Shoppers like malls now so high street shops must diversify to survive

Feb. 25, 2011 - PRLog -- A report out on February 21st from the Local Data Company has shown that there are now more empty shops on the high street. And the numbers are expected to increase.

This is partly due to escalating rents and business rates and of course the current state of the economy. But it’s also indicative of a larger picture beyond this. Patterns of shopping are changing. Many shoppers now prefer malls to high streets, partly due to the recent spate of very bad weather but also because they find them more convenient with better comfort, security, parking, child friendly facilities such as creches and play areas, entertainment and refreshment. They like getting everything under one roof.

This trend shows no sign of changing, quite the opposite.

So what can a smart retailer do? Some are retaining a high street presence but now do a lot more of their business online with the store front becoming just that – a store front. This is how they survive. Diversification is the key if you can’t get into the malls which tend to have more expensive rents than on the high street. “Independent retailers need to realise that they still have something special and unique to offer the shopper. If you’re an independent retailer, you’ll find that many shoppers do still like the personal touch,” said Richard Morley, director of Business Cash Advance.

“For those who wish to diversify – say by setting up an online operation with the necessary marketing to get their websites noticed – an advance from Business Cash Advance can be ideal as, unlike many banks, we are always happy to consider advancing funds for this purpose and many of our clients have used our funds for this.

“Other ways shopkeepers have found to diversify are by offering a collection service for postal or food deliveries. Something different that keeps their customers satisfied and coming back,” added Richard Morley.

* Business Cash Advance http://www.businesscashadvance.co.uk  offers a new form of finance for small and independent retailers where money is advanced against future credit and debit card sales. The money is then repaid at the checkout from card sales so the retailer doesn’t notice the money going out.

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