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Wednesday 04 August 2021 2:18 pm

Time for Shop Out to Help Out the High Street

By: Lee Plaister

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In the year to March, outstanding bank loans fell to £195bn from £209bn according to Bank of England data sourced by debt advisory firm ACP Altenburg.

As Coronavirus restrictions are lifting and the highly anticipated ‘freedom day’ has arrived, life may feel like it’s gradually getting back to normal – but for independent retailers, it’s another story entirely.

With even the well-known high street stores in disarray, how do we expect the smaller independent businesses on our high streets to power through, with no or limited help? 

High streets have reopened irrespective of the struggle, however the combination of high cases and the problematic ‘pingdemic’ has left footfall on the high street far from ideal. A somewhat familiar phrase, Shop Out to Help Out may just be the answer. 

The Shop Out to Help Out scheme could be the resolution that many independent retailers are looking for. We all saw how Eat Out to Help Out supported hospitality, bringing droves of diners out to spend their hard earned cash in restaurants and pubs across the country. It worked well, not perfectly of course, but it really gave hospitality owners the boost they needed at that time – financially and of course in morale too. 

Read more: Back to the office: Business groups echo Sunak’s concerns about young workers

This scheme on the high street would attract punters back in the shops, it would drive shoppers to buy locally and to shop in smaller independent stores. It would provide a safety net to businesses, to allow them some breathing space to get back to their feet.

The government needs to assist the recovery and the format for this scheme is already in place, the country is already familiar with the premise and with the way it works. It will inject some positivity and joy back into the high street, increase consumer spending and maybe even encourage early Christmas shopping.

We’ve got the backing of BIRA (British Independent Retailers Association), CEO Andrew Goodacre added: “Last summer, the hospitality industry had the Eat Out to Help Out scheme, now the independent retail sector needs the same support in a Shop Out to Help Out initiative.”

Although there have been mentions of similar High Street Voucher Schemes across the UK, including one recently launched in Jersey and another in the pipeline in Northern Ireland, no scheme has yet been confirmed in support of England’s high street. 

We’ve white labelled our technology, which is at the Government’s disposal and ready to go – it’s far more effective than other methods such as prepaid cards or vouchers. 

The scheme would work in a similar way to Eat Out to Help Out, rewarding customers with 50% off up to £10 per transaction when shopping in small independent retailers Monday – Wednesdays in participating outlets (with maximum 10 members of staff).

Read more: The return of the West End: rebuilding a delicate ecosystem of workers and culture

Read more

Burnham to crack down on vape and betting shops 

Retail display shelf in a shop showing various vape products, candy, and gum, with clear pricing and warning labels.

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