Retail repositioning continues

POSTED ON: 16/03/2021

By Ben Collins, Associate Director

The news that Greggs are to open 100 new shops in 2021 - despite reporting a COVID caused first loss for 36 years - is an encouraging sign for our High Streets. The announcement, made on the back of an evolved model that has seen them ramp up their deliveries, wholesale and click-and-collect, will take Greggs’ presence to over 2,150 shops.

Sales at company-managed shops fell by more than 36% last year but was offset partly by deliveries through Just Eat. It seems that nothing will stop us from getting our sausage rolls and steak bakes, be it vegan or traditional.

Greggs are an example of a national business that has pivoted its offer to adapt and survive, something which Thornton’s were trying to achieve with the introduction of new cafes and selling through supermarkets in recent years. However, having  announced this week that none of its stores will reopen it has since been confirmed that 100 Thornton’s franchisees have no intention of closing. Still, sobering news though.

In general, we are seeing an acceleration of change in the retail sector that started well before COVID. On next Tuesday’s British BID’s ‘Insight Online’ session, we will be discussing these changes and the rationalising and improving of retail places along with creating genuine mixed use spaces. Crucially, whist still fulfilling the financial expectations of investors and other key stakeholders. 

We will be joined by Sharon Appleby, Head of Business Operations at Sunderland BID and Tom Whittington, Director of Retail and Leisure Research at Savills to share case studies and discuss the repurposing journey which can start with retail, but lead to better resilient town centres and consumer hubs. Book your place here https://us02web.zoom.us/meeting/register/tZwvf--grDIvGNxoUDzqa1995Reyq33klWj-

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