Tandem retailing – the future of High Street agency?
It can’t have escaped your notice that many High Street units across the country lie vacant, with a number of big chains going bust or closing stores. Whether it’s to do with BREXIT, out-of-town retails parks, online shopping or crippling rents, it’s a sorry sight. All might not be lost, however, with a new style of retail taking hold across the country.
Tandem retailing – where two businesses operate under the same roof – is a fresh approach to occupancy that can be mutually beneficial and applicable to estate agency. Of course, concessions are not a new concept but they’re more common in department stores. However, bringing unexpected disciplines together on a small scale makes sense.
For instance, the Post Office is a brand where tandem retailing has become natural. Many of its post masters are now operating within another business. There’s a counter inside a café, where people can grab a coffee while they wait to be served, and another Post Office inside an arts and crafts suppliers – handy for those who post the items they make to customers. Elsewhere, there is a trend for tattoo parlous opening up inside barber shops. It’s often that one trade feeds another, encouraging custom, enterprise and social media shares.
Although tandem retailing brings business benefits – sharing shop fitting costs and splitting the rent – there is a more serious side to this trading style. Bringing services together under one roof reinforces the benefit of face-to-face custom and good customer service. In a world where the threat from online operations is growing, offering people a unique High Street proposition and positive experience that leaves them feeling valued should not be underrated – especially in estate agency.
Perhaps you’re an estate agent who could house a mini coffee shop or art gallery? Could you rent out space – or even sofas – to local community groups? With smart space planning and a considered commercial refurbishment, you too could stay ahead of the retail curve, increase footfall to your branch and cement your status in the local community.
Written by: Harry Simons – harrysimons@mplinteriors.com
You May Also Enjoy
HMRC ramps up scrutiny of residential property valuations as it cracks down on inheritance tax avoidance
Renters urged to understand their new rights before major law change
The Foundation of Your Home: Why Your Subfloor Dictates Your Flooring Destiny
Almost £1.4m difference in property prices between the start and finish lines of London Marathon
Demand drops year-on-year for commercial property from high base
