Shop around the clock: Retailers urged to open ALL hours
HIGH STREET shops which introduce round-the-clock opening hours are increasingly cashing in as business booms, according to a new report.
Stores who have introduced round-the-clocking opening hours are increasing business, report shows
For independent stores should review their opening hours and consider whether they are still suitable for today's modern consumer, an award-winning store owner has urged fellow retailers.
And he says that in the majority of his shops, the hour between 11pm and midnight is the busiest of the whole day.
Spar retailer Paul Stone, who owns seven stores in the Manchester area - five of them in the city centre - said: "If you have a store that's in an urban area, on a busy main road, or where you have a high proportion of young adults, think about the hours you're trading."
One store takes an extra £5,000 an hour in the early hours, while customer spend also increases
All his city-centre stores open 24 hours, 365 days a year, while his neighbourhood stores are open from 6am to 11am.
Mr Stone said: "My retail philosophy is to trade every hour of the day, trade every inch of the store and trade every event in the calendar. I have very much built a business on the idea that we never close."
Mr Stone urged retailers to make the most of events, such as Gay pride to open stores for longer
At his store on Manchester's Oxford Road, nearly one-third of sales (32 per cent) take place between 11pm and 6am, against 14 per cent in the period from 6am to 11am, 28 per cent between noon and 6pm, and 26 per cent between 6pm and 11pm.
Mr Stone added: "In the majority of stores, 11pm to midnight is the best hour of the day - when all the multiples around have given up."
One store takes an extra £5,000 an hour in the early hours, while customer spend also increases, to £6.12.
Mr Stone also urged retailers to make the most of events, such as the Olympics and the recent Gay Pride event in Manchester, both of which he themed the store around.
"There's huge amounts of incremental business you can get from events," he said. "I'm a great believer in changing the shop floor as often as we can, so customers don't get bored."