COVID-19 Epidemic Changes the Vision of Death of the High Street

Assessment

Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
COVID-19 epidemic changes the vision of death of the high street...........................................2
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
The British high street has suffered a great loss in recent months. Shop closures have led
to increases in online shopping. Death of the high street basically means that a big store closes
because of online shops, large super markets and change in customer preferences. During the
time of novel corona virus pandemic, most of the consumers are going online as they do not want
to be involved in doing physical shopping. This has led to downfall in the sale of small retailers.
There has been slower rate of opening of high streets and the closure rate is really high. The high
street retailers are also hit by the financial crisis. Present report will lay emphasis on COVID-19
epidemic changes the vision of death of the high street
MAIN BODY
COVID-19 epidemic changes the vision of death of the high street
It has been analysed that the death of high street has provided significant opportunity to
spa, events, hospitality and tourism sector to grow business in these areas. They can change
advantage of the change in consumer behaviour. Even prior to the Covid-19 crisis high streets
were in decline, the Covid-19 crisis may well be their death knell. In this the hospitality and
tourism organisation can be involved in changing the retail outlets to more of residential use.
They can build up guest houses over there or even home for elderly. This can assist them in
expanding their business. The retail high street is being declining that now a day’s consumer
prefers to only buy online as this has increased their flexibility. They do not want to visit
physical stores (Selfridge and Mitchell, 2020). The tourism organisation can set up their offices
or even stores over there. They can purchase the land from retail store owners. This can assist
them in expanding their business and also, they will be able to gain competitive advantage
because of it. As during the time of corona virus pandemic hospitality business are also suffering
the death of high street can emerge as an opportunity for them. With the closure of shops in
streets, they can purchase them and build innovative stores in order to attract consumers. They
can open spa and relaxing rooms which is really necessary during these tough times. Also, by
opening up stores over the hospitality and tourism can also provide services of spa at home. This
will convert their problems into opportunities and they will be able to attract more consumers. It
will also assist them in increasing their profitability. They should make sure to have a check
upon consumer attitudes and behaviours as their preferences change by time to time. This
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mistake was made by high street retail store owners as they were not being able to analyse
consumer behaviour.
The high street retailers are facing long term decline in their business. This can become
opportunity for hospitality and tourism, they can also open up large super market chains over
there. This can assist them in expanding and diversifying their business. It will assist them in
increasing their profits as well as revenue during these tough times. It has also been analysed that
there are various challenges which is being faced by local stakeholders. Streets have been
preferred location of shopping’s since the urban civilisation. The high street in Britain was in
decline since financial crisis (Hubbard, 2017). E-commerce has reduced down reputation of high
street. Consumers now prefer to buy online as lots of different products are being given to them
through digital marketing. And during the time of novel corona virus crisis, consumers are not
preferring to go out so they order online. This can be converted as an opportunity to hospitality
and tourism. They can build up attractive tourist places instead of retail shops. This will assist
them in expanding and diversifying their business. They can also open restaurants and food
services which provides services online too. This can assist hospitality organisation to be in
market even during the time of novel corona virus pandemic. Various event company can be
open up at that place, so that booking for events by consumers can be easier for them. This can
also assist event company in having physical services at a better location. So, by this it has been
analysed that death of high street can be developed as an opportunity for hospitality, tourism and
events (Dobson, 2018).
The role of hospitality has become really important during the time of novel corona virus
crisis and the death of high street retail stores. British town centres and high streets have
undergone dramatic change over the last decades. It can be reason of change in policies, change
in demographic and transportation situation. The recession period of 2008 had led down business
of high streets (Drechsler, 2019). It means that before coming up of corona virus even the high
street retail shops were suffering. It has been analysed that in this the hospitality business can
took this opportunity and they can re-invent their business which is been suffering because of the
global pandemic. The hospitality business can also be involved in hosting off events in high
street with half capacity. This will support the hospitality business in building up their brand
reputation and also, they will be able to attract high range of consumers which is really necessary
for their growth. They can also show caste the activities and events conducted by them digitally.
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