Last month the government announced plans to invest in the night time economy as a new avenue to drive growth in the economy following Brexit – as a knock on effect there will be more shop fitting roles available. We take a closer look at what’s brought this about.
Studies by Ernst and Young suggested that by the year 2030, London’s night-time economy alone will contribute a massive £30 billion per year to the country’s economy. This is likely to be the case in many other cities throughout the UK too, with places like Newcastle and Liverpool already benefiting from vibrant night economies.
What does this mean for the retail sector? According to Ernst and Young, the night economy will be driven by an array of people working and shopping during the night. Therefore, there will be an opportunity for retail outlets and the leisure industry to operate on a 24-hour basis, catering to the needs of late night workers and revellers.
What does this mean for shop fit out jobs?
As a result of this study, it is envisaged that there will be a growth in the retail sector as business look to target a new market and demographic. Stores such as ASDA that operate 24-hour shopping have benefited from the growing night time economy. With a scramble to increase revenue from the night time economy, it is highly likely that there will likely be an increase in new retail units and shop fit outs.
The government is also looking to relax Sunday trading laws which they believe could create 3,000 more jobs and £200m extra revenue. Subsequently, with an increase in footfall businesses will be looking to upgrade their units, resulting in more fit out jobs.