Can technology save our high streets?

By Mitchel Annable, founder of Love My Town Group

FinTech, PropTech, InsurTech – why not

TownTech? If any sector of our economy was in need of a shot in the arm (no pun intended) that can be provided by relevant, useful and reliable technology, then surely our high streets should be first in the queue.

As we slowly venture back into our towns and cities, the painful impact of the pandemic is only too clear to see in the form of empty units that are ubiquitous across all high streets.

The past 15 months have seen the acceleration of a process not rooted in the Covid-19 pandemic, but one that has seen our struggling high streets being reshaped and repurposed over a number of years firstly due to the growth of “out of town” shopping followed by the double whammy of 24-hour online retail.

However, it is also apparent that the pandemic has accelerated the adoption of technology by our high streets’ businesses to communicate with and serve customers during the periods of lockdown.

From Instagram product launches to click and collect ecommerce, the relationship between necessity and invention has created an environment where previous technophobes have embraced technology in a way that may just provide a roadmap to how our high streets could flourish in the future.

Undoubtably the big online retailers such as Amazon, ASOS et al are here to stay and will continue to grow exponentially as their technology becomes even more entrenched into our lives, fridges and wardrobes. However, if the pandemic has taught us anything, it is how much we miss social interaction and its importance to our mental health and wellbeing.

A busy high street acting as the social hub for our community creates an environment that simply cannot be replicated online. But how can technology assist in both the recovery and ultimately success of our local high street? What can we take forward from the lessons learned over the past 15 months to give the high street a competitive advantage in the battle for both footfall and clicks?

SOCIAL, MOBILE AND OMNICHANNEL RETAILING WITH A REAL PERSON

Social media platforms, such as Instagram, have played a vital role in providing businesses with the ability to engage with and increase their customer base even with the doors closed.

Combining a strong social media presence with seamless click and collect services is now a far closer reality for many more businesses than seemed possible 12 months ago.

However, regardless of how many Instagram followers or how mobile-friendly a shop’s e-commerce website, ultimately the quality of the experience for the shopper and the value added to the buying process by the retailer are of critical importance to the success of any business.

But if our high street businesses can combine a compelling offer and great experience with the continued embracing of technology to maximise customer engagement, trust and loyalty, then our high streets may just be able to start to reverse decades of decline.

The potential for our high streets to once again become the social hubs of our communities cannot be overstated and while there does seem to be a clear will to support our local independent businesses, let us hope that over the next few months and years this “will” can be matched with a “way”.

Undoubtably, technology in whatever form will have an important role to play.

High streets cannot ignore the power of social media