Gift Focus inc Attire Accessories - Page number 150 - July/August 2021

150 By readdressing business and buying strategies to align with the new trends and habits emerging from the pandemic, the independent high street could be an integral cog in bolstering the local economy, says Louise Prance T he high street has been battered by the pandemic. Lockdowns have enforced store closures, felt more deeply by independents than their mass peers. While larger stores pivoted to their e-commerce arms quickly, this was often harder for smaller boutiques, many who didn’t have the infrastructure in place. However, as we go back to a new normal, the sentiment surrounding independent retailers has never been better. Consumers, many suffering from digital fatigue, have adapted their shopping habits during the crisis and are looking for quality over quantity, with a sense of community spirit a welcome bonus. That said, e-commerce giants such as Amazon are not to be overlooked. With many reporting their strongest sales to date during the course of the pandemic, it’s time for the smaller boutiques to look closer and readdress their offerings and structure in order to adapt to the new era of consumerism. According to a Forbes article, fresh thinking and creativity is the pulse point of redesigning a strong business model. The UK government is focused on a ‘build back better’ motto, and smaller boutiques and businesses would be wise to take this and adapt it to ‘buy back better’. Assessing your product offering is a key place to start. The pandemic has nurtured a plethora of new shopping trends, and buying routines should mirror these if you want to emerge victorious. Products for the home, bath and body, toys and games, and wellness items have all been frontrunners throughout COVID-19, and as people continue to spend more time at home, this doesn’t look set to change anytime soon. Likewise, offering buyers a multifaceted experiential experience in-store will evoke interest and intrigue. Do you have space for a coffee bar or relaxed seating area? Can you start to introduce Insta- worthy backdrops that will see your store being hashtagged across social media? Could you team up with a fellow independent business/ es and create a community-wide incentive scheme? Building a brand and developing your own USP will keep customers wanting more and the tills ringing. Your store should start to become just one element of said brand; create a seamless flow through physical store, socials and your e-commerce offering, and you’ll cast your net far wider than just passing footfall or repeat consumers. And finally, the epitome of buy back better, as the world focuses on both financial and environmental recovery, ensuring you are aligning your store values with eco-consumerism will undoubtedly stand you in good stead. By using the weapons at your disposal – such as being able to pivot your buying strategies quickly and an insider’s knowledge of the local area – regional businesses are well placed to cater to the swing towards environmentally-driven shoppers looking to shop both locally and sustainably. By combining these efforts and more, the independent high street could not only thrive, but be an integral cog in bolstering the local economy as the pandemic recovery surges on. BUILD BACK BETTER