High streets need to maximise the grey pound

The Mayor of London is on record as saying, “we need to be bold and innovative” to ensure the survival of London’s high streets which he calls “the heartbeat of our economy” and which need to be inclusive.

Key is how to make high streets benefit all ages, but particularly older people, ensuring they play a full part in their economic contribution to revitalising the high street. Yet the stark evidence is that nearly a quarter of older people aged 70+ say they feel ‘shut out’ from the high street.

Positive Ageing in London (PAiL) new report ‘Unleashing the grey pound – older consumers’ contribution to High Street revival’ argues the need for a new bold agenda for policy makers on maximising the over a million older Londoners’ spending in their high streets and to ensure high streets are for all generations.

But it appears that London policy makers may be neglecting the power of older people’s spending (“the grey pound”) in their thinking and plans about regenerating their high streets. Many high street recovery plans instead emphasise the needs of the young and have not assessed the age implications of proposals so changes in place may adversely affect older people.

But this may turn out to be flawed thinking. A Retail Week survey this year shows how older people steadfastly support their high street – for many it provides the convenience of local shopping plus support for local businesses and for the good of the community. So older consumers can be big spenders on their high streets. Studies of where retirement housing projects are located in urban centres show they generate a significant economic benefit to local shops on the high street.

Yet there is an obstacle. Many older people want to go and spend on their high street but find it difficult or uninviting. The biggest challenge are the accessibility issues – this is all about uneven pavements, street clutter, e. scooters on the pavement, not enough places to sit, lack of toilets and so on which become barriers to older people using their high street and so inhibit spending. Research shows that people with a walking difficulty spend on average 14.5% less.

Making high streets accessible and inviting to older people isn’t exactly rocket science. There is a vast literature now on what makes for an age friendly high street, and there are numerous good case studies around. It’s down to local officials and elected representatives thinking seriously about these issues, having meaningful engagement with older people and above all a firm commitment that goes beyond the usual rhetoric about inclusion. This requires a new policy agenda.

Our report argues that local communities led by London Boroughs should have published plans to make their urban centres and high streets attractive and accessible to older people.

London Boroughs should set up partnerships with older people organisations to review their high streets from an age-friendly perspective. Older people organisations in Boroughs should carry out street and community audits – assessing not just physical impediments but also what facilities, amenities and resources are available locally for older people.

London Boroughs and local businesses should work to ensure that their premises and physical infrastructure do not create barriers to older customers shopping and playing a full part in the community.

And finally, but not least, the GLA and London Recovery Board should develop and publish an age-friendly statement for high streets and review all funded schemes on how age-friendly they are with clear evaluation criteria. They should specifically fund a pilot age-friendly high street to help promote best practice.

And the Mayor needs to include in that vision of the high street a much firmer commitment to older people in inclusive high streets. Fast forward twenty-five years and an older Sadiq Khan may well indeed welcome Tooting High Street being age friendly.