High streets are under going dramatic changes and will continue to evolve in the next decade. Shopping as we know it is changing too and becoming ‘experience’ driven. We have witnessed this in the last decade with the rise of pop up shops, and more places where you visit to try out new activities that are not always purchase driven, building brand loyalty.
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There is so much to consider when embarking on property investment to have a positive impact, considering the overall Place Branding Strategy and how much of the town’s property should remain pure retail or be converted to office space to support the retailers.
As major stakeholders in their towns Local Authorities have come under increasing pressure to support their high streets and invest in property to halt the decline of our town centres. Who better to revitalise and inject a sense of community spirit and take the steps needed to reinvigorate failing high streets?
It has become a familiar experience for us all, you visit a town that was once a thriving place once with all the well know…
With a constant stream of retail company voluntary arrangements (CVA’s) we have been witnessing recently, changes in leadership goes with the territory which we’re seeing as a wider trend too. There is clearly an uncertainty from retailers in terms of how to drive forward a clear brand strategy.
News that high streets are dying with shops lying empty and imminent collapse of major retailers would suggest that local authorities are unaware of what is happening in their towns. The reality is that many councils up and down country are already creatively leading on the revitalisation of their town centres, working closely with stakeholders.