The following is a list of the shops of Knebworth:
Hairdresser
Post Office
Estate Agent (Halcyon)
Portrait studio (new)
Bank
Estate Agent (Country Props)
Solicitor
Supermarket (small)
Charity Shop
Fish and Chip Shop
Locksmith (not really retail)
Estate Agent (Putterills)
Betting Shop
Indian restaurant and takeaway
Chemist
Tanning studio
Dry Cleaners
Bridal shop
Soft furnishings shop
Estate Agent (AMS)
Butcher
GP (not retail really)
Hairdresser
Beauty studio
Florist
Carpet fitters / shop
Blinds shop/fitters
Scooter/motorbike shop
Deli
Letting agent (Herts Lettings)
Art / Craft studio
Dog Grooming parlour
Car audio workshop
Opticians
Cafe
Newsagent
Dentist
Radio & TV
Estate Agent (ABC)
Hairdresser
Hairdresser
Funeral Directors
Builders Merchant
Off Licence/food retailer
Estate Agent (Admiral)
Chinese takeaway
Chemist
Baker
Funeral director
Signwriter
Estate agent (Mather Marshall)
Cafe
Beauty salon
Bead shop (yes, a shop which sells beads!)
Scooter dealership (also sells cars and does car and bike service).
Hairdressers
Beauty salon
Kitchen fitter
There are some premises with no obvious presence on the high street other than perhaps a door with a nameplate - there is certainly a recruitment firm and a financial advisor somewhere, but the above is the set of retail businesses in the 'commercial centre' of Knebworth, most of which I walk past each day on my way to the post office.
It is interesting to see the mix. What stands out for me is the sheer number of estate agencies. Not all are pure sales agencies, but clearly the vast bulk of income into these businesses is from sales, at least traditionally. The total sales in the last quarter on record in the SG3 postcode area, according to the land registry (e.g. from upmystreet.com) is around 17. With eight agents operating in the village this gives them about two sales a quarter each! Properties in Knebworth have an average price of £350K. If we assume that fees are around 1.5% we end up with total income per quarter into these firms of around five thousand pounds. This will barely cover their rent and rates, let alone their staff costs or advertising. A page in the local paper will cost around a thousand pounds. Letting fees will make a small impact on their finances, but will probably barely cover their marginal lettings costs.
I know a lot less about the economics of the other businesses in the village. I would guess that they are hardly better off, except the food retailers. Coming soon to a high-street near you: vacant retail premises at once-in-a-generation low rents. There are 22 retail presmiess available in a search in EGpropertyLink. This has to go up very soon.
Factors influencing this mix of retail businesses must include:
- if businesses are perceived to offer a particularly local service (estate agents)
- where the cost savings possible on the purchase for an average visit are likely to be small compared to the costs of travelling to Stevenage - dry cleaner, post office, newsagent, supermarket
- historical inertia - radio and TV, builders merchant
- costs or effort of transporting product back from shop to a home in Knebworth - builders' merchant - takeaway food suppliers, bakery
- unique service or product supplied to customers who travel from a long distance - motor cycle dealership, car audio fitter, dog grooming service.
- combination of product and service which is delivered locally - kitchen and carpet fitter, blind fitter, poss. car audio fitter
- customers are less than averagely likely to be able to get to shops where a cheaper product is offered - optician (also offers chiropody etc.)
- personal relationship with provider of product/service is important - solicitor, hairdressers, beauty salons
- services/goods where the average profit per customer is very high relative to the (modest) rents charged in Knebworth.
It is possible that local shopping will become more popular as people want to release 'working capital' and make more frequent and smaller shopping expeditions, travelling on foot or bike rather than car (or even by car, but using less fuel because of a much shorter journey). This will to an extent play into the hands of Knebworth shops, but I can't see that it will be enough. The products and services provided in Knebworth tend to be infrequent-purchase, high profit per visit kind of things, which are the ver things that hard-pressed consumers will save on in the months and years ahead.
