The Retailer Autumn Edition_2020

RETAIL RESILIENCE

DOMINIC WHITE HEAD OF MERCHANT SALES AND ACQUIRING, Visa UK & Ireland.

HOW SMALL RETAILERS CAN TAKE LEARNINGS FROM LOCKDOWN TO PREPARE FOR THE FESTIVE SEASON Over the past few months, we have witnessed many shining examples of small businesses doing all they can to survive. Whether that was through pivoting their business model overnight, getting online for the first time or updating their product offering to cater to previously unforeseen or unexplored demand. As more challenges continue to be thrown their way, help is at hand from a network of platforms including Down Your High Street and ShopAppy.com as the need for small businesses to adapt to these extraordinary circumstances continues. Since the pandemic hit, independent retailers have had to reassess how they engage with their customers in ways they may not have considered before, taking new and innovative approaches to keep serving their communities. The changes these retailers have made to their business have not only helped them through a difficult period but have ensured they are in a stronger position ahead of a tricky festive shopping season. At Visa, we have been heartened to see so many small retailers embracing the digital marketplace by setting themselves up online. Right at the start of lockdown, Visa partnered with platforms and marketplaces like ShopAppy.com, eBay and Down Your High Street to reduce the cost and fees for small businesses looking to sell online. Thousands of businesses who previously did not have a digital presence have now been able to sell online and reach customers through these platforms, with more than 2,000 businesses now signed up to the ShopAppy.com platform since the partnership was launched. Having an online presence with Down Your High Street proved crucial for independent cookware shop Kooks Unlimited when lockdown hit. Owner Chris Lynn-Thomas quickly recognised the importance of serving customers online to maintain the future of his business, as customers chose not to rush back in store. Chris comments: “Online has benefitted us greatly. With footfall down, many smaller independent shops were looking to sell online which can be a life saver, but expensive to put together a good, interesting and profitable website. Companies like DYHS have been a saviour as it meant I could still sell seasonal product which I would have been left with in store. It has been so busy online, probably busier than Christmas. People are cooking, baking and crafting so we have been able to continue trading.” Meanwhile, many small businesses have expanded their product offering during lockdown to reach new customers. It Started with A Stitch, a craft and embroidery business based in Cleethorpes, adapted its stock availability to create new kits that could be easily delivered to customers at home through a letterbox during lockdown. Commenting on how joining the ShopAppy.com platform has allowed her to create a new way to stay in touch with her customers, owner Gemma Winter said: “Lockdown has forced me to move my business in a direction that I wasn't expecting that has actually made it easier for me and my customers. Social distancing is here to stay, for quite some time and there's no escaping that. To be able to still support your local businesses by shopping online and then collecting or arranging delivery is the perfect way to maintain that support.”

At Visa, we are continuing our work with industry, technology and community partners to help retailers prepare for the upcoming festive season. From offering help to get small retailers online to setting up digital payments, we’re doing everything we can to help businesses keep serving their communities both online and offline. Our latest partnership at Visa is with Totally Locally, a grassroots initiative to help small businesses and communities work together to protect the future of independent high streets. Independent retailers can join with other small businesses in the local area to sign up, giving them access to free Town Kits and a network of peer’s support to help them collaborate with their local community over the coming winter months. Last month, over 100 towns across the country took part in Totally Locally’s Fiver Fest celebration , which saw small businesses host £5 special offers for local shoppers to thank the communities that support them. Following the success of the event, we are encouraging retailers to continue to find new ways to engage and connect with their customers as the Christmas shopping period begins. Independent businesses looking for inspiration can visit totallylocally.org to find out more.

8 | Autumn 2020 | the retailer