West End Businesses Need To Adopt Series Of Key Measures To Maximise Sales Opportunities

July 13, 2011 - PRLog -- To ensure businesses in London’s West End are prepared for what is set to be the biggest operational event that London has seen in peacetime - the 2012 Olympic and Paralympic Games, New West End Company and Heart of London Business Alliance gathered together over 200 West End businesses at the second annual West End Olympic conference.  
The two largest London BIDs [Business Improvement Districts], representing over 600 businesses in London’s West End, urged businesses to adopt a series of strategies to capitalise on the commercial potential of the Games.  

This comes as research due to be published in Friday 15th July from Deloitte - the business advisory firm - identifies that 52% of UK retailers have not considered the opportunities and challenges arising from the 2012 Games.  

Representatives from New West End Company, Heart of London Business Alliance, Transport for London, the Mayor’s Office, Westminster City Council, Deloitte, London Chamber of Commerce and Metropolitan Police addressed the four key areas that West End businesses need to consider during the 2012 Games, from Deliveries and Freight movement plans to Travel Advice, Security and Contingency planning and in-store customer service.  
Dame Judith Mayhew Jonas, Chairman of New West End Company says, “The potential impact of the Olympic Games on West End Sales remains unclear, however if businesses are prepared adopt some of the measures we have established we could see an estimated £100 million sales boost to the area during the Games.”
 
In order to capitalise on the spending power of the additional 1 million visitors descending into London during the Games, New West End Company and the Heart of London Alliance urges West End businesses to:

1.       Work together to lobby for a lift on the restricted trading hours that currently apply to Sundays during the Games period
2.       Look to extend daily trading hours –particularly during the high footfall events in Trafalgar Square and Hyde Park
3.       Look for alternative freight delivery and collection strategies to ensure all products are replenished
4.       Increase stock levels during key periods and factor in storage arrangements
5.       Increase staff capacity to cater for the increase in volume of visitors
6.       Encourage staff to use alternative methods of transport to minimize disruption
7.        To ‘celebrate London’ through shop fit and visual merchandising as well as entertainment and leisure promotions  
8.       To encourage and educate staff to become London Ambassadors
9.       To assess business contingency plans for security of staff and customers
10.   With over a billion eyes on London from around the world, businesses are encouraged to host spectacular events  

Andy Godfrey, Chairman Heart of London Business Alliance, adds “The leisure and entertainment industry is going to be one of the biggest beneficiaries during the Olympic Games, with the events finishing late into the evening the West End is going to be a key destination for visitors. Businesses need to therefore be prepared for this influx of late night spenders by looking at measures that will maximize this commercial opportunity”  
Paul Deighton, LOCOG Chief Executive said:  “It’s great that businesses across the West End have come together today to really focus on the Games, one year out.  The character of the very centre of town will be very different at Games-time, and businesses need to plan their Games to make the most of this once-in-a-lifetime moment, and also be ready to adapt and refine their plans.”

Westminster Council’s cabinet member for enterprise, Cllr Brian Connell said: “The Olympics presents us with a fantastic opportunity for businesses in Westminster from shops to restaurants, hotels and theatres. However it brings with it certain obstacles which is why we need to plan ahead to get the logistics right.
“We would ask all businesses to think about how they will operate during next summer especially in terms of opening hours and think about deliveries in respect to the Olympic Route Network. We are more than happy to talk to anyone that might have any concerns and would invite businesses to get in touch.”
Daniel Ritterband, the Mayor of London’s Director of Marketing and 2012 Communications, said: “The 2012 Games are a massive opportunity for businesses in the capital and we expect international visitors to spend more than £700 million during this time. That is why we are offering firms the chance to take part in a range of programmes that will help them manage the impact of the Games on their operations and at the same time make the most of this wonderful occasion.”
Leon Daniels, Managing Director of Surface Transport at TfL, said: “TfL and all partners are fully focused on delivering what will undoubtedly be a fantastic London 2012 Games and legacy for the Capital and UK and ensuring businesses are ready to make the most of all the opportunities on offer.  
“Our new free travel advice programmes greatly enhance the support available for companies set to be affected by the London 2012 Games. I’d like to urge all businesses to take advantage of the planning tools we’re making available, so that, come next summer, they will be in the best possible position to take advantage of the many excellent business opportunities we know the Games will bring.”
Rick Cudworth, head of the Business Continuity & Resilience team at Deloitte and one of the speakers at the conference, said: “We believe a picture is emerging of a business community that is increasing its level of understanding about the impact of the Games, but for many there remains much to be done to be ready.  It is imperative that all businesses quickly develop an accurate picture, covering all potential impact areas.  This will enable them to establish appropriate planning assumptions, review policies and plans against these, organise to deliver the required programme of work and ultimately to test their preparedness.”

ENDS –

Notes to Editors

New West End Company is a company dedicated to driving forward London’s West End as the world’s top shopping destination. It is supported and run by major retailers and property owners in Bond Street, Oxford Street and Regent Street.
New West End Company ensures the ongoing commercial success of the area by promoting the district, delivering street management services and funding public realm projects to improve the shopping environment.  It is a leading partner in the biggest regeneration programme of London’s West End in its history.  
200 million visitors travel into the West End each year.  Of these visitors 25% are from overseas and a further 21% are from outside of London.

Heart of London Business Alliance
The Heart of London Business Alliance acts as an advocate for businesses and property owners in the area surrounding the world famous landmarks of Piccadilly Circus and Leicester Square. It is a force for driving positive change, dedicated to developing strategies to improve the trading environment and bringing exciting new projects to help improve the Heart of London and promote it as a great place to visit, trade and work.
As the first Business Improvement District to achieve a mandate for a second term, the Business Alliance’s mission is to realise a shared vision for a confident, vibrant and bustling world class destination.
www.heartoflondonbid.co.uk

The official professional services provider to the London Organising Committee of the Olympic and Paralympic Games, including the provision of tax, human capital, management consulting, and financial support services.  So far Deloitte has provided more than 100 high calibre secondees to LOCOG and has delivered in excess of 170 advisory projects.  In all, Deloitte has delivered more than 300,000 hours of expertise in supporting the delivery of the London 2012 Olympic and Paralympic Games.