Feast Streat’s unique management model sits between a concessionaire and a management agent, meaning that as well as managing the entire food hall’s operations, the entertainment program, and the independent traders, we can also operate some of the bar, coffee and food concessions in-house, generating larger incomes for our food hall clients and making it much more likely our venues generate sizeable profits.
Over the last decade, the UK’s High Streets have faced a tidal wave of challenges. In recent years, the focus has been on the negative impacts of Brexit and the cost of living crisis, but the biggest challenge of all has been the paradigm shift forced by the rise of internet shopping. The monumental change in consumer behaviour over the last 15-20 years alongside the relentless growth of online shopping giants such as Amazon. This has had a hugely detrimental impact on local independent business that rely on regular footfall and passing trade that the bigger retail stores and high street brands pull into their local area.
It is now imperative for traditional retail spaces to offer experiences that cannot be replicated on e-commerce platforms. Food halls provide a multisensory experience, allowing customers to see, smell, and taste unique culinary creations. By combining food and shopping, these spaces create a captivating environment that entices consumers away from their screens.
Inspired by the vibrant marketplaces of the past, offering a diverse range of food and beverage options under one roof, showcasing local independent vendors alongside well-known brands. The concept has captivated consumers seeking unique dining experiences and a sense of community.
Food halls serve as social hubs, fostering a sense of community and providing a gathering place for people of all backgrounds. By hosting events such as cooking classes, live performances and cultural celebrations, these spaces create opportunities for local residents and businesses to interact, strengthening community bonds and generating a positive buzz around the high street.
The inclusion of independent vendors in food halls is crucial for bolstering local businesses. These small-scale entrepreneurs gain exposure to a larger customer base and benefit from the shared marketing and operational resources provided by the food hall management. Such collaborations enable them to navigate the challenges of high rents and competition from online retailers, breathing new life into their businesses.
The cost of living crisis and the uncertainties surrounding Brexit have impacted consumer spending habits. Food halls, with their diverse and affordable dining options, offer a respite for customers seeking quality meals at reasonable prices. By providing an accessible alternative to expensive restaurants, food halls cater to a broad customer base and help mitigate the effects of economic challenges.
Food halls have emerged as an innovative and enticing solution for rejuvenating the UK’s struggling high streets and shopping centers. By creating vibrant spaces that blend culinary experiences, community engagement, and experiential shopping, food halls offer a fresh approach to retail. They provide a platform for local businesses to thrive, foster community connections, and entice consumers back to physical retail spaces. In the face of economic challenges and fierce online competition, food halls serve as a beacon of hope, injecting vitality into the heart of our communities and redefining the shopping experience for the better.