Now is the time for business owners to reinvent convenience - Resolve Group UK

Now is the time for business owners to reinvent convenience

Resolve Group UK

Now is the time for business owners to reinvent convenience

If working from home is a permanent fixture of the economy, businesses need to ‘reinvent convenience’ to follow their customers

The Government is urging people back to their places of work in order to save inner city economies, with retailers, cafes and restaurants in city centres set to be the hardest hit. ONS data, however, shows that around 30% of people in the UK are still working exclusively from home and research from Eskenzi suggests that 91% of the UK’s office workers would like to work from home at least part of the time.

ReSolve believes that small and medium sized business owners who operate in city centres or rely on the commuter market will need to look at making long term changes to their business model in order to reach new and existing customers who are working from home.

Such changes could include:

  • Transitioning solely to online sales, like TM Lewin, the long-established UK professional wear retailer.
  • Moving from footfall to subscription models e.g. offering a product or service regularly for a monthly fee as opposed to relying on chance commuter footfall.
  • Reducing shopfrontage and delivering direct to the customer in the locations where customers now work.
  • Reinventing convenience for shoppers, a primary USP for High Street stores who now need to develop creative marketing and sales campaigns to ensure their target customers can still find, purchase and access their products easily if their store portfolio has been reduced or disappeared altogether.

Cameron Gunn, Senior Partner, ReSolve commented:

“A free market economy is a living thing, constantly changing and evolving. In an ideal world, we would all return to our places of work in city centres and to the shops, bars and restaurants there – but we have to accept that that may not happen on the previous scale. Many people have found that they are just as productive at home – and we’re urging small and medium sized business owners to think outside the box and find new ways to reach their customers.

For some businesses we are working with, this means re-focussing the business on their online offering. For others, it could mean taking the product directly to the customer in the suburbs, or adopting a subscription model to give clear visibility of and guarantee future revenue.

Now is the time for business owners to be bold in their strategies and actions. The future shape of the economy is uncertain and owners will increasingly need to go directly to their customers, wherever that may be.”

Read more news

Go back