Payday weekend bonanza with Bank Holiday thrown in as well!

Is bonanza time for most retailers this weekend as we have the weekend, it's a payday weekend and it's a bank holiday weekend. And I can see many times and retailers making the most of it. There are offers, events, fairs and all sorts of things happening all over the country as retailers try to compete with other attractions for people's time and money this weekend.

The national chains seem to have set themselves up for a big weekend, so it's time for the small independent retailers  that make up much of my audience to up their game.

As I've said many times before in my blog, the first step on the road to payday weekend success of planning your staffing. With me being away for three weeks and forcing myself to stay off the internet I haven't blogged this early enough but there are always lessons to be learnt and this will stand you in good stead for all payday weekends, bank holiday weekends and other events throughout the year. Once you have your staffing sorted, it's time to look at how you can offer something different and special at this time. I've already stated that you will not just be competing with other retailers but other attractions on a weekend like this. Giving families a reason to visit you rather than a park, a museum, a theme park or the seaside is part of ensuring success. So I'd say having something exciting for the children is a great idea for this weekend. What you do may well depend on what type of retailer you are, but be imaginative and think about what can keep families in your store for longer.

It's also a god idea to ensure that any offers you run coincide with a weekend such as this. If you are planning a sale, a but one get one free or other promotion them starting it this weekend is a great idea. It gets people through your door that may not normally shop with you and give you a chance to convert then into loyal customers. It will also give you a chance to cement your relationship with your existing customers who may need a little push to spend more with you.

The final piece in the jigsaw as far as I'm concerned is to make sure that your team are motivated and enthused about the weekend trade and any event you are hosting. Get them involved in the ideas process and you will get their buy-in for the event itself. If it's fun for staff and for customers then you've probably got a winning formula.

Keep this blog entry and re-read every time there's an event coming up - you'll be amazed at how useful it can be!

NOT EVERYTHING CAN BE BOUGHT ON THE HIGH STREET

We're a fashion retailer - we just don't sell clothes

Paperchase chief executive Tim Meglund was quoted yesterday as saying the above quote - "we're a fashion retailer, we just don't sell clothes" about the company as they posted their annual results.

I have long believed something similar of every company - that they are all marketing companies, that market different products or services.

• An estate agent is a company that markets properties
• A retailer is a company that markets their own or someone else's products
• A manufacturer is a company that markets it's products to retailers and consumers

For me, that is the raisin d'être of every company - to raise demand for their product or service by marketing.

What does this mean for me

You have a couple of options, depending on the type of products you sell.

If they are made by you, then you need a marketing campaign to raise awareness and demand. You can use a local marketing consultancy, usually at a reasonable cost, or go it alone. Social media, word of mouth, offering incentives, local radio or newspaper advertising, handing out leaflets - the list goes on and on. You will know what us a good fit for your business.

If the products are made by a larger manufacturer (and I'm talking the real big boys) then you have a reliance in the fact that these big boys will be spending money on advertising already. You can mirror their advertising with your promotions. For example, if Plenty kitchen towels are putting out TV adverts, newspaper adverts and a social media campaign (as they are now) then this is a good time for Plenty to be highly visible to your customers, and perhaps offered on a promotion. Again, you will know how best to make this work for your customers, from a choice of the options above.

So, don't just think of yourself as a retailer - there's a little fashion retailer and a little marketer in all of us.

Not everything can be bought on the High Street - MP3 version of NOW That's What I Call 21st Century

Ensure your team know exactly what you expect from them

As the title says, I urge you to let your team know exactly your expectations if them day-in, day-out. As a leader you should have a clear plan of your goals and ambitions for the store you are running and ALL of your team should know 1- what these are, and 2- how you will achieve them.

This should be brought about by taking several steps-

• Decide what exactly it is that you want to achieve
• Work out basic steps to get there
• Plan an overview meeting with your team at the outset to communicate the above
• Have regular progress discussions to keep your team informed and keep their actions on-track
• Have daily discussions with team members regarding their input into the longer term goals

Leadership style

For the good managers, this may seem quite basic, but it doesn't happen in a lot of retail environments. Your ability to clearly communicate what you want your team to do and how you want them to do it is the very basis of your motivating management style.  A stranger should be able to walk into your store and ask every one of your team what your expectations are and get the same answer.  Now ask yourself - is this true if you and your team?  If not, then please take a loom at the steps outlined above and work through them in order.  It will make you think about your business, your goals and your leadership style.  The right results will only come if everyone is working together to achieve them.

Adapting this style

Once you have this as an ongoing part of your team's day, as in working towards these goals, then the next step or adaptation is to get your team to have a greater input into the goals.  They can challenge you and each other and this, in turn, empowers them to inspire each other.  Taking on these challenges and taking risks within a supportive framework make the job more interesting and make the team more likely to grow together and stay together. The working relationship between your team is vital to the vibrancy if your offering to customers.  Anything you can do to nourish that is taking a massive stride forward.

Is it time for a major retailer to champion the High Street?

He question us rhetorical, but needs to be asked anyway.

In the light of Marks & Spencer's disappointing results today, does someone need to take a stand?

Is there a retailer out there that will say - "Actually we want to do our offline business solely on the High Steet."

Traditionally I would say that Wilkinsons, jewellers, the banks and bookmakers are High Street stalwarts.  Will one of these emerge from the pack and put their wholehearted support behind our town centre High Streets?

Let's have a positive mood to lead the market forward in saying we will protect our traditional High Streets and begin lobbying the government to do more to protect it.

How to increase town centre High Street footfall

Figures released today have shown that retail footfall dropped by 0.1% in April.

However footfall in out of town locations rose by 4% - the 4th month in a row that there had been an increase.

This is more evidence that the government 's town centre first policy is not working.

So what next.  I've looked at certain points in prior blogs relating to how this can be tackled.  Changes to the business rates in vacant shops and incentives from government to help local councils provide free parking are two ways that I think will have a massive impact.

The march of Click & Collect should also see some improvements in town centre footfall and sales figures.

What about YOU as a retailer - what are you doing to keep your High Street vibrant?

Do you have a town centre retail committee?

If so, are you on it?

Are you organising events and incentives to promote your town?

Do you cross-refer to other local retailers?

I think a prime example of the last point is  linked to weddings. A florist should always have a link to a bridal gown shop, a limo hire company, a local wedding cake company - and vice versa.

Local communities of like-minded retailers are stronger together.  Hosting town centre events for Easter, Christmas, Mothers Day, etc will make the whole town sing, encourage people to visit many stores and increase both footfall and sales.

Do this in addition to the moves I have previously outlined and there's a profit to be made!

Councils 'ignoring town centre policy'

The Association of Convenience Stores have said that since the "town centre first" policy was launched, 76% of approved floor space was out if town.  The policy was Government guidance to help keep our Hugh Streets vibrant and to consider the impact of planning decisions on town centres.  The Association claims that local councils are ignoring planning guidance.

The Government needs to go further than this if they want to maintain the vibrancy of town centre High Streets.

They should give cash to councils that make their High Street parking areas free for people that spend on the High Street. The cuts that central Government has made to local councils has forced them to charge for every service and try to make their own money in every way they can.  This affects people's choice of whether they go to the High Street, pay to park and always have an eye in the clock, concerned about a parking ticket. The contrast is out of town, free parking, plenty of time and often more choice.

To compete, High Street have to start with the parking issue.  If you provide free parking for those who spend a certain amount in the town, maybe get your parking attendants to be a little more human and sort out the staff parking situations then it will go a long way to redressing the amount of floor space approved in town centres, as shoppers and retailers will want to return.

Can the Government be radical on landlords with vacant shops?

It seems such a shame when there are rows of empty shops in certain Town Centres.  In my local Town Centre there is a shopping precinct and there is a string of shops with no tenants.  There is a relief on paying rates for the first 3 months - and I agree with this, as it can take a little time to find tenants and find the right tenants.

Where I propose that the Government push a little harder is after the 3 months have passed.  I suggest that business rates in empty shops go to 150% of what they are when occupied - what greater incentive would there be to ensure landlords find a tenant and keep our High Streets vibrant and full if choice.

Morrisons slashes prices, but fails to find its niche

Morrisons had an awful year, last year and they've decided to fight the discounter with discounts.  Unless they can undercut retailers like Aldi and Lidl that spend far less on their shop fits and staffing their stores, then they may struggle with this strategy.

It's the 2nd from last sentence that highlights a real need for expenditure-

"A lack of online and convenience store presence has also left the business exposed"

There's plenty of vacant High Street property out there for Morrisons to kill both birds with one stone.  Open convenience stores with online terminals for Click & Collect customers.  It will get them back on a par with the big boys, rather than trying to fend off the discounters snapping at their heels.

Not everything can be bought on the High Street - 100 Kindle books to read in a lifetime

Asda gets in on the Click & Collect boom

I have long been an advocate of the Click & Collect services offered by High Street stores to access a full range of products in perhaps a smaller outlet.  Boots and Next in particular have seen these offerings as successful.  Now Asda have announced plans to increase their "Click and Collect points" by 1,000.

http://www.bbc.co.uk/news/business-26918527

This is a huge growth area and will continue to grow both your offering, and the High Street.

I have seen research by an unnamed High Street retailer that the average customer spends approximately a further £8 when they come into store to collect their goods.  That's extra income on both counts that can't be sniffed at!




Not everything can be bought on the High Street - Audible by Amazon

Recycling empty shops is key to the future vibrancy of the High Street

The below article on the Management Today website seems to bemoan the fact that the High Street has spawned Charity Shops and Betting Chains, but the picture is much more complicated than that-

http://www.managementtoday.co.uk/news/1286363/high-street-shop-closures-dropped-80-last-year/

There needs to be a progression away from shops that sell products or services that we can find cheaper and easier online towards places that offer an experience. product or service that we would rather see or circumstances dictate that we can't do online.  On the "Risers" side of the chart are great examples of this-

Hotels
Although we mainly book these online (see the decline in travel agents on the "Fallers" side of the chart) we can't stay in a virtual hotel.  Good quality basic accommodation at competitive prices will always attract visitors to the correct locations.  The success of Travelodge and Premier Inn are testament to this.  Having a budget hotel in or near your High Street will provide you with extra trade.

Convenience Stores
We buy this at our convenience, as the name states, so it's not a pre-planned online purchase.  As the supermarkets develop their Click & Collect offerings via convenience stores then this area will get bigger and bigger.

Cheque Cashing
This has similar background to convenience stores, as there is a shorter run-up to this decision and the nature of the business and clients lead this to being a face-to-face transaction.  As technology develops, this may be an area that could go online, as was reported last year, with banks allowing customers using technology to pay in cheques.

http://www.independent.co.uk/news/uk/politics/treasury-unveils-smart-way-to-cash-a-cheque-take-a-photo-on-your-phone-and-mail-to-the-bank-9025350.html

Sports Goods Shops
I feel this one area is on the list due to the expansion of Sports Direct over the last year.

Bookmakers
This is the growth area that I find most startling on this list. And with the advent of virtual gaming machines on your smartphone and online betting accounts that you can access from anywhere, is the one area that I don't see being a long-term upward trend.

The areas that have seen falls are areas that have seen a large growth online, such as travel agents, recruitment agents, video libraries and photographic stores.  This will only continue, but regeneration of our High Street into something that is fit for purpose in the modern World is essential.  I have mentioned Click & Collect before, and this is a great way of combining online and High Street parts of a business.  It combines the best parts of the online experience (convenience and price) and removes the worst part (paying for and waiting for the delivery.)  If you are not offering this service now, then you must seriously consider it.

Online-only retailers, such as Amazon are rumoured to be setting up demonstration stores where you can try the latest games console, for example, then order it there and then for home delivery or Click & Collect.  On a recent visit to a shopping centre on a weekday, the only 2 shops that were busy were Build A Bear and the Lego store.  Both were offering an experience, like the demonstration store.  Offering your customer an experience, whether that's building your own soft toy or building your own Lego characters, gives them something m ore than a transaction - it's an event.

Another stores that I have seen similar experiences are Sainsbury's, where I was offered a croissant with jam and then told which croissant and which jam, to enhance my experience (and make me buy some!)

Then there are the beauty stores (Boots are good at this) where they offer you a makeover, show you online videos with make-up tips and then sell you the relevant products.

None of these things can be experienced online!

Not everything can be bought on the High Street - Kindle edition of The Book Thief

The Budget 2014 - how does it affect the High Street? and Next's increase in profits

The Budget

The Chancellor George Osborne outlined The Budget for the upcoming tax year yesterday.  What parts of it affect retail and in particular the High Street?

Well, in my view, it's a budget of small measures to inch us further along the road to recovery.  The 1p cut in beer duty, the halving of tax on bingo and the revamp of the savings and pension rules will bring some people back to the High Street, which can only be good news.  As they have a beer, play bingo and sort out their finances, they will spend time in cafes and spend money in shops.  This knock-on effect will be marginal but will help.

There is also the slight boost for some retailers themselves in the incentives offered for expoirting and investment-

http://www.bbc.co.uk/news/business-26642445

Next reports rise in annual profits

http://www.bbc.co.uk/news/business-26660925

The biggest rise was in the Next Directory part of it's business and I believe that many High Street retailers can learn from their Click & Collect and in-store ordering systems particularly.  These two areas a great offering, where you can offer your entire catalogue to customers of even your smallest stores and have them there waiting for your customer to collect.  It works well with many retailers (I particularly like the offerings of Boots and the big supermarkets with this) and can boost your trading platform.

You can offer an online or in-store experience for a customer, for items that you may have to source from a supplier, may have in another of your outlets or may have stored away from your shop front.  You can have the great conversation with your customer, sell them the required items, and then have the item or items ready for that customer to collect at a later date.

Your returns policy needs to be a little more flexible with this approach but the benefits to both parties and the customer loyalty it generates is more than enough compensation for this.

This can be linked to a recent report that family financial optimism was rising-

http://www.bbc.co.uk/news/business-26255705

My first ebook is on an Amazon Countdown deal. I'm so excited!

Do payday lenders have a place on our High Street?

As I looked through the BBC news pages, this article caught my eye.

http://m.bbc.co.uk/news/business-26382481

There are payday lenders on most High Streets, so is greater regulation a good thing for other High Street retailers or not?

For

Well, on a selfish level, there more disposable income our potential customers have in their hand, the more they have to spend in our shop.  Providers of essential items of grocery or personal hygiene products will welcome our loyal customers being able to continue spending.  In the UK we have little manufacturing industry, so a large part of our economy is driven by consumer spending.   The local plus it may provide is jobs for a couple of local people and rent for what may be a local landlord.

Against

In terms of the greater good of our community, money leaving local people as high interest payments and arriving in the profits of international corporations does us little good at all.

It may be our staff that are borrowing in this way, which if used irresponsibly then can lead to longer-term financial woes.  This could eventually lead to absenteeism or, inextreme cases, employee theft.

I am against the "Nanny state" and I think that people should be free to make their own decisions.  There is obviously a market for payday lenders, as they have become hugely successful.  This needs to be balanced with financial education (preferably in school.)

Not everything can be bought on the High Street - James Hunt: The Biography