Andrew Phipps, srcg senior client director, examines how smaller rural locations are more susceptible to the financial changes taking place in the UK at present and how retailers there can help themselves
When we read in the press of the changing dynamics in the economy and the retail sector it can seem a little removed from our day to day lives.
Cities experience regular change independent of the economic climate but in more rural areas change can have a much bigger impact on a broader selection of people.
For a small town in the Cotswolds where I grew up the changes are all too real. Whilst visiting over Christmas I was saddened to see the sign on Woolworth’s frontage changing day by day in recognition of the final closing date, which all too rapidly arrived.
I read today of the forthcoming closure of the relative newcomer to the town, M&S Simply Food, which became the main shopping centre’s only other retail anchor.
But should the fate of one small town really concern us? Well, yes it should, as this story is being replicated across the country.
As you might expect the town’s inhabitants are well served by a Morrisons and a Tesco, both of which it has to be said are very good and typically have bustling stores and busy car parks.
So does this mean that there are no opportunities for other retailers to perform and operate successfully in this town of 30,000 inhabitants?
It absolutely does not; the challenge that faces the retailers in this town, as well as other similar towns around the country is to understand and meet the needs of the shoppers that live in the locale.
The current position we find ourselves in is that we know things are terrible and likely to get better only very slowly.
We are not in the position we were in 12 months ago where all the economic turmoil was coming as a shock and we didn’t know what was next, we know what the next year is going to bring and we can adjust and alter our approach accordingly.
What Evesham’s current woes bring is a great opportunity for the likes of Budgens or the Co-op to come into town and either take on the Woolworths or the M&S premises and make a real success.
This is the type of town that rewards and welcomes those incomers that work with the townspeople and really bring an offer that meets the needs of the populous as opposed to just dropping in a corporate box.
The mix of local people has changed dramatically over the past 2 years with an influx of Eastern European workers moving to and, more recently, from the town.
This has brought opportunities for a ‘name’ to take on board the changing dynamics and tailor an offer to meet the town’s evolving needs.
The Budgens local ethos and the Co-op’s responsible retailing approach align perfectly with the needs of a town that has the people, the spending power and the desire to shop somewhere that takes account of individual needs.
It also takes a positive step to bringing employment back to those that once worked at Woolworths and those that are currently fearful for their future in a post-M&S Evesham.
