FOCUS 14 B
UK Head of Retail at KPMG by DAVID MCCORQUODALE
oarded-up storefronts and a mix of shops that don’t offer everyday necessities have become a familiar sight across many of the UK’s high streets. Many of these areas are still
struggling to meet the challenges of a prolonged recession, sky-high rates and tight parking restrictions, along with competition from out-of- town malls and retail parks, and the seismic shift brought about by internet shopping.
Yet some high streets are thriving, by acknowledging the continued need for attractive urban spaces where people can meet, communicate, eat, drink, work and shop. This enlightened attitude has enabled centres such as Westfi eld in London and the Tamworth, West Midlands shopping park to operate successfully despite the economic downturn. These places are characterised by a good mix of retailers, food and beverage outlets, and entertainment destinations, along with convenient opening hours, easy access and cheap or free parking.
Most town centres, on the other hand, have an inappropriate combination of outlets that are too widely dispersed. The upper and rear parts of shops are typically underused, empty and poorly maintained, adding to the generally negative impression, and deterring shoppers, potential residents and investors. And as for parking? Well, anyone who has tried to fi nd a space on a busy Saturday afternoon is all too aware of the diffi culties – not to mention the cost.
IT IS MY FIRM BELIEF THAT THE HIGH STREET IS NOT DEAD. DESPITE THE INTERNET, PEOPLE DO NOT ‘ASPIRE’ TO BE ONLINE SHOPPERS. INSTEAD PHYSICAL RETAIL IS CRUCIAL FOR FULFILLING THE BASIC HUMAN NEED FOR CONNECTIVITY AND COMMUNITY.
It is my fi rm belief that the high street is not dead. Despite the internet, people do not ‘aspire’ to be online shoppers. Instead physical retail is crucial for fulfi lling the basic human need for connectivity and community. The key is to create spaces where people feel warm and welcome, as well as creating a space that is practical for the modern consumer. This is also likely to involve a combination of uses including residential, leisure and retail, along with affordable (or free) parking.
© 2014 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.
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A NEW DAWN
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