Banbury businesses invited to access new economic insights aimed at helping urban centres
Cherwell District Council has commissioned the work from location experts CACI, using money from government’s Containment Outbreak Management Fund (COMF).
Cllr Lynn Pratt, lead member for economy, regeneration and property, said: “Banbury, Bicester and Kidlington all stand to benefit from people rediscovering their high streets. Rather than venturing further afield for big shopping trips, many shoppers are choosing to rediscover what’s on their doorstep.
“There are still lots of challenges to navigate, but as the world readjusts post-lockdown, this presents a real opportunity - especially for local and independent retailers.”
The reports are freely available to all. They give detailed breakdowns of consumer profiles and habits in the district’s three urban centres, as well as details of where shoppers are drawn to Banbury, Bicester and Kidlington from.
The research shows that while online shopping is set to stay, people are spending more when they do visit a store.
It demonstrates that, despite the end of most legal restrictions, clear signage showing the Covid safety measures that an outlet has is reassuring customers and encouraging them to spend money.
The call for businesses to access the research follows news, reported in Business & Innovation Magazine, that 17,000 local high street stores could open across the UK in the next 12 months, as consumers ‘look local’.
Cllr Pratt added: “Coming out of lockdown I believe people are now more aware of the distinctive experiences local and independent retailers and hospitality venues can offer, and the contribution they make to our communities.
“The goal of this research is to put all of the latest information at businesses’ fingertips, to inform and support their decision making as we bounce back from Covid restrictions.”
The market summary documents are available at no cost to all businesses and residents in Cherwell via www.cherwell.gov.uk/marketsummaries