Nottingham needs to prepare for Broadmarsh boost, says retail expert

The high street might never be the same again, but the battle between clicks and bricks has not yet been lost by physical stores, according to one prominent retail expert.

Karen Johnson, national head of retail, wholesale and healthcare at Barclays Corporate Banking, said there remain opportunities to thrive for smaller, innovative retailers – and that the Broadmarsh redevelopment in Nottingham could be a huge boost for Nottingham.

She told TheBusinessDesk.com: “It’s fair to say that the high street will never be the same again, but the battle isn’t quite over yet. We need business rates reform, of course, but the bricks need to have a key differentiator if they are to survive and grow. They need to embrace technology, and offer incentives for programmes such as click and collect.”

Johnson said that smaller retailers’ confidence hasn’t been knocked by the rash of big-name retailers slipping into administration.

“They’re not as bothered as you might think they are. Large companies are not able to react as quickly to changes in retail trends – but there are opportunities for smaller businesses to. Consumers are changing and smaller retails can adapt to these trends easier than their larger counterparts.

The Broadmarsh regeneration could be a huge boost for Nottingham, said Johnson, adding: “The Broadmarsh is interesting; it’s a large retail development that could draw in footfall from secondary towns and cities in the area. It’ll be fascinating to watch how the local authorities as well as intu and other retailers in the city are preparing for that.”