Bright forecast for Peterborough city centre as retailers face stormy time

Retailers in Peterborough can look forward to brighter times despite a forecast of more stormy conditions ahead,it has been claimed.

The upbeat message comes from an academic at ARU Peterborough who says that some innovative retailers and the work of Peterborough Positive are already improving the experience for customers.

The upbeat assessment follows news that two long-established retail giants WH Smith and Boots are battling to stay on the nation’s high streets.

Stuart Potter, senior lecturer in business at ARU Peterborough, said: “The picture is not all doom and gloom — retailers are fighting back with some fresh ideas which may actually improve the experience for consumers.

"What is really positive to see is that, at the heart of the revival, there is a renewed focus on the community.

"Events, local collaborations, demos and gatherings are breathing new life into the high street – helped by local organisations such as Peterborough Positive and Community Interest Companies, such as Up The Garden Bath.

"By becoming more than just a place to buy goods, these retailers and organisations are helping to re-establish Peterborough’s City Centre as the vibrant heart of Peterborough.”

His comments come as uncertainty grows over the future of stationery giant WH Smiths, which operates a prominent store in Bridge Street, and pharmacy and beauty products retailer Boots, which has a large store in the Queensgate Shopping Centre with its frontaqe leading out into Long Causeway.

Both national retail companies have been put up for sale with the owners struggling to find buyers.

If they were to leave the city centre, it would follow the closure of department chain John Lewis, Next and Marks and Spencer, from the Queensgate centre, Mothercare and Wilkos from the city centre.

Retailers are also expected to suffer as the Government hike in employers’ National Insurance contributions take hold along with increases in the National Living Wage.

Mr Potter said: “As with other parts of the country, stores in Peterborough’s High Street are feeling the squeeze.

"The recent dip in the economy helps to highlight the already challenging time for bricks and mortar retail and goes some way in explaining why WHSmith has only attracted two potential buyers for its high street store portfolio.

He said: “Many Peterborough businesses are starting to transform their stores into more than just places to shop.

"They’re becoming community hubs where customers can enjoy interactive events, get a cup of tea at in-store cafés or even catch a live performance, demonstration or tutorial.

"This blend of retail with real-life experiences is drawing people back to the high street.

Retail expert Mike Greene, chairman of the Peterborough and Stamford Chamber of Commerce, said: “It isn’t about the survival of the fittest anymore it is about who can adapt and change the fastest.

“WH Smith and Boots are tired, outdated and uninspiring and shoppers can easily get online what they provide.”

Mr Greene said that the city centre offer had been improved by the opening of the Odeon Luxe cinema and the forthcoming opening of retail giants Frasers would be welcomed.

He said: “The city centre needs to ensure its is lighter, brighter and cleaner and the work of Peterborough Positive in this direction is a beacon of light.”