The 'Roaring Twenties', Vegan sausage rolls and The Lost Boys.

With the North Dial’s restored blue clock face now fully revealed, the Great Bell of the striking clock at the north end of the Palace of Westminster rang out across the capital to mark the start of the New Year.

The twelve triumphant chimes from Big Ben signalled an end to the previous year and the beginning of a new year. The end of the previous decade and the start of a new decade. 

The Twenties have begun - The Roaring Twenties - a period of economic growth and widespread prosperity. A time for fresh hope and a renewed sense of optimism. A chance for wild exuberance and over indulgence. And why not?

(Whatever your politics) We have finally had a landslide General Election victory and formed a new majority government in the UK providing clarity and an ability to move on, get things done and allow something other than Brexit to dominate the political and national landscape.

International investors, so long put off of the UK by talk of Brexit, are showing signs of returning and the UK indices are rallying. At the end of December the FTSE 100, 250 and AIM markets were all up with the All-Share index up 14%.

The UK’s unemployment rate continues to fall and is closing in on a 45-year low - with wages on the rise.

The UK has just gone through an entire decade without once being in recession - that hasn’t happened for over a hundred years!

The US/China trade war is showing signs of dying down - even Arsenal Football Club look like they have turned a corner! 

The last time we entered a new decade called ‘The Twenties’ we had just come out of The Great War - so taking things into context I believe that there are plenty of reasons to hope that this decade will be a decade to look back on and be remembered for the right reasons.

But woe betide me for having written these thoughts down for any and all to see as what should happen?... But within the very first week of the new decade I read the news only to find that the ‘Retail Apocalypse’ continues to be in full swing with HMV and Debenhams closing down more stores. 

Perhaps this wave of euphoria and fresh optimism is misplaced? Perhaps not.

Firstly, is anyone really surprised? 

When was the last time you bought a CD from a store on the High Street? Streaming now accounts for 75% of the music industry - will HMV’S fate really be so different to that of Blockbuster Video?

With British High Street retailers closing, like Debenhams and House of Fraser, does this mean that we are no longer buying clothes anymore? Certainly not. Fashion remains almost the top selling industry online in all of the world. 

We are still making the same purchases, we still have the same needs and wants - it’s just that our buying behaviours have changed and therefore this is reflected on the face of the High Street.

No longer can the likes of Toys R Us continue to run their business with their huge warehouses for stores - complete with all the associated overheads - without looking to repurpose them for customer experiences that today’s customers want.

No longer can the likes of Tie Rack run a business with over 450 stores selling a product today’s generation just isn’t that enthused about.

No longer can the likes of BHS continue to exist without innovation and ability to capture and cater to today's consumer market rather than get left behind somewhere in the middle by more upmarket retailers and discount retailers.

New trends have emerged. Second-hand sales have soared online - no longer stigmatised as being for those with low economic status but as a great way to purchase quality products at half the price. 

The Pet Industry is booming. Pet grooming products, pet beds, pet toys, etc. Over 40% of people in the UK own pets and this number has been steadily growing for years with the industry itself expected to reach over $3.5billion by 2025. 

Restaurants, coffee shops and cafes are increasingly replacing retail outlets. The ever increasing array of people’s food requirements, tastes and personal preferences need to be catered for. Veganism is ever increasing, meat free foods are on the rise and has it’s very own industry now worth around ￡740 million a year and growing. 

Is it any wonder that with ‘Animal Welfare’ being one of the top reasons that people are giving up meat that the pet industry is now booming?

Perhaps the face of the UK High Street will become a place to bring your dog for a walk to meet other like minded individuals to go shopping for dog biscuits and dog coats - making use of the old warehouses that Toy R Us used to fill with unsold Toys - and maybe purchasing old, used and nostalgic books at half the price (after all Borders doesn’t exist anymore) whilst sitting down eating your Greggs meat-free sausage roll?!

Whichever way you look at it - the times they are a-changin’. Young and old Brits have very different visions of what their High Street should like. Almost 30% of people over 65 would prefer that the High Street contain a travel agents and a newsagents. 

Travel and tourism has adapted well to the online revolution - when was the last time you bought a plane ticket or hotel ticket in person? And as for newspaper - the most used platform for news nowadays is the internet, with even radio coming in before the newspaper. Plus didn’t you know - “skipping newspapers, save the Planet!” (Whether this is true or not the younger generations are onboard with it)

Whereas the preferences for those between the ages of 18-24 are for more cinema, restaurants and video games stores. Video Games stores?... Maybe this decade brings about more stores like the comic book stores of old? The stores run by such famed characters as the Frog Brothers? Places where experiences are had which are profound, rare and fundamentally worthwhile. Perhaps Social Media will take a dive this decade and people just actually become more ‘social’?... 

We have a growing population and an older generation being replaced by the new generation. Millennials are literally on the cusp of overtaking Baby Boomers - if they haven’t done so already. Which means, for the High Street at least, that space is shrinking and comes at a premium so therefore you have to get your offering, products, services and experience right else who knows - we may be writing your obituaries before the new decade is out.