NEW WEST END COMPANY BETTER TOGETHER, FOR GOOD. 2021-2026 2021 - New West ...
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NEW WEST END
COMPANY
BETTER TOGETHER, FOR GOOD. 2021-2026
2021
For two decades, we have put our 600 members at the forefront of everything we do. We were set up by businesses in the West End to achieve what could not be accomplished by one business or one organisation alone. Our shared vision is to make the West End’s International Centre the most diverse, sustainable and inspiring place to visit and do business. Our mission is to create value for all our members, supporting sustainable growth. Our immediate priority is to rebuild West End customer demand; local and global, and support the recapitalisation of businesses. Our shared district goal is to return the West End to £10 billion annual turnover by 2026. The first two years of our strategy is focused on driving back demand.
WEST END’S
INTERNATIONAL
CENTRE
Bond Street & Mayfair District
Oxford Street District
Regent Street District
Extended Area 2021 - 2026
OUR SHARED
DISTRICT GOALS Better
2021-2026
together,
£10bn Annual for good
Turnover
Zero Emission
Transport Zone
Customer Experience
Most Scale Up Campaigning
Consumer Brand
Insights & Innovation
District in the World
LONDON’S WEST END
FUTURE TURNOVER
FORECASTS
International Demand
2022 Onwards
Elizabeth Line Open
2022 & 2023
West End Transformation
£250m Public Realm &
£4bn Development 3-5 Years
Source: Harper Dennis Hobbs, 2021
OUR THREE
CORE PILLARS
01
Improved environment and
Customer services, enhancing business
performance;
Our customers will benefit from
Experience excellence and convenience with every
visit, with streets that are clean, safe
and healthy with seamless digital and
physical interactions and services.
STREET MANAGEMENT New West End Company provides the following services to ensure the West End remains clean & safe Street Cleaning Additional cleaning services to ensure high standards of cleanliness (our team responds within 30 minutes to every request) Security 13 dedicated security officers across our district, a night- time dog patrol and security zones provide a safer and more secure district
A SUSTAINABLE DISTRICT New West End Company plays a key role in convening & campaigning through our partnerships to implement activities that have the greatest contribution to our overall district goal towards a zero carbon world Working with Bioregional to undertake a full sustainability audit of our District which will shape our framework to create a more ethical and sustainable West End. Working with partners at Westminster City Council, Transport for London & Mayor’s Office to achieve our goal to deliver the first zero emissions transport zone by 2025 Advocating best practise in consolidating freight and waste collections across West End businesses Promoting sustainable travel in the district with increased bike parking, cycle lanes and pedestrian priority streets.
ATTRACTING & RETAINING CUSTOMERS New West End Company works with members & partners to rebuild customer demand through partnership marketing & media campaigns, seasonal animation to drive footfall, a loyalty programme and digital channels for Bond Street & Oxford Street. KEY CUSTOMER TARGETS Londoners Day Trippers Overnight Stay International (2022 Onwards)
MARKETING SERVICES 1. LONDON PARTNERSHIPS Working with our local West End, London & UK marketing partners to maximise West End share of voice and reach. 2. DISTRICT ANIMATION Create profile raising and impactful campaigns that drive customers to our district and to keep them spending longer and returning more often. 3. ALWAYS ON DESTINATION CHANNELS Through our members and partners, generate informative and inspiring digital content to entice our customers to visit, assist them plan their journey and enhance their experience. 4. CUSTOMER SERVICES Deliver a range of services with our members and partners, that will provide greater convenience and accessibility to boost dwell time and spend.
ANIMATION & DIGITAL CALENDAR Providing enhanced marketing through celebratory moments, local workers loyalty programmes, services and promotions to attract local and global customers and increase spend. * Regent Street Marketing Activations are delivered by our partners at The Crown Estate
OUR THREE
CORE PILLARS
02
An influential business voice,
with results;
Campaigning We will lead campaigns and initiatives
that support economic, environmental
and social progress leveraging our
International Centre status.CAMPAIGNING Tax-free shopping Business Rates Elizabeth Line West End’s International Centre Global Travel
OUR THREE
CORE PILLARS
03
Providing tools to gain a
Insights
nsights & competitive edge;
We will deliver cutting edge data and
insights around social, environmental
Innovation
nnovatio and economic impact for our members
that allow them to make better informed,
and more responsive, business.REASONS FOR INSIGHTS Ranked as the most valued service by members in the annual member survey Deliver unrivalled insights into West End visitor spend, behaviour and motivation Become a widely used and trusted source of insights renowned for robust, comprehensive and high quality data
INSIGHTS OUTPUTS
Twice weekly footfall reports including TfL travel data once per week
West End Insights Programme run in conjunction with PwC
Monthly reports issued using spend, travel and footfall data. Granular reports
available for those occupier members that choose to participate in the
programme and share a level of data
Bi-annual advanced analytics reports
Quarterly customer survey reports (planned for Mar, June, Sept, Dec)
A nationally representative online sample of 1000 respondents answering a
series of questions on perceptions and satisfaction. Currently run online
Other data available
Commissioned reports (e.g. Crossrail, Oxford Street District Transformation)
Partner reports
Crime statistics
Example of NWEC Weekly footfall reportFINANCIAL Total Income
Allocation %
Total
Occupier
Total
Property
Total
£k £k £k
M A N AG E M E N T
Total Income 3,660 3,660 7,320
Surplus Brought Forward (Forecast) 865 2,384 3,249
YOUR BID LEVY Customer Experience
I N V E S TM E N T Safe, Clean & Healthy (44%) 2,373 875 3,248
2021-2022 Physical & Digital (27%) 657 1,321 1,978
Insights & Innovation
Data Driven Performance (16%) 406 790 1,196
Sustainable District (1%) 0 50 50
Campaigning
Advocacy (20%) 129 1,340 1,469
Company Management
Management Staff & Overheads (10%) 368 368 737
BID Levy Collection (1%) 25 12 37
Bad Debts (22%) 800 800 1,600
NB: Total Income Allocation % against the spend for the year is greater than 100% due to extra investment using brought forward surplus.
Public realm and infrastructure includes Christmas lights for Bond Street & Oxford Street - £3.5m across 5 years (8.5%)OUR
Lord Bruce Dundas
MANAGEMENT Buccellati
Chair of Bond Street & Mayfair
GROUPS
Ian Grout
80
Hackett
Chair of Regent Street
Gareth Eighteen
Schuh
Chair of Oxford Street
businesses representing
retail, restaurants, hotels
& property owners Paul Jackson
Claridge’s
Chair of Hotel ManagementOUR OCCUPIER & P R O P E R TY S TEERING G R O U P S
OUR LUXURY STEERING GROUP
OUR BOARD
Sir Peter Rogers | Chairman James Raynor | Chief Executive
New West End Company Grosvenor Britain & Ireland
James Cooksey | Chair Property Group David Silverman | Director
NWEC Director Central London, The Crown Derwent London PLC
Estate
Paul Jackson | Chair Hotel Group Toby Courtald | Chief
NWEC General Manager, Claridge’s Executive Great Portland
Estates PLC
Meave Wall | Store’s Sacha Berendji | Chair Oxford Street Group
Director Selfridges & Co NWEC Director of Retail Marks and Spencer PLC
Katherine Russell | Head of Real Manuel Criado-Romero | Chair Finance &
Estate John Lewis & Partners Governance Group NWEC
Managing Director Pontegadea UK
Jayesh Patel | Portfolio Manager UK
Norges Bank Investment Management Barratt West | Chair Occupier Group NWEC
Vice President & Managing Director UK &
Ireland, Tiffany & Co.
Hugh Milward | Chair Public Affairs Group NWEC
Director of Corporate, External & Legal Affairs,
MicrosoftOUR PARTNERS
Corporate & Associate Members Community Public Sector & Promotion Neighbourhood
ForumsWWW.NEWWESTEND.COM
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