Archive for the ‘retail’ Category

More good news: Starbucks closes down!

Sunday, November 18th, 2012

Walking down Great Ormond Street into Lamb’s Conduit Street in central London a few days ago I noticed that the Starbucks which used to be on the corner of these two roads had shut down. I haven’t yet been able to get any kind of ‘official’ confirmation as to why it closed down – and when I last checked about an hour ago Starbucks still listed it as open on their corporate website.  A celebratory tweet of 26 October from The Lamb Bookshop is the earliest evidence of the shut down I could find from a quick online search:

“Oh my gosh, Starbucks has closed on Lamb’s Conduit Street! We are now a completely indie high street!!!!”

The Jonestown London Blog (2 November) contains the following information about the short term future use of the empty property (but gives no reasons for the Starbucks closure):

“Organised with the help of Darkroom, property consultants Farebrother and Cube PR… the panel are calling out for retailers, curators and designers to send in proposals for a pop-up store, opening December 5th and closing on January 2nd, 2013.

The winner will get the space for FREE – at Lamb’s Conduit Street’s busiest time of year. FOR REALSIES.

No.70 is a huge corner site – the old Starbucks unit – weighing in at 895 square feet (with 684 square feet of storage). A white shell – it’ll be up to the winner to make it as loopy and inviting as they can. Plus, it’s opposite The Lamb, so it’ll be full of boozy Christmas shoppers – perfect selling conditions.”

The only Google review of the closed Starbucks on Lamb’s Conduit Street had this to say about it: “Overall: Poor to fair. Liked: Value. Disliked: Food, Service, Atmosphere.” Which pretty much sums up any Starbucks, although given the coffee is rubbish it is difficult to see how it could be good value. Bad food and bad coffee are over-priced even when they’re nominally ‘cheap’.

Following the tweet trail backwards I noticed that another central London Starbucks on Exmouth Market had closed recently too. Drew Benvie tweets on 18 October:

“Anyone know why Starbucks shut down its Exmouth Market cafe? I’ve never seen a Starbucks close down, and on such a prime street.”

Benvie received this reply from Neil Young (77):

“I happened to go in on the day they closed — they just said for ‘business reasons’. Too much good coffee in immediate vicinity?”

Gresham’s Law states that “bad money drives out good” – but when it comes to cafes it now seems that the reverse might also be true, and that good coffee can indeed drive out bad coffee even when corporate outlets attempt to saturate all of London with their unwanted branding. The Starbucks corporate website currently lists the Exmouth Market branch as closed, but they’re still either behind or not being honest about their Lamb’s Conduit Street operation having shut down: possibly because there were widely reported protests against it opening back in 2006.

In 2009 Starbucks reported a £47 million pound trading loss on its UK operations in the previous year and shut some London outlets saying that the closures would continue into 2010. It seems the shut downs are being rolled over all the way into 2012 and beyond. Let’s hope this trend contiunes until there are no branches of Starbucks to be found anywhere in London!

And while you’re at it don’t forget to check – www.stewarthomesociety.org – you know it makes (no) sense!

When Will The Art Bubble Burst?

Saturday, August 25th, 2012

An economic bubble is trade in high volumes at prices that are considerably above the intrinsic value of the product or service in question. In other words an economic bubble is the exchange of products or assets at inflated prices. Some of the more notorious economic bubbles in recent years have been in assorted property markets – with crashes in the value of property occurring from 2005 onwards in various markets around the world. The US property bubble in particular – and the sub-prime mortgages tied to it – sparked the current financial crisis and could also be said to have burst the banking and financial industries bubble.

Fearing that stocks and bonds are too volatile some investors have diversified into collectibles that range from old master paintings to expensive wines by way of rare coins and stamps. In a capitalist economy there is no safe investment – speculative investment works on the basis that what goes up must come down. Blue-chip art is currently over-valued and will deflate at some point – the question is simply when…

And while you’re at it don’t forget to check – www.stewarthomesociety.org – you know it makes (no) sense!

10 Places Not To Eat In London During The 2012 Olympics

Friday, July 20th, 2012

Much of what I say below is well known and would apply at all times and not just during the 2012 Olympics – junk food always tastes nasty. Nonetheless it seems worth reiterating a few basic facts about McDonald’s as a scummy corporation and Olympic sponsor (seasoned with some comments about other really crap fast food and coffee chains).

1. Any branch of McDonald’s – as official Olympic sponsors McDonald’s have prevented other food outlets selling chips in the Olympic area; and this despite the fact they only sell french fries made from reconstituted potato and not chips (which are sliced and fried potatoes). This chip ban is yet another McDonald’s’ public relations disaster and it has received plenty of coverage in the UK media. Back in the 1990s there was The McLibel Trial, when this giant corporation took two London based activists to court for documenting its poor environmental, health and labor records, only to discover such a heavy handed approach to legitimate criticism backfired. The book Fast Food Nation (2001) by Eric Schlosser addresses how McDonald’s uses its political influence to increase its profits at the expense of people’s health and the social conditions of its workers. Schlosser  also criticises McDonald’s for targeting its advertising at children. In 2002 McDonald’s were successfully sued for misrepresenting its French fries as vegetarian, when they contained beef broth. People for the Ethical Treatment of Animals (PETA)  continues to pressure McDonald’s to change its animal welfare standards.

2. Any branch of YO! Sushi – The food goes around the restaurant on a convey belt and you take off what you want. Despite labels supposedly telling you when the food should be consumed by (I don’t remember ever seeing one – but then it is years since I first and last ate in a branch of this chain and on that sole occasion I was a victim of  ‘corporate hospitality’) you might as well be eating at a buffet. The chances are the food is not going to be that fresh, but then the experience might appeal to connoisseurs of that variant on Russian roulette that I call botulism roulette.

3. Anywhere in Stratford. Back in the 1980s the old Stratford shopping centre had the last branch of The Golden Egg I can recall seeing anywhere in England. That cafe was a relic from my childhood.  Set up by Philip and Reggie Kaye in the early 1960s, the Golden Egg chain brought a jazzy mood to eating in British low-price popular restaurants through riotous colour schemes and brilliant opaline lights. Right through the 1980s and into the 1990s Stratford had a gritty if run down urban vibe. The Olympic development seems to be a final attempt to get rid of that and since it and the new Westfield shopping centre will be packed out with tourists during the Olympics, it is a place to be avoided at all costs this summer. For a taste of old Stratford check out Bronco Bullfrog (1970, directed by Barney Platts-Mills) – it isn’t the greatest movie in the world but has a nice title track by The Audience and shows Stratford at its peak.

4. Starbucks – mediocre coffee and mediocre sandwiches and snacks to go with it. The mediocre coffee of other big chains like Costa Coffee is also to be avoided… The best coffee in London is sold by smaller operations.

5. Pret A Manger – another soulless chain selling mediocre coffee and disgusting filled baguettes, soups, salads, croissants, muffins and cakes. ” Bad news for Londoners – 75% of this chain’s outlets are in the British capitol.

6. Pizza Hut – crummy pizzas, crap interior design.  You know you don’t want it!

7. Bella Italia – bad pasta and worse pizza. Part of the Tragus Group, who also own Cafe Rough and Strada – which should also be avoided. Rather than corporate chains like Bella Italia you’ll get much better food in family run Italian cafes and restaurants – the numbers of these small business in London seem to have declined but there are still many around.

8. Nando’s – a chain specialising in chicken dishes, this ‘restaurant’ is strictly for the birds. Same goes for KFC!

9. Burger King – McDonald’s by any other name stinks just as bad… McDonald’s and Coca-Cola might be the two big 2012 Olympic sponsors but it could just as well be Burger King and Pepsi for all the difference it makes. Both McDonald’s and Burger King sell junk food you really don’t want to eat coz it tastes like shit.

10. Anywhere in or around Russell Square – This area of central London seems to be housing a lot of the international media during the Olympics and has been transformed (along with Southampton Row that runs off it) into a major traffic bottleneck. More than a week before the Olympics began Russell Square seemed to have been largely emptied of traffic and filled with dozens of security personal in high-visibility jackets ordering around anyone who had the temerity to enter the area. Aside from Stratford itself, this part of Bloomsbury appears to the the worst place you could go in London during the Olympics!

And while you’re at it don’t forget to check – www.stewarthomesociety.org – you know it makes (no) sense!

Retail Sector Continues To Wash Dirty Lingerie In Public

Friday, June 15th, 2012

The UK’s double dip recession has led to some wacky transformations in the retail sector. Among the less welcome of these are the continuing transformation of central London into a shopping theme park. Having ruined parts of east London with Olympics developments, the planners now want to turn those parts of The City between Holborn and Cheapside into a so-called  ‘shopper’s paradise’ too – so the suburban middle-class can have days out in town where they enjoy retail therapy a-go-go all the way from Oxford Street to Spitalfields.

Right now there is also a race on to open new (as well as revamp old) London stores before the start of the Olympics. One of the new to the UK market retailers is America lingerie giant Victoria’s Secret – their Bond Street store opens on 25 July. Given the ongoing obesity crisis maybe Bravissimo is where the retail trade should expect a real expansion in this sector of the market. Bravissimo sell lingerie, swimwear, clothing and nightwear for D to L cup women. There may or may not be a retail bonanza in London from tourists during the Olympics – but does anyone really expect this madness to continue afterwards?

Casting aside underwear and moving on to groceries, it is being suggested that the average UK consumer is now so broke that multi-buy offers (discounting for multiple purchases) may soon be a thing of the past. These days people are increasingly going out with a list of what they need for the week and will buy nothing else. No matter how good the offer, the impoverished majority are increasingly just not interested in buying anything more than their immediate needs. Hence the return of the once mighty budget supermarket Kwiksave – which closed down in 2007. Now a franchise operation owned by Costcutter, the first of the new Kwiksave convenience stores opened at 21 Market Street, Little Lever, Bolton, about a month ago. There are plans for a second revamped Kwiksave to open somewhere in Scotland soon.

Moving on again, I’m amazed that the likes of Watersones, HMV and JJB Sports have hung on in there on as UK chain stores. Waterstones is currently revamping it’s bookshops and doing what was previously thought unthinkable – selling Amazon Kindle readers. HMV has also turned more to flogging hardware – having seen music and DVD sales collapse. The JJB Sports plan is to have more exclusive product – it’s been making a huge loss and really ought to do the decent thing and close! It really can’t compete with the unashamedly cheap and nasty Sports Direct! But remember kids, ultimately it isn’t just these shops that are gonna die – capitalism itself can’t survive forever!

And while you’re at it don’t forget to check – www.stewarthomesociety.org – you know it makes (no) sense!