In 2018 the average train commuter spent £2,605 and nearly 11 hours each week just to travel to and from the place of work.
For these workers who have been working from home during lockdown, the thought of resuming that cost and ritual is not an attractive one. What benefit they will wonder, to pay so much to travel for so long to complete the same work that can be done at home.
Businesses too will likely encourage working from home where possible, as to do so will solve the primary concern of ensuring workplace safety in the face of Covid-19.
Furthermore businesses with a team working from home will require less office space, which in turn will reduce overhead costs – particularly beneficial at a time when turnover and profit margins are squeezed.
With how we work changing, the present face of the High Street has already started to evolve.
Existing shops have been badly hit during lockdown, in many cases stock is going unsold and losing appeal to consumers. For most shops and leisure destinations, implementation of social distancing rules are anticipated to cause further hurt when lockdown is lifted.
Indeed, it is fair to expect closures among established High St brands as they consolidate operations to focus on most profitable outlets. In turn the closed outlets will lead to reduced business rates for Local Authorities and periods without rent receipt for landlords.
So how will this shift towards working from home translate to a Golden Age for the High St?
The path is clear – commuters commuting less to a central point of work, will directly have more leisure time at home. This increased leisure time will be spent somewhere, doing something.
As will the average £2,605 a year that could be saved on the commute cost.
Local businesses stand to prosper as increased local footfall will provide potential new opportunities. For those businesses suffering from the impact of social distancing, seizing this opportunity could be the key to long-term viability.
What is obvious however is that the businesses that will be most successful in catering to this expanded market, will be those that bring energy and vibrancy to their existing operations.
New local businesses will also have opportunity to start-up and thrive. Particularly as these start-ups will be catering to the specific local leisure demands of each area – so High Streets will begin to reflect the personality of their individual local town.
Imagine each local High St having a unique personality, be it for eating out, shopping, young family activities, active lifestyle, boutique clothing, crafts, market stalls…
2021 really may be the new Golden Age of the High Street.
* The official UK commuting times to work were 2 hours 11 mins by train, 52 mins driving, 44 mins cycling and 29 mins for those walking