High Street retailers are unexpectedly set to benefit from the rise in online shopping, according to a leading expert on industrial property in the region.
Russell Crofts, partner at Knight Frank in Bristol and leader of the distribution sector group of the West of England Local Enterprise Partnership (LEP), believes the industrial property market in the West of England may be beginning to see a new cycle of activity.
“When internet shopping first came to the fore many foretold the end of the typical High Street store,” he said,” and we certainly saw an increase in the number of parcel carriers and the premises they required.
“But there has been something of a change to the online shopping model because consumers want a quick and easy solution and home delivery can cause problems for those of us at work during the day. If the person is not in when the delivery is made, it has to be rescheduled or the customer may have to trek out to some industrial depot to collect it.”
As a result, Crofts says, retailers are reinventing themselves to meet the new need. “EBay has teamed up with Argos, while if you order from John Lewis at Cribbs Causeway you can collect from Waitrose anywhere.”
“The growing preference by customers to collect their goods when it suits them, rather than waiting in for deliveries, is such that some of the major online suppliers are actually considering opening dedicated collection hubs in High Street locations.
“That’s a development that no-one could have foreseen a few years ago.”
Russell Croft’s opinions are echoed by colleague Phillippa Carey, one of the South West’s best known retail investment agents. She said: “Bristol is very fortunate in being able to accommodate this changing landscape, which brings unexpected good news for the High Street retailer.”
