Shop smarter, buy local!
Sadly, not a day goes by without retailers announcing more store closures and job losses at the moment. Coronavirus has been a huge shock to the retail industry and in the UK and we’ve seen the worst ever net store closures this year. The local high street was under pressure even before the UK’s lockdown even began. According to ONS data, online sales are reaching record highs this year as consumers switched to online purchasing following the pandemic. Shopping habits are changing, but even with the rise of online, local shops still need people to walk through the door.
At Smarter Accounting we’ve seen that fragile consumer confidence is showing signs of improving as retailers ramp up for Christmas in our local towns and villages. But if everyone makes more of a conscious effort to use their local shops just a little bit each week, they will survive.
The £5 Effect
A little change can have a huge impact on the High Street where our Smarter offices are based. For example, if every adult in Teignmouth (population c. 15,000) and Crediton (population c.7,000) spent just £5 per week in their local shops and businesses, instead of online or at the big supermarket, it would be worth an extra £5.72 million* per year going into the local economy. This would be enough to make a BIG difference to our local High Street.
As a local, independent business with offices in the town centres of Crediton and Teignmouth, we’re sending our season’s message earlier this year, as part of our campaign to ‘Shop Smarter Buy Local’. Let us all help our local traders have a good Christmas and make a difference to our local economy.
In 2021, Smarter Accounting will continue to work with other local independent Teignmouth and Crediton traders to make our communities stronger and more resilient.
Merry Christmas and we hope for a better 2021 for all! Best wishes and stay safe!
*The £5 effect on our towns of Teignmouth and Crediton: £5 x 22,000 (number of adults in our towns) x 52 (weeks in the year)= how much it’s worth per year.