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This paper aims to examine the reasons for the rise and fall of the UK high street shop as an investment class for financial institutions.

The paper begins by tracing the scale of investment by financial institutions in shops and the reasons for their historic popularity. The next sections review the changes in retailing and the consequences in terms of the current retail offering. The consequences and implications for retail investment are then considered in terms of institutional portfolios and (relative) investment yields. The research is based on a review of a range of secondary sources and an analysis of the Investment Property Databank database.

The traditional UK high street as an investment class has been challenged by the decentralisation of retailing and new retail forms over the last 30 years. While the city centre is still the principal location for comparison retailing, the consequence has been a restructuring of institutional investment portfolios and of relative yields. The number of high street shops in investment portfolios has halved since the mid‐1990s. There are threats from online shopping and the recent recession has further queried the original arguments for investing in high street shops. However, the driving force for the decline of investment in high street shops by financial institutions appears to be the short‐termism.

The paper reviews the changing fundamentals of retail property investment to explain the decline of the high street shop as a property investment class.

The purpose of this paper is to document the results and the impact of the ESRC-funded High Street UK 2020 (HSUK2020), a project designed to take the existing academic knowledge relating to retail and high street change directly to UK High Streets, to improve local decision-making and, ultimately, their vitality and viability.

Through a systematic literature review, and by following the tenets of engaged scholarship, the authors identified 201 factors that influence the vitality and viability of town centres. Through the consensus-building Delphi technique, a panel of 20 retail experts identified the top 25 priorities for action.

Taking a place management approach led to the development of a more strategic framework for regeneration, which consisted of repositioning, reinventing, rebranding and restructuring strategies (4R’s of regeneration). Collaboration with the project towns resulted in identification of the strategy area that would add the most value, and the impact of the 4R’s and the top 25 priorities is demonstrated via numerous town examples.

Knowledge exchange projects, such as High Street UK2020, have an important contribution to make, not by developing even more theory that is unlikely to get utilised, instead their contribution is to bring existing theory into practical use.

The purpose of this paper is to examine how independent social and commercial activities have developed in response to the perceived decline in the UK High Street and in response to the challenges of increasing digital retailing opportunities. This examination is undertaken through the lens of the social supply chain as a means to understanding, suggesting and expanding on current research regarding retailing and the UK High Street. The authors reveal some of the challenges being posed by the changing patterns of growth and consumption in cities and couple these with shifting supply chain trends.

A case study approach is used to explore the rapid advances and influence of digital technologies on businesses operating on the primary business street of suburban centre, towns or cities (described in the UK collectively as the “high street”). The research is conducted through the analytical lens of the social supply chain.

Theoretically extending the “social” in the social supply chain, the authors illustrate the usefulness of the nuanced concept of the “social supply chain” with two related strategies concerning delivery and balance. These strategies are themselves interlinked with the actions of co-creation, co-production and co-consumption. Examples of social supply chain strategies presented include retail businesses giving away something as an incentive, where the underlying requirement from the customer is that they will bring their own specialist product, skill or social network to a specified location (real or virtual).

For the purpose of this paper, the authors use two distinct strategies relating to delivery and balancing and in relation to the actions of co-creation, co-production and co-consumption to emphasise and analyse changes currently occurring in the UK High Street. The authors take a social supply chain management (SCM) perspective to undertake a systematic critical review of the various recent efforts undertaken by local governments, communities and trader groups to revitalise the High Street.

The purpose of the paper is to present and critically discuss the findings of the ESRC-funded HS2020 project. The aim is to discuss the retail-led change that has happened to the High Streets that participated to the project that, in some cases, is revolutionary and is leading to the reinvention of the place. To do so reference is made to various retail change theories discussing both institutional and consumer-led change.

This is a discussion paper on the findings of the HS2020 project.

The major finding reported in this paper is that the reinvention is a natural learning process that involves the comprehension of change and the development of knowledge that will lead to the reinvention of the High Street.

The findings of the research are based on data that were collected from a total of ten towns across the UK.

The paper suggests that to reinvent the High Street the stakeholders that are involved in the place decision-making processes they should embrace the change as a natural development and try to understand and learn from it rather than resisting to it. The HS2020 project provides a comprehensive guide of the areas that change can be managed and if it happens it can facilitate the reinvention.

The paper is relevant to the academic community, as it offers insight to the theories of retail change, and to the practitioners, as it provides evidence as to how to deal with the change that happens to the High Streets.

This paper aims to examine the role of “restructuring” in confronting the challenges facing contemporary high streets in the devolved UK. It complements three articles concerned with repositioning, reinventing and rebranding and illustrates the multi-faceted approaches involved in addressing retail change and town centre transformations. This paper emphasises the role of planning and governance in effecting change.

Informed by a literature review, action research involved inter-related interventions in selected locations, and associated workshops with engaged practitioners and community actors.

The findings highlight that the “resilience” of contemporary town centres demands resisting efforts to return to the status quo and necessitate forms of adaptive management. Understanding high street degeneration and the limitations of a retail-only led policy focus as a “wicked issue” further demands socially constructing town centres as an ecosystem requiring a holistic response. New forms of joint-working involve selecting appropriate models, attending to relational aspects and defined roles and responsibilities. Land use planning, including masterplanning and creating evidenced policy options, provides an important democratic space for legitimising action, offering leadership and extending participation to new change agents.

Restructuring of governance is an essential prerequisite in effecting change.

The originality of this study lies in the application of the restructuring element of the 4 Rs Framework which enables a focus on the governance dimensions of town centre and high street regeneration. The findings are enhanced through the experiential evidence which stresses both the importance of place-based diversification and value of prioritising holistic and joint actions developed through participatory visioning exercises.

The purpose of this paper is to investigate the relationship between urban design quality and the real estate value of high street retail properties. Quantitative research on the added value of quality design has seen little advancement during the past two decades and hedonic analysis of the high street retail sector remains embryonic. This paper bridges this gap by providing empirical evidence on the added value of quality design.

The study uses a unique dataset of 301 Belfast City Centre retail transactions during the period 1994‐2009. Ordinary least squares (OLS) regression analysis is used to estimate a hedonic pricing model that utilises a composite range of variables. These variables were designed employing quantitative and qualitative approaches complementarily to strengthen the value of the empirical research.

The findings suggest that aspects of quality design such as connectivity, frontage continuity and variety, material quality and massing appropriateness add to real estate value. These findings supplement those on sector‐specific value determinants that emphasise the high impact of location, tenant characteristic and Zone‐A price calculations.

In analysing high street retail rent determinants this paper focuses on the impact of various aspects of quality design to inform investors and developers about those aspects that are highly valued by city centre retail tenants. Policy makers benefit from the findings through empirically justified built environment benchmarks for improving the quality of life in our cities.

This study provides a quantitative model for measuring urban design quality which uses data from a UK city but has a wider application range. It bridges a significant gap in the literature related to hedonic investigation of the added value of quality design by providing a holistic approach to quality.

The purpose of this short article is to outline a research agenda to further our understanding of how retail areas are influenced by, and adapt to, change. This is part of an Economic and Social Research Council-funded project High Street UK 2020.

We outline a research agenda – containing factors which High Street stakeholders in Alsager, Altrincham, Ballymena, Barnsley, Bristol, Congleton, Holmfirth, Market Rasen, Morley and Wrexham have identified as influencing the vitality and viability of their retail areas. Currently, there is little or no academic evidence available to support these factors; therefore, they are worthy of further research.

The towns assert that the following factors influence High Street performance (either positively or negatively) and need further research: business support; engagement and engaged businesses; fragmentation; information; Internet connectivity; local knowledge; measuring economic impact/value; media coverage; networking; public sector dependency and risk aversion.

Only 10 towns have taken part in the research. Nevertheless, they are representative of the research-user community for retail centre research.

This research agenda will enable researchers to respond to a clear gap in our knowledge about High Street performance, as identified by towns themselves.

By undertaking the research that people that manage retail areas need, it will enable practitioners to make better informed decisions and manage these important areas more effectively to the benefit of their local communities.

By allowing town centre managers, traders, council members/officials and “concerned citizens” to set the agenda for research production in the area of retail centre change, we anticipate forthcoming research in this area will be more highly valued by practitioners and have more impact in “the real world”.

The purpose of this paper is to introduce engaged scholarship as a method for addressing the “wicked problem” of High Street change through successful collaboration and co-production of knowledge between academics, practitioners, citizens and other place stakeholders.

The first part of this paper introduces engaged scholarship as a participatory form of research and situates it within the context of the High Street. The second part presents the case of High Street UK 2020 (HSUK2020) via Van de Ven’s diamond model of engaged scholarship as a guide.

Engaged scholarship’s focus on knowledge production and on collaboration between the research team and the community enabled us to improve the understanding of factors affecting High Streets amongst a diverse group of stakeholders and focus on what works for the towns. The ongoing impact of HSUK2020 on the project towns’ action plans and on this current research is testament to how engaged scholarship research can drive the agendas for both academics and communities.

The paper presents engaged scholarship as an alternative collaborative method of conducting research on the High Street, one that is more in line with the current trends in retailing and works as a motivating factor for community engagement.

The purpose of this paper is to establish the influence of shopping motivations on Chinese fashion retail engagement relative to demographics, monthly spend on fashion items and high street/electronic commerce (e-commerce) preference. This is to determine how international fashion retailers should design more effective retails channels, expanding upon established theory in Hedonic and utilitarian motivations. While earlier research suggests shopping motivations associate with demographics while influencing retail channel preference and consumer spending, much of this exploration is Western focused, with all variables being influential. However, the degree to which these apply to China, and the unique fingerprint of influential motivations remains unknown. This paper answers these questions to allow international retailers to develop more efficient marketing strategies and design more effective retail channels.

In all, 403 Chinese consumers generalisable to the broader population were surveyed on their hedonic and utilitarian motivations to shop for fashion apparel in high street and e-commerce environments. Statistical analysis was commenced through direct logistic regression and MANOVA.

Demographics have limited association with shopping motivations, with gender and age only producing small effect sizes, while occupation, income and education has no significance. High street store preference is influenced by adventure and social shopping and e-commerce preference only by idea shopping. Spending over ¥1k per month on fashion apparel is influenced by gratification and idea shopping, and regular spending habits inspired by value shopping.

This empirical paper characterises the fingerprint of shopping motivations’ influence as singular to China while proving their limitation and need for a wider plethora of influential factors to be recognised.

The purpose of this paper is to explore the levels social media (SM) platforms are influencing consumer decision-making process for Generation X and Y consumers in the retail fashion environment.

This study adopts an interpretive, exploratory approach, applying a qualitative design. The research involved eight in-depth interviews and two focus groups in order to gain in-depth insights of two generational cohorts opinions, arguments, motivations and ideas.

The findings revealed that consumers use a variety of internal and external motivations that influence their behaviours and perceptions of high-street fashion retailers, and these factors are aided and facilitated by the use of SM. However, the research also revealed that SM is not the only source that motivates their consumer decision-making process, and with the proliferation of active users on SM, these platforms are (and will continue to have) an ever more increasing impact on consumer decision-makings. Participants were found to actively use SM to gain inspiration and information regarding high-street fashion retailers, however their final intentions to purchase were not as highly influenced by the content produced as previously expected.

Prior to consumers’ making any decisions they are impacted by various stimuli, however, with the proliferation of active users on SM, the influence these platforms unconsciously have on consumer behaviour is vast. Therefore, suggesting that consumers are not as predictable as traditional consumer decision-making process (CDMP) theory postulates. Although thought processes do appear to exist, consumers now demonstrate a much more complex process, which create multiple layers of motivations where internal and external factors overlap.

The findings of this study present valuable implications for high-street fashion marketers and are anticipated to enhance and deepen fashion marketers understanding of CDMP when using SM. Thus, they must strive to understand and provide relevant content to consumers’, not only for Generation Y but also Generation X, responding to quickly changing consumer demands and expectations with both of these cohorts. Overall, these findings propose that high-street fashion retailers on SM must understand the complexity of internal and external factors motivating consumers to interact with retailers online and off, and therefore, generating added value for their consumers. This is useful within marketing practises.

This paper gives some clarity and insight into the motivations of consumers in the fashion retail environment, from a digital influential perspective.

The findings concluded that SM has created a consumer that can be impacted at any stage of the decision process and has added to the research regarding unplanned consumer behaviour. Participants behaviours were stimuli-driven and user-controlled. Therefore, this had a larger impact on inspiration as opposed to modifying their behaviours to align exactly with trends or products.