Neighbourlytics reposted this
We know that the economy is tightening and our SME's are struggling. But what can be done to support local traders and maintain #vibrant and #active local neighbourhoods? We did the research and the results are in.... Working in #placemaking for over 20 years, I thought I knew the answer: more time and attention in place-based programs to strengthen place identity. And while that's not wrong - it can be a long slow road, and there may actually be a more impactful way to safeguard our town centres from economic downturn. Flipping the problem on its head, we recently undertook intensive research with the people that are the primary driver of local vibrancy: the traders. From cafes to vets, and waxing salons to pharmacists, we interviewed over 300 small and medium local traders to ask them: "What do you need to make the most of your mainstreet location?" WHAT WE HEARD FROM TRADERS: 1. We want to stay in our retail location, but are unsure how to justify the overhead in uncertain times. 2. Our market is changing. We used to really know our customers, but so much has changed about local life it's hard to know if this is a phase or the new normal. 3. We are now data literate - and CRAVE more data. Online commerce platforms have boosted trader literacy in data to drive decisions. But have little/no access to quality data for their in-real-life locations. WHAT INFORMATION TRADERS NEED: 1. WHO can access me? While traders know the local area, they have limited understanding of the accessibility to inform advertising efforts, or recruitment campaigns. 2. WHY do people come here? Traders are often concerned about whether their location has the exposure they need, and whether it's 'worth staying' in the local area. 3. WHERE do visitors to this area come from? While they may know their local customers, they don't know if there are opportunities to capture visitors from adjacent businesses. More than 2,000 Australian place makers are using Neighbourlytics data to support their local traders. Create a free account now to test the tools for your location: https://bit.ly/3YC34av