Cumbria’s visitor economy is the key to helping the county’s retailers flourish in challenging times, according to a specialist commercial solicitor in retail and tourism at Thomson Hayton Winkley.
The latest BDO High Street Sales Tracker reveals that high street sales nationally fell by 0.8 per cent in June compared to the same month last year. The figures also mark 16 out of 17 consecutive months of no in-store sales growth.
But Windermere-based solicitor Stuart Bailey believes the positive impact of the county’s£3billion tourism industry is the key to reversing that slowdown here in Cumbria.
Stuart says, “The drop-in demand for face-to-face shopping has fundamentally changed the appearance of the High Street and some towns and cities nationally are seeing 13-14% vacancy rates on the High Street. However, a number of towns in South Lakeland are actually bucking this trend with vacancy rates below 5%. That’s partly down to the huge benefits the tourism sector brings, either directly or indirectly.
“Whether you are based in one of the so-called ‘honeypot’ tourist areas or not, I firmly believe that the more Cumbrian shops that can accommodate the tourism sector, the better for all of us who live and work here. By evolving and diversifying the customer experience, shops can appeal more to visitors want to buy their friends and family authentic local gifts.
“Cumbria also excels in truly independent shops which offer items which you generally don’t buy on the internet. Ultimately, creating rich experiences is key to catering for the tourism trade.”
“We always advise people who are setting up shop that in order to be successful they should seek advice on their commercial leases so that their hands are not tied when their business need to fly. It’s imperative to protect your personal assets, know your repair rights, confirm break clauses and agree for window signage. These may seem like small things to establish but they can have a huge impact on the success of a retail business.”
Stuart Bailey is a solicitor at Thomson Hayton Winkley, which employs around 100 people across South Cumbria. It has offices in Kendal, Windermere, Kirkby Lonsdale, Grange-over-Sands and Junction 36 Rural Auction Centre.
The company is also a Strategic Partner to Cumbria Tourism.
