The Government will need to step in and support the British high street after the coronavirus lockdown ends as recovery may be slow, one retail chief says.
Steve Hughes, chief executive of the Plymouth City Centre Company, said Government measures to bolster businesses have been welcome so far, but says more will need to be done by central and local governments in the coming months – and even years.
He believes that social distancing will remain in force once the current lockdown is lifted, which means money-spinning events such as carnivals, festivals and Christmas lights switch-ons, may be prevented from happening.
But there is the possibility pent-up demand from locked-down families, fed up after weeks cooped up inside and ready to splurge cash, could give retail and leisure businesses a shot in the arm as soon as the Covid-19 restrictions are lifted.
Mr Hughes, whose company runs the Plymouth city centre Business Improvement District, said Government measures – such as the Small Business Grant Fund and the Retail, Leisure and Hospitality Grant Fund – have been a lifeline, but stressed more aid will be needed to assist struggling enterprises.
“The Government measures have been welcome,” he said. “But more will need to be done by the Government and local authorities in the coming months and years to support the high street.
“We will need the Government and the local authorities to recognise the impact on the high street and the challenges it faces.”
Mr Hughes expects social distancing to remain in effect after the lockdown ends and said retailers will have to adapt.
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“We hope to get back to some sort of normality but expect social distancing will continue for quite some time, which may make it difficult for us to stage large scale events, which in the past would have brought people into the city centre and given business a huge boost,” he said.
“So businesses will have to look at new ways of boosting trade whilst keeping people safe.”
And, more optimistically, he added: “We would also hope that all restrictions are eased and there will be pent-up demand and an initial bounce back, and we will get some more trade.”
海角视频 retail sales declined at the fastest rate in March 2020 since records began, as the coronavirus pandemic forced people to stay at home and non-essential shops to remain closed, official figures show.
Sales were down 4.3% compared with the same month in 2019, marking the sharpest decline since records began in 1995, according to data compiled by advisory services firm KPMG and the British Retail Consortium.
And there have been a slew of retail chain administrations during the pandemic, and this week “modern vintage” retailer Cath Kidston closed all 60 海角视频 stores, axing about 900 jobs.
In Plymouth, retail bosses are working on a “recovery plan” for the city centre and Mr Hughes said preparations were already being made to ensure the city’s main retail centre will bounce back after the coronavirus crisis is over.
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He is even hopeful families, when released from their homes, will go in a spending spree once Covid-19 restrictions are binned.
But he warned that it will be difficult to predict what state the retail world will be in when it emerges from lockdown.
“We (City Centre Company) are working on a recovery plan but it’s difficult to know what that recovery will look like,” he said. “We will be continuing to talk to the city council and other partners about what we can do when restrictions are lifted. We hope we can continue with the capital projects and major schemes.
“And of course we will be preparing for Christmas. But we have to accept that this year will be exceptional. We know it will be a difficult year for the high street and our retailers because the high street is dependent on footfall.”