Purpose and ‘moments that matter’ underpin our high street revival
The recent launch of ISG’s ‘The power of place: The true cost of inaction’ white paper explored reactions from three influential groups, after 24-months of transformational change, brought about by a global 1 in 100-year pandemic event.Download the research and insight report
While headlines around the ‘death of the office’ constantly evolve to reflect our growing maturity as a nation of hybrid office workers, this period has seen profound societal changes around how we interact more broadly with the built environment and what its purpose might now be in our lives.
ISG brought together a panel of experts with a shared passion and commitment to the high street to discuss how insights from employees, employers and asset owners reflect their own critical understanding and strategies for a shared portfolio of over 10,000 retail outlets across the UK. Barry Perkins from ISG was joined by Chris Read from Lloyds Banking Group, Marie Nisbett from NatWest Group, CACI’s Alex McCulloch and Andrew Tuck from Nationwide Building Society.
Watch the recording of the event below.
Footfall data is showing some interesting emerging patterns according to Alex. Hybrid working is here to stay and the expectation is that overall footfall in major conurbations will stabilise at around 60-70% of pre-pandemic levels, and our latest 'The power of place' research suggests we've already reached that point compared with pre-pandemic levels. Analysis shows that on those in-office days – consumers are spending 15% more on retail, which nets out to similar overall spending levels. Engagement in those locations is far higher – suggesting more flexible or later opening hours could prove highly beneficial to both customer and retailer.Download the research and insight report
Download the research and insight report
Chris suggests that it’s going to take landlords, tenants, government and a range of organisations with a collective aim of resolving building compliance. “When you have a heavily landlord reliant estate, it can’t fall solely on the tenants to make all the investments required to make buildings compliant, there has to be a collective responsibility on moving forward towards those ESG targets. This enables us to support our customer base as society changes.”
Research reveals 19% revenue boost for firms investing in hybrid working during pandemic
Featuring insights from employees, employers, investors, landlords and developers across the UK, ‘The power of place: The true cost of inaction’ sees us go beyond the workplace to understand the greatest risks to our assets so we can take steps to overcome them, achieve long-term return on investment and mobilise for the challenges of tomorrow.