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Best Small Shops competition 2020 relaunched with new COVID-19 innovation category

2 Jul 2020

Innovative indie retailers who adapt their business to combat the impact of Covid-19 are to be recognised in a special category in Britain's Best Small Shops competition 2020
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Business and Planning Bill published in the House of Commons

2 Jul 2020

The Government has published the Business and Planning Bill in the Houseof Commons designed to make provision relating to the promotion of economic recovery and growth.
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The Maybe* 2020 Retail Report investigating what shoppers want

1 Jul 2020

To gauge the intentions of the British public, Maybe* has gathered 20,000 answers from regions across the UK to understand if and when they'll return to the shops, and what their concerns... Read more…

The continued effects of lockdown on UK shoppers

24 Jun 2020

Recent research has investigated how consumer behaviour has developed over the past few months as people have adapted their shopping styles tothe lockdown
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Get involved with Independent Bookshop Week 2020!

22 Jun 2020

From online events with bestselling authors, to a picture book celebrating key workers, to virtual bookshop crawls, plans for Independent Bookshop Week 2020 (20-27 June) are in full flow
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Local Bike Shop Day 2020 new date confirmed as Saturday 5th September

17 Jun 2020

A poll among participating retailers of Local Bike Shop Day has confirmed a new date to celebrate bike shops across the nation
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The latest Independents' Day Podcast: Retail Stories: Reopening After The Pandemic

16 Jun 2020

Catch up on this morning's Independents' Day podcast 'Retail Stories: Reopening After The Pandemic'
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Indie Retail COVID-19 Reopening Resources and Guidance

11 Jun 2020

Indie Retail have created a guidance document for shops that are now reopening after previously closing
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Write to your MP on Sunday trading

9 Jun 2020

The Government is currently considering relaxing the Sunday Trading regulations. This is not a popular measure with consumers, shopworkers, or retailers.
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Advertise your jobs with Indie Retail for FREE

8 Jun 2020

For a limited time only we are giving all retailers free access to the full range of Indie Retail job boards!
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Redesigning Retail

Posted on in Business News, Cycles News

A recent article published on Forbes explains why the traditional retail model is no longer sustainable and how big brands are seemingly "turning it on its head".

One of London's oldest department stores, Fenwick, sees it joining the retail space race as it announces plans for renting out around 10% of the department store's floor-space, meaning that around 3,500 square foot of the shop floor will be given over to office space.

Hugo Fenwick said about the new development:

"Although mitigated by significant investment in the brand's own multi-channel platform, it is recognised that Fenwick will need to extend the building to provide a further revenue stream that will cross-subsidise the contribution from the department store."

As well as Fenwick, Marks and Spencer and Debenhams are also reported to have similar plans. This news is unsurprising as retail sales continue to decrease and large units such as department stores are both hard to fill and expensive to run.

Forbes questions whether this reduction in space represents a last desperate throw of the dice for department stores or whether it's an imaginative way to breathe new life into underused and unprofitable space, while being able to maintain a physical presence.

Similar concepts include Starbucks' "third-space" where a coffee shop can double act as a work zone and even a place for business meetings.

The article concludes that while up-and-coming concepts with low overheads such as Netflix and Amazon may appear to be thriving, a physical shop has something that an online retailer cannot have and something that human beings will always crave- presence and physical interaction.

In adapting to appeal to this element of consumer wants and needs, offline retail may have a hope yet.

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