How the High Street is fighting back after the pandemic and cost of living crisis

Chesterfield Borough Council is currently investing £28million to transform key buildings as well as the look, feel and flow of the town centre. The Revitalising the Heart of Chesterfield scheme will deliver a purposeful town centre with multi-use applications, one that meets the needs of both businesses and visitors.

Ahead of the transformation, this month’s round table discussed the high street’s ongoing recovery from the pandemic and how it is adapting in the current economic climate.

Held remotely and organised by Destination Chesterfield in conjunction with the Derbyshire Times, the round table brought together key local figures to discuss how we can all better support high street businesses and how they can attract more footfall ahead of the town centre’s transformation.

Taking part were:

JM - Josh Marsh - Destination Chesterfield Coordinator

PC – Paul Chapman – Editor, S40 Local and S41 Local magazines, Unhampered

PS – Paul Stuart – Head of Enterprise, East Midlands Chamber

CH – Charles Hancock – ZMET Researcher and Senior Lecturer, University of Derby

JC – Joe Cattee – Managing Director, Peak Pharmacy

MD – Michelle Dalman – Owner, MD Hair Salon

What impact have rising energy costs had/are going to have on high street businesses across Chesterfield?

PS – The increase in the cost of living itself may be enough to draw people, particularly office workers, back into town as they look to manage rising bills at home. The workers at the office space at Northern Gateway Enterprise Centre are using local businesses at lunchtime.

MD – We’re just starting to notice the impact of energy costs in the salon. Unfortunately, it’s meant we have had to increase our prices. However, we are optimistic that the energy price cap will help us in the future.

JC – We have also started to feel the pinch. Our energy bills have the potential of tripling. However, the price cap has helped ease some of the concern, but we have to seriously start looking at efficiencies we can put in place.

CH – Considering future sustainability for businesses is essential. We need to look at the available options that may positively impact business’ energy prices, such as switching to solar panels. It’s about finding a way of preparing for the future as well as helping address immediate financial concerns.

PC – High street businesses have had to deal with a lot the last few years - Brexit, the pandemic and now the cost of living crisis. This just highlights how robust our businesses are. They can adapt and change no matter what’s thrown at them.

PS – The businesses in Chesterfield are very resilient and will be able to weather this storm.

PC – The feedback I get from independent businesses is that they are all still really positive about the future.

How can Chesterfield’s local businesses ensure their survival now people have less disposable income?

PC – The future of independent businesses relies on us making better choices. Ensuring people make the choice to shop local and go to the high street rather than going online or to big retail chains.

JC - People who are from Chesterfield, like myself, enjoy shopping in town and supporting the local businesses and I do think that mentality will remain, as it did throughout Covid-19.

MD – Our concern with people tightening their belts, is that they may cut down on the non-essentials, like cosmetic treatments. We do have a loyal client base who enjoy buying products from their local salon and enjoy their experience with us.

PC – The Totally Locally Fiver-Fest is returning in October and aims to encourage people to visit local businesses.

JC – For those businesses that cannot change their prices on products to attract more customers, it’s important to consider what else could be an option for them.

PS – We know that local businesses can adapt to changes in the economy as we saw it during the pandemic. Rather than discounting products, maybe they could change their opening hours to appeal to a wider customer base, for example.

CH – Embracing digitalization and collaborating with other small independents to encourage more local engagement could help businesses and potentially ensure their survival in harder times.

MD – The use of social media can help encourage more visitors to our high street. Business should be posting about themselves and encouraging their customers to post about them to their followers.

JC – Having a happy workforce boosts business. Staff are also feeling anxiety at the rise in the cost of living, so we have invested in an employee wellbeing programme which is getting lots of positive feedback.

We will soon see big changes to Chesterfield’s marketplace and town centre as part of the Levelling Up fund. How much impact will this have on attracting people to the town centre?

PS – Investment in the marketplace will make a huge difference to who is drawn into the town from the tourist-heavy Peak District area, due to the different experience it could provide.

CH – The changing purpose and evolution of the high street makes this investment mandatory. We need to create a high street and marketplace beyond retail, one that draws younger people to the town, encourages social engagement and brings in people of all ages to enjoy the different elements of the town centre.

PC – There needs to be more in our town centre to keep young people here as they are our future shoppers.

CH – The market has its place in the town centre and does very well. Offering more experiences within it could enhance the hustle and bustle of the town for all ages to enjoy.

MD – We have found that even younger children’s parties tend to be outside Chesterfield. It would be great to see investment in more facilities and establishments for younger people in the town centre.

JC – It would be great to understand what the teenagers and younger children in town would like to be available here. This could bring a younger demographic to the town and create a more vibrant atmosphere in the town.

PC – If you have a venue for younger people, they will flock to it. Targeting the right audience with plans and developments is vital.

How do we see the new residential developments in and around town supporting our high street?

CH – Bringing people to live in the heart of the town centre means that they will use the shops, pubs and restaurants on their doorstep.

JC – The apartments and residential buildings within the town centre definitely fulfills a demand amongst young professionals and is fantastic for the town centre.

PS - There’s a massive amount of hope amongst businesses for the new residential developments in and around the town centre. Town centre residents are customers for the businesses based there.

PC – It would be great to see a lively ‘twilight’ period in the town centre created by town centre residents eating and drinking in local businesses after work.

CH – The new residential developments will attract a younger demographic. This is an opportunity for surrounding businesses need to provide products and services that they demand, like street food, pop-ups and vegan establishments.

JC – The food and drink sector has had a really hard time post-pandemic and now the cost of living crisis is taking its toll. I hope that the developments and plans for the town centre keep these businesses doing as well as they can in difficult times ahead.