’ mobiles using wi-fi connectivity to encourage purchases in the shop or online. Increasing customers’ choices are being met by the manipulation of their needs and preferences- the fickle fed by the fastidious.
The financial crisis and austerity measures coupled with the internet shopping revolution of the last few years have caused vacancies on UK high streets to escalate with many retailers collapsing into administration both multiple-retailers and small independents. In secondary locations campaigns launched to save high street shopping are struggling. However in prime locations a new trend has emerged to cope with high rents and brand or price conscious consumers. Property owners in the London’s West End like the Crown Estates are encouraging pop-up shops for new brands to rent their units in areas such as Knightsbridge for 2 weeks or so to help introduce new brands which otherwise would struggle to attain the foot-fall in areas where they perhaps could afford to rent. This on the ground exposure along with online advertising and web-presence gives new entrants to retailing a chance to attract customers in sustainable numbers in the early period of their development.
Pop-up shops aren’t themselves a new concept often appearing in shops that have been vacant for a while selling specialist or discounted goods. Locating temporarily in a prime location in London or elsewhere is a newer and positive idea as long as landlords remain kindly with their rental expectations and give new starts a chance- today’s pop-up renter maybe tomorrow’s anchor tenant. Sophisticated connected fleet-footed consumers’ will demand the choice both online and in store.
LDC August 2013
Please visit our own shop at www.linzicrawford.com or 27 Dublin St, Edinburgh EH3 6NL also on Facebook too.