'Bricks and mortar' stores predict a comeback after Covid as Broadgate plans new retail hub
- Credit: James Gillham
A new luxury shopping centre has been unveiled at Liverpool Street ready for life after Covid with the idea that consumers in lockdown are just itching to get back to real bricks-and-mortar stores.
The massive Broadgate complex has launched its 100 Liverpool Street retail hub for high fashion and beauty, next to the main line station, with a “sensory experience for shoppers”.
The 90,000sq ft development is part of Broadgate’s £1.5billion investment with five million sq ft of offices, stores and restaurants within walking distance of Spitalfields, Aldgate and Shoreditch.
“The coronavirus crisis has shut many high street businesses,” analyst Natalie Berg said. “Mediocre 2020 players won’t survive the pandemic and are unlikely to return as traditional retailers.
“But there will always be a place for bricks and mortar retailing."
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Analysts say stores need technology for online presence to survive and switch to contactless payments to speed sales.
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