Tag: high street

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Experience Centres…

A few weeks ago, I was in London with my colleague Bruno, who’d travelled over from Brussels – for a meeting.

I noticed his shoes – very nice they were, and let him know that.

For the next 10 minutes, Bruno explained to me how the High Street was changing – and where he went to buy his shoes, they had a Ferrari and other ‘items’ which you wouldn’t normally find in a traditional shoe shop. It was more like an experience centre – where you walk in, sofa’s, tea and coffee, let the kids look at the Ferrari, whilst you take your time and find the right shoes.

I fully agree. The High Street is changing. There’s more on-line shopping. We know this! – just look at the statistics.

Bal, how can we help the High Street?

Well – firstly, have more ‘experience centres’ – where customers can ‘experience’ what they want, take their time and indulge what you have to offer.

A place where they can ask questions freely, talk to people with some serious knowledge – sounding very familiar to the Apple Store!?!

But what if you had a kids play corner? What if there was some ‘attractions’ to divert your attention? What if there was a coffee machine that enticed you to stay longer… become more loyal to the brand/shop.

Thinking differently will help the High Street. Similar to how in the 80’s and 90’s the shopping centres appeared out of town, with ample free parking and huge variety of shops. They’re still popular – but why would I waste my time, to drive out of town, park up, walk into a shop, purchase an item, walk back, drive home….. when I could do it in a few clicks on my phone?

In addition to the experience, it begins to be more personal. More individual. And we’re seeing that in a number of sectors.

Pop-up shops for example. We don’t want the same thing as everyone else…. and that’s the same as our drinking! – look at the number of beers you can get now, different beers, different tastes – and more individualisation!

It’s funny to keep reading about ‘the High Street is Dead’… maybe it is, but how can it be revitalised?! – let’s look at other cities around the world. Let’s learn what other people are doing… and bring some life back to the High Street!

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His Masters Voice has gone Digital…

Well, Firstly, Happy New Year! – Hope you had a fabulous break over the festive period and were able to do what you wanted to do! – I wanted to relax, spend time with family and eat lots. I did all three – so I’m happy!

Also – I’m hoping you were able to listen to my first podcast, which was titled as… My First Podcast. It’s available on all major platforms – you could open up your podcast app if you have an iOS device, search for Think Lean Get Digital – and my podcast will appear! You can do the same for Google, Spoitfy and many many more.

And on my second podcast coming next week – titled (for the moment) My Second Podcast, I’ll be talking a little more about skills and jobs. How they’re changing – but more so how you don’t have to go down the traditional route – which is usually, school – college – University – Job – work – retire.

And this leads to me how behaviors are changing. Shopping behaviors – but also, our general behaviors for example, how we listen to music.

That’s right – you may have seen or heard, HMV (His Masters Voice)…. is closing.

Why?… well, simple really. When was the last time you bought a CD? When was the last time you went on the high street to buy a DVD?

These habits are changing.

We stream our music. We have so many platforms to do it on. Even YouTube now have a music/stream app – where you can listen to music.

It effectively means – we don’t need to own music. We don’t need to have the space for it. We don’t need to own a physical copy.

Indeed – there’ll be some DJ’s, musicians, etc… experts in the field that will own, that will want the physical copy… and that is absolutely fine – as that is their ‘bread and butter’. But they’ll soon shift to the on-line streaming behaviors of the consumers. Similar to how photographers moved from 35mm film to Digital.

I’ll continue to share updates of the high street – and how digital, how technology and how thinking lean – is changing our environment. I’m sure we’ll have more and more well known names from the High Street disappear over 2019….

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10yrs since Woolworths…

It’s been 10 years since Woolworths left the High Street.

It was a bit of an institution. But the time had come to close it’s doors based on poor sales and customers, just not buying anymore. There were a couple of reasons – mainly, their music and DVD part of the business which  was so profitable wasn’t doing so good – because habits had changed, with on-line music available.

The whole business couldn’t have been held on just it’s famous pic’n’mix.

They had a lot of stores up and down the country.

What happened then, Bal?

Well – a new ‘shopping model’ appeared. Pound World/Land/Everything.

The stores that sold everything for a pound was a simple and effective model. Very successful  – and they bought many of the stores where Woolworths used to be, and set up shop.

But even today – they’re not doing so well. In July, PoundWorld announced they’ll close 150 stores of it’s total 335 stores with administrators looking for a buyer. Poundland isn’t performing too well either.

The High Street is changing. Shopping habits are changing. We’re shopping more and more online. But moreso, via our mobile devices.

As per a previous blog post – we’re in that phase of ‘Bricks and Clicks’ – where retailers need to have a strong on-line presence aswell as maintaining their high street presence, because we’re going through that ‘transition phase’.

In the future – we’ll have less physical stores for us to visit. They’ll be more ‘experience outlets’. Where we can go, and experience whatever it is we want to buy. Then have the ability to order on-line and for it to be delivered at home.

In addition – smaller outlets, for those essentials on the way home from work. Using technology to make it a quick and easy experience – similar to the Amazon physical store.

And as today is ‘Cyber Monday’ – how long that term will last, i’m not sure – because alot of the sales on Friday were on-line… means we’ll be more ‘cyber shoppers’ than before.

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Jackie, how do you like to shop?

Another week, and another High Street name closing stores. 

This week, we have New Look. In a radical revamp – upto 100 stores will close. 

Why? Like I’ve mentioned before…. our shopping habits are changing. There’s so many uncertainties. Brexit. Etc…. 

So what next, Bal?

Great question! – I see the whole High Street changing. There’ll be more closures and more well known names disappearing from the High Street. 

When it comes to clothes – we’ve traditionally gone out to shop. Because we need to touch, feel and try. 

Comparing clothing to electrical – online sales are not has great. But that’ll fast change. How?…. let’s just look to Amazon and what they’re doing.

Yep, they’re offering a ‘try before you buy’ service. 

Select a number of clothes…. sizes, colours, etc… have them sent to your home. Try them… see how they feel – like them? Keep them (and obviously pay) don’t like them? – return them free of charge. 

Simple? Off course! That’s what makes it so easy. 

Jackie, a mum of 3 boys – who’s always running around and very busy, doesn’t have time to go into shops, try various clothes…. instead, would rather be able to try the clothes on – when she wants and where she wants (on the basis she knows where the kids are – on which some occasions is a challenge on its own).

Amazon started selling clothes 10 years ago and is only recently pushing more into this space. Without doing much, they have a 4.6% market share. Just behind M&S online clothing. 

Next is in the lead, with 12.5% of market share. You also then have John Lewis, ASOS and eBay. 

So can Amazon gain more market share?

I think Yes. They’ve got the power and the ability to make it a success. We’re ordering more and more varieties from Amazon, from baked beans (yes, you can buy them) to garden furniture. Why not throw a cardigan in the basket as well.

Reminds me of the time I went to Tesco to buy some milk and bought a TV. I did that in a physical store about 6 years ago. Looks like now is the time I would buy some socks with my books from Amazon. 

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Is this the Start of the End of the High Street?

We’ve seen Toys’R’Us announce they’re closing stores.

We’ve seen it with Maplins… they’re also closing shop.

I’ll be honest – I’m surprised Maplins kept on going so long with their physical stores. Most of the ‘tech’ items you can buy in there… you can probably buy at a lower cost, online.

I remember, a few months ago – I went in there. Can’t remember what it was that I wanted, but the staff were really helpful, and they said – we’ve not got it in store, but it’s available online.

I left, went to my computer – had a look – and he was right, there it was online. But then, I thought, how much is it with Amazon (other online retailers are available). And you probably guessed it – yes, it was a little cheaper with Amazon, and being a Prime customer, I also had the option of free next day delivery.

Yesterday, in the news – it was announced that shares in Carpet Right and Mothercare fell – concerns that they’ll follow the same path as those mentioned above.

Mothercare is in the midst of a store closure programme. Their shares fell 12%. 140 down to 80 stores they have proposed… now that’s a lot of store closures.

Then there’s Carpet Right. They have 409 stores across the UK – and have been struggling and under-performing.

So the question is… Is this the Start to the End of the High Street?

Well… it’s all about change. As Darwin said, it’s not the strongest that survive.. but those who are most adaptable to change. Now admittedly, he was talking about species… but you can apply the same thinking to businesses.

Have any of the above evolved over time? Have they introduced or used, new technology to help their customers?

I feel, there’ll always be a need for a physical presence of a store – depending on what they’re selling – and a great example of this is Amazon and their new physical store they are trialing out.

It’s a shame to see these great big stores close. But if you can buy it easier, cheaper and with less hassle… elsewhere (be it online or in other stores) then why not?

All businesses should be thinking – what do I need to do, to ‘future-proof’ myself?

What technology can we use to make the life of our customers easier? – Look at Ikea and how they’ve evolved… now using Augmented Reality… or should I say, are offering within an app, Augmented Reality, so you can see what furniture looks like, in your home…

What is the overall process our customers have to go through – that we can understand better, and help them to make their decisions quicker and ensure we offer everything to them…. because it’s all about the customer.

High street shops & companies must adapt.

Otherwise – this is the start, of the end… of the High Street.