Independents are poised to “reap the rewards they deserve” as shops reopen

As many retailers open up for the first time in nearly three months, independent businesses are facing an opportunity to expand their customer base, says Alex Smilansky, co-founder and CEO of Mayku, a London-based company focused on democratising manufacturing.

Over half of shoppers want to increase their support of non-essential local businesses after lockdown forced retailers to shut their doors, according to research from Barclaycard. In fact, food and drink specialist stores – which includes off-licences, greengrocers, independent convenience stores, butchers and bakeries – saw 37.7 percent growth in consumer spending while overall spending fell by 36.5 percent.

At the same time, many consumers remain reluctant to return to larger shopping centres and city centre locations. Research from EY found that almost two-thirds of shoppers would be wary to return to shopping centres, while a quarter of shoppers would still feel uncomfortable visiting high street stores or supermarkets due to overcrowding.

For independent shops and online-only businesses, this could open the door to a growing customer base. Alex is hopeful that the reopening of the retail sector will allow independent shops to “reap the rewards they deserve”.

“As the retail sector begins to thaw following the period of hibernation brought about by Covid-19, it is extremely encouraging to see that a considerable number of Britain’s shoppers are looking to boost their local economies and the independent businesses that support the community with quality products,” Alex says.

“We have already seen that the lockdown led millions of shoppers to discover the quality service, family atmosphere and amazing range of products that their local convenience stores offer; now it is the turn of non-essential businesses to expand their market share and enjoy the profits after what has been a period of considerable difficulty.”

While the lockdown period has undeniably hindered growth for many SMEs, the renewed focus on high-quality local shops is an encouraging trend for fine food retailers.