Levelling the playing field.
In an attempt to level the playing field between online and in-store profits, the chair of John Lewis, Sharon White has reportedly called on Rishi Sunak to consider abandoning business rates in favour of a land tax. https://www.drapersonline.com/news/john-lewis-chairman-sharon-white-calls-for-business-rates-scrap?tkn=1
Land tax considers the value of the land by location only and not by the calibre of the development sitting on it. This could encourage commercial property development as there will no longer be a tax penalty for improving the building itself.
This would be a great move for retailers, and we are behind it – but that alone, won’t necessarily make the in-store shopping experience more attractive to customers. A fabulous in-store experience will make us go back in droves – so let’s also invest in doing that.
I have said before, online is so easy. Order a duvet set, it arrives the next day – but how does the quality stack up? You don’t know until it is in your home. By then repacking it and sending it back can feel like too much effort. In-store you can feel the quality before you buy. In-store you can even see if the colour is going to match your bedroom carpet.
Online will always be in the mix, but we want to shop in-store again. We just need a reason to go out in the rain to do it.
Retailers need to win the war to get customers back into store by making shopping pleasure not a battle. Better displays, comfy seating, nicer fitting rooms.
Here are some ideas to refresh your retail area