Every business is striving to rise above the harsh business and economic environment and thrive. The good news is that whatever your business needs are, you can be sure to meet them in London.
This world-renowned city is visited by tourists and business travellers’ alike as it has helped thousands of businesses to grow and become global brands.
The cosmopolitan nature of the U.K.’s capital makes it an appealing place to do business. Even though the pandemic has resulted in a significant decline in the footfall for most retail stores you can still take advantage of the presence of commercial property for rent in London to catapult your business to the next level.
Here are ways to leverage retail space available in London to do more business and expand beyond the borders:
You can use commercial space in London to market your product and create brand awareness. The rise of ecommerce has made it difficult to cut through retail space as more brands are selling directly to consumers hence more noise. Thus, you need to be strategic with your marketing efforts so that you are not only seeking to sell but also make consumers aware of your brand.
Having a physical presence, even though temporary, is a powerful marketing approach because people tend to subconsciously register brand names as they pass by stores. Consequently, these brands are established in the mind so that when the time to buy something comes they first think of what they have seen before.
You can use commercial properties in London to give your brand a marketing boost and attain brand awareness without worrying about long term commitment.
While you may argue that ecommerce stores offer convenience for both retailers and consumers, there’s a huge gap when it comes to research and learning. Moving into a temporary retail space presents an opportunity to educate your consumers about your products. You can even stage demo sessions where you show them how the product is made or even how to use the product to achieve optimal results.
Additionally, temporary retail stores are great when you want to gather customer feedback on the product features as well as customer experience. They present a perfect opportunity for customers who may have doubts about colour and texture online to interact physically with the product. You could even conduct a survey and use the findings to shape up things so that you boost your ecommerce store. These, even as you drive sales during the time you will be at the London retail space.
Test new market
Businesses can move into temporary retail space in London when they are mulling over the idea of setting up a permanent store but are not sure if it is the right move. When you set up a presence in the temporary space, it is an opportunity to try the market to see if it is right. Sometimes you can record much success that you consider setting up a permanent store.
However, you also must take other factors like the full cost of running a brick-and-mortar establishment into account. When paying for commercial space in London, it is easy to be deceived to think that it doesn’t cost much to run a permanent store in London. You can tweak the feedback from your temporary retail store as needed. Having an idea of what to expect from the market helps to build confidence as well as gauge the acceptability of your products in a specific market. This is also valuable for decision making.
Commercial properties available for rent in London are a great option when you want to tap into the location-based stores because you get to enjoy the benefits of both ecommerce and a physical store. These spaces are ideal because they require a smaller investment while letting you figure out what can work with a bigger investment.
Most importantly, it presents an opportunity to be innovative as you test out ideas to see what it is that customers prefer. Your brand can benefit from shop space in London if you’re seeking to build a brand name to compete with other brands in your industry. The flexible nature of temporary retail stores has made it popular among both consumers and business owners despite the shortfall in footfall. Even though the Covid-19 pandemic has disrupted the economy with facemasks and social distancing, you can be sure to achieve much by having a temporary presence in a London commercial space at affordable costs.