New convention to boost retail industry

By: Together Abroad 23-03-2015 3:26 PM
Categories: Business news,
Retail is the most important economic sector in the Netherlands. By reaching an agreement in the Retail agenda, signatories aim to future-proof this entire sector.

The Retail agenda is a reached agreement between market parties and the government by the initiative of Henk Kamp from the Ministry of Economic Affairs (Ministerie van Economische Zaken, EZ). This was released on 17 March 2015 on rijksoverheid.nl.

Involved parties aim to accomplish less vacancy by rendering store rents in line with the market, facilitating more room for shops to offer catering services, as well as offering additional training courses for staff. Minister Kamp says: “Retailers are given the opportunity to respond to changing conditions of the market and benefit from the improving economy.”

Overall, the Retail agenda allows shopping areas to be more densely arranged and thus become more attractive. Currently, 7,5% of stores are vacant and there is a 30%
overcapacity retail floor-space available. Thus, 50 local authorities aim to give entrepreneurs the opportunity to reduce vacancy rates in the agreement titled Retail Deals.

Furthermore, the government tested 12 local authorities in order to reduce regulations. As a result, entrepreneurs incorporate catering services in their stores, which contributes to a vibrant city centre. Training courses or retail staff are intended to adjust to changing patterns of consumer behaviour.

Retailers, local authorities as well as the Ministry of Economic Affairs will cooperate three years to monitor the progress of the Retail agenda. A Retail Team with particular expertise will assist the organizations with implementing the convention.
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