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Published byChrystal Sheryl Higgins Modified over 9 years ago
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Partnerships for Better Business (UK) LLP Looking after our Business Improvement Districts and Town and City Centre centres
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Headlines: Town Centres are loosing customers – footfall down 10% in 3 yrs Vacancy rates are high - ave 14% Increasing competition – multi media High Street space fell 11.8% and shopping centre rose 34.2% in last decade BRC-KPMG
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From ‘shopping’ to ‘experience’ 2002 Sales 2012 Sales Source: GVA Grimley 2012
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Portas Review Government response – accepted nearly all recommendations 12 Pilots – range of locations Second phase results to be announced “Town Teams” must include planners
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High Street Innovation Fund “high streets cannot simply rely on retail – they have to offer something new and different that neither shopping centres nor the Internet can match.” Letter to Chief Executives from DCLG
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City and Town Centre Partnerships (“Town Teams”)
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City and Town Centre Management A wide variety of partnerships across the UK Supported by the ATCM A tried and tested formula... – Bring the right people around the table – Share a Vision for the Future – Have a Plan! – Put it into Action! – Ensure sustainability – Communicate Success
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Business Improvement Districts
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Additionality Specific proposal: All businesses have a voice Focus on delivery Additional services Direct business benefits Fair and equitable levy Up to 5 years Put to a vote: Occupiers vote Dual majority
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Increasing Confidence Ave Ave Turnout by No by rates 1 st Ballots 74% 72% 45% 2 nd Ballots 76% 80% 48%
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Successful BIDs Where the BID is: –managed, coordinated and delivered by the businesses of the BID –an effective and cohesive business community organisation delivering value for money. BID Management team focuses on: –front end project delivery in line with the BID business plan commitments –using core competencies of suppliers –working closely with partners, –minimising sub-contracting relationships, with the overall coordination and control being in the hands of ‘project manager’ wherever possible.
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Creating the experience
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Know your audience 2008 Retail Catchment Map
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St Peters Street Westfield Extension Cathedral Cornmarket Green Lane Eagle East Street Sadler Gate © Crown Copyright. All rights reserved. (100024913) (2008) The Spot Value Mass Premium 22% Westfield Extension Ark & Canopy – Sadler Gate 27% 42% 14% 27% 83% 88% 36% Friar Gate Independent Multiple 93% % Indep. Understand your offer Market Position and Multiples v Independents
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Build on your strengths
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Be proactive – manage and use market forces
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The visitors journey Make sure everything works together
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The journey - Awareness
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The journey - Access
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The Journey - Signage
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The journey - The offer
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Monitoring and reviewing effectiveness
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Everything must work together Understand your: –Local population –Offer of the town or city Build on your strengths Have a plan Work in real partnership Monitor your performance
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Leaving it to market forces will leave you behind
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Partnerships for Better Business (UK) LLP Thank you
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