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Inspiring Retail APRIL/MAY 2015 Inspiring Retail February/March 2015 BC 3 Introduction / contents 03 Launch of Inspiring Retail Group 04 10 Successful Festival Trading for Retailers 05 Edinburgh Chamber Importance of the Retail Industry 07 celebrates success at Business Mentoring Scotland 08 our annual Awards Chamber Benefits 09 Edinburgh Chamber Awards 10|13 60 Seconds 23 05 28 Business Stream Appointment 24 Successful Festival An interview with Getting into Retail Management 25 Trading for Retailers Gordon Drummond, Bohemia - A part of Edinburgh’s Mix 26 General Manager at Harvey Nichols A Passion for Retailing 28 Feature: Health and Wellbeing 30|38 Partners in Enterprise 39 Ask the Expert/New Members 40 Inspiring Retail Getting Started 41 Be The Best/Get with IT 42 Retail is business critical to Christmas is one of the latest examples, and in this issue we learn how important that Going International 43 a healthy and diverse Capital event has been in helping retailers at their City. most vital time of year. Chamber Training 44 The retail sector is a major contributor to More than 300 people attended our glittering In the Spotlight 45 our economy through the jobs created, 2015 Business Awards at the Sheraton Grand investment it brings, and a significant driver Hotel. The awards are designed to celebrate Feature: Property 46|51 the enterprise, creativity and excellence of of football both domestically and to meet Inspiring Connections 52|53 the needs of growing visitor numbers. In this our members, so it was entirely appropriate issue we launch our Inspiring Retail Group that the evening was our biggest and best Movers & Shakers 54 highlighting the sector as a strategic priority to date. Once again, talent and hard work for your Capital City Chamber of Commerce. shone through. A full list of the winners and photographs of the evening are featured - Gordon Drummond, a Director of Harvey congratulations to all of them, and our thanks Nichols, has been a champion of Edinburgh’s to all who attended and supported the event. retail sector for many years. His view that Join Edinburgh the city’s ever-growing reputation as a retail We look forward to welcoming even more destination is founded on the twin pillars of members to our Chamber of positive partnerships and a diverse offering packed events is well worth reading. His views are echoed programme over Commerce by Jenny Lockton, another city retail success the Spring and story, who is the founder of Bohemia Design Summer months. Our membership base is truly Ltd. Jenny tells us how harnessing digital multi-sector, multi-scale and technology is helping drive her business. multi- national. As we develop our geographic reach, we continue Partnership is a word that appears regularly. to welcome new members who A prime example is in the way the city comes can enjoy exclusive benefits of together to create world-class festivals to being part of Scotland’s capital city help bring visitors to the city. Edinburgh’s Chamber of Commerce. We would be delighted to share with you the benefits of joining. David Birrell Contact our dedicated membership Chief Executive, Edinburgh Chamber of Commerce team on 0131 221 2999 or [email protected] e-mail membershipadmin@ edinburghchamber.co.uk Front cover image: Essential Edinburgh February/March 2015 BC 3 CHAMBER NEWS St James Development With an estimated value of over £850m, creating 750,000 sq ft Launch of Inspiring of retail space, a five star hotel and up to 250 private residential apartments, Edinburgh St Retail Group James will be the new jewel in Edinburgh’s crown. Set against a By David Birrell, Chief Executive, Edinburgh Chamber of Commerce stunning backdrop, Edinburgh St James will introduce high-street, aspirational and lifestyle brands to The contribution that the Retail Sector makes investment from key Retail brands. Investor one of the world’s finest locations. to the attractiveness and effectiveness of our confidence is also growing as demonstrated Capital City is business critical. The quality, by the £850 million redevelopment of the The new development will be the choice and continued investment in Retail is St James Centre and we must ensure that Scottish capital’s prime shopping key, as Edinburgh’s population is expected to investment continues right across the City destination and new heart of the grow to 600,000 by 2030 as well as planning including our out of town Shopping Centres. city, linking with and expanding the for strong growth levels in students and existing retail pitch of George Street, Effective transport links are already attracting visitors from all parts of the world. Princes Street and Multrees Walk. Its more shoppers and the investment in outstanding connectivity will create Key to this success are the business enablers transport infrastructure improving Edinburgh’s an exciting hub for Edinburgh’s including Property, Transport, Digital and connectivity must continue as demonstrated thriving day and night-time Talent. At Edinburgh Chamber of Commerce by the benefits of the new Tram line. economy – the new beating heart we recently launched our ‘Inspiring Retail’ The Retail Sector is a key provider of jobs, of the city centre. Group whose key priorities are to support developing our capability to meet customer the development of a world class shopping A world-class example of city needs as an International City is essential and experience in our Capital City and across the enhancing place-making, we continue to benefit from the partnerships Edinburgh Region. This includes consultation Edinburgh St James will be one of between Education and Retail. This results with other key cities across the UK on how the UK’s largest and most significant in a richer source of Talent and we must the key business enablers have supported regeneration projects. Construction ensure that our Retail Sector objectives their Retail Sector. is scheduled to start in 2015, with are embedded in our long term strategic completion due in 2020. The City has benefited already from priorities. resurgence in our Retail offer and continued 4 BC April/May 2015 April/May 2015 BC 5 CHAMBER NEWS A Christmas and Hogmanay Cracker For Edinburgh Businesses By Andy Neal, former compared to the UK average with Edinburgh In the final quarter of 2014 overall visitor up +4.4% vs the UK average of -2.1% and expenditure experienced significant growth Chief Executive, Essential the BID area up +5.7%. The highest increase compared to Q4 2013, according to the Edinburgh in footfall in the city centre, compared to Edinburgh Visitor’s Survey, an on-going December 2013, was South St Andrew Street, survey conducted by LJ Research on behalf Edinburgh city centre businesses have given up 18.7% although both George Street (at Nat of Essential Edinburgh. This growth was resounding backing to the city’s Christmas and West) and Princes Street (At M&S) were also distributed and observed across all categories, New Year festivals after enjoying successful considerably up, 14.1% and 9.8% respectively. with shopping spend increasing by 7% festive trading fuelled by high footfall. compared to the final quarter in 2013. Over Why is it so important that our shops have 80% of all visitors surveyed shopped whilst A survey carried out on behalf of Essential a good Christmas? Clearly, it is the most they were in Edinburgh, the second highest Edinburgh, which runs the city centre important trading period for most retailers, activity after walking around the city. This Business Improvement District (BID), looked and that is of great importance to the wider shows not just how important retail is to a at all kinds of businesses in the city centre to economic health of our city. Buoyant, thriving city centre for locals but for tourists fully gauge the impact Edinburgh’s Christmas confident retailers invest in our city and that too. and Hogmanay activities had on businesses creates jobs and wealth and brings great within the BID area. benefits to all parts of our local economy. Although tourists are spending on shopping, the vast majority of spend comes from locals. In particular, the survey looked at how the That is a view clearly shared by the Scottish This group has been targeted in two ways activities have benefitted the city centre’s Government. They describe Retail thus: in recent months; Edinburgh’s Christmas Retail Sector – along with hospitality. “As one of the most significant sectors of offering a discount for all those with an the economy, retailing is one of the largest The figures make very positive reading. The Edinburgh post code – 97,500 tickets sold Scottish urban employers. But more than this, survey highlights that 60% of retailers saw an with an EH postcode discount – and through the quality and range of a city’s Retail Sector increase year on year for December, with a the “This is Edinburgh” marketing campaign. reflects on and contributes to its vibrancy, further 20% trading in-line. A recent survey identified that those who image and attractiveness to residents and are “very proud of their city” has increased visitors alike. A growing and dynamic retail Retail sales for Edinburgh in December 2014 from 51% to 88% over the last year and sector can help restore and rejuvenate our were up by +1.2% compared with the Scottish interestingly when asked what made them cities.” average of -1.8% and the UK of -0.4%. most proud it was Edinburgh’s nightlife, A key factor in delivering the increased figures In other words, Retail is a vital employer and restaurants, bars and shopping. This all bodes has been the role played by the Christmas generator of jobs and wealth, but it also plays well for the future prosperity of the city.
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