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A really interesting podcast which discusses what the best mix of retail and entertainment should be. It also highlights the significant challenges that town centre retail stores face in the ever advancing online / ecommerce world. Retail shops just can't compete with the likes of Amazon as the overheads of online retailers, such as property rental costs and business rates, are significantly less. Online retailers can also pass on the advantages of economies of scale and offer a huge selection to the consumer without them ever leaving their home. We've seen in the last decade how retail stores, who only have the same offering as online stores, don't survive - Toys R Us, Jessops, Mothercare, Comet.... the list goes on. They need to adapt and provide a unique experience to give consumers a reason to visit and whilst they are there, tempt and encourage them to purchase with reasons other than price. In many larger cities we've seen how enticing consumers into the city centre has a knock on effect to retailers - people visiting the Christmas market, going to a street food event or visiting a cinema will often also provide a reason to purchase from retail stores whilst they're 'in town'. However, it should also be easy and affordable to get into the city centre therefore transport infrastructure is just as important. The key to stop the decline of the high street must surely be to provide a really interesting mix of reasons why consumers want to visit the town centre both during the day and in the evening.
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