Shop keepers could suffer a double whammy to profits this year with a new one way system being enforced for this years Christmas market and the constant competition from online shopping.
From Thursday Lincoln hosts its annual Christmas market, a time when retailers, especially on steep hill, are hoping to maximise their sales.
Ben straw, Manager of Steephill wines, said that there is a “general festive uplift and a noticeable lift when the Christmas Market is on, we can do a couple of weeks worth of trading in four days”
Anne Stevenson from The Kensington store, relies heavily on passing trade and the market; “we rely on steep hill, particularly our shop for tourist trade. If it’s a bad summer the Christmas market is a real life saver for a lot of businesses here. We tend to buy in a lot of extra stock. Christmas market is manic, it always is this time of year, but it really builds our money up and we rely on it here definitely”
However the new one way system has some retailers worried about there sales. Sarah Leason, sales assistant at Mono Boutique is one of them;
“I know the one way system has had a massive impact on shops down here, everyone’s really worried about it because when people go up they cant go down, and in all honesty I think we are all worried about how we’re going to get through next year as the market usually makes such a difference as to how we get through the harder months like January and February but this year those profits are going to take a knock.”
This Monday also saw record breaking sales online, and it is estimated that over £5billion will be spent by the British public on gifts online this year.
Mr. Straw said that Steephill wines; “personally do a lot of trading online and I think you’ve just got to grow with the times, there’s enough competition out there and you have to take all the chances you can get. If that means going online then you have to”.
Mrs. Stevenson thinks online is has a negative impact on high street stores: “a lot of shops suffering because of it, for example; girls can go on internet on lunch and order shoes or perfumes online and get them delivered.”
David, Yak manager agrees; “I would say for a lot of businesses it affects negatively, a whole new set of choices, people look in existing business and then go online because online retailers can get prices down lower because they don’t have to pay for a high street premises”
However, Sarah Leeson, sales assistant, thinks that online can be good, “it is more convenient, and you can sit at home on cold and rainy days and do all your shopping online”.