UNDERSTANDING LONDON’S MARKETS Maria Diaz Maria.diaz@london.gov.uk

£20m & 55 markets IN THE LAST FIVE YEARS Retail and wholesale markets play a vital role in London. They are places of employment, trade and leisure and bring footfall to high streets and town centres. But they play much more than an economic role, they are also crucial for their variety and diversity, history and character. They are an essential part of Londoners’ everyday experience of the city, as well as London’s international identity. For this reason the last five years, the GLA has been providing funding to markets. Through a range of funding opportunities we have invested over £20 million on 55 markets. This demonstrates that we are well aware of the importance of markets. The next logical step was to commission a research on the economic and social value of markets and establish a board.  

UNDERSTANDING LONDON’S MARKETS

UNDERSTANDING LONDON’S MARKETS: AIMS ‘The primary audience for this study will be political decision makers and policy makers at Local Authority and GLA level. The report will also communicate the value of markets to wider audiences with an emphasis on powerful and impactful stories, statements, facts and figures. We believe the output will also be welcomed by investors and developers interested in the potential of retail markets, but currently frustrated by a lack of performance metrics ... ‘ We commissioned ROI to undertake a research of London markets. The aim is to influence a range of people at different levels. Politicians, officers in local authorities, market managers. The purpose is to raise the profile of markets and ensure there is an understanding of the wider role that markets play in communities, as a start up places, testing place for new ideas. UNDERSTANDING LONDON’S MARKETS: AIMS

UNDERSTANDING LONDON’S MARKETS: TASKS & OUTPUTS AUDIT OF ALL LONDON’S MARKETS PROVIDING SEARCHABLE INFORMATION INTERVIEWS WITH MARKET PROFESSIONALS AND POTENTIAL STAKEHOLDERS METHOD FOR EVALUATION OF THE VALUE OF MARKETS – ECONOMIC AND NON-ECONOMIC EVALUATION OF PER DAY REVENUE BY STALL TYPE CASE STUDIES OF LONDON MARKETS UNDERGOING CHANGE MAPPING AND VISUALISATION OF MARKETS’ IMPACT ACROSS LONDON WRITTEN REPORT WITH RECOMMENDATIONS Through the research we will: audit all of London markets and create a map that will be for general public access. The map will include a link to each market including basic information. The research is also interviewing market professionals, traders, users. And it is looking at the economic and social value. We have also done some case studies which will be published with the research. Most important, it will come up with a range of recommendations to be implemented by the Board UNDERSTANDING LONDON’S MARKETS: TASKS & OUTPUTS

PROMOTE MARKETS IN ALL THEIR FORMS AND TO LOBBY ON BEHALF OF THE INDUSTRY TO RAISE PROFILE DELIVER IMPROVEMENTS IN LONDON’S MARKET SECTOR BY BUILDING AN EVIDENCE BASE AND DEVELOPING ACTIVITIES AND POLICIES THAT SUPPORT LONDON’S WHOLESALE, STREET AND COVERED MARKETS PROVIDE STRATEGIC OVERSIGHT OF LONDON’S MARKETS SECTOR, INFORMING THE LONDON MARKETS STRATEGY IMPLEMENT RECOMMENDATIONS OF THE REPORT AND IDENTIFY AND LOBBY FOR FUNDING FOR MARKETS DEVELOP A RANGE OF INTIATIVES AND PROJECTS THAT CAN SUPPORT MARKETS, TRADERS AND USERS (E.G. START UPS, MARKET OF MARKETS FESTIVAL, ETC) Having listened to individuals and organisations from across London’s markets sector over the past months, we recognise the need for strategic oversight and management of issues affecting markets at a city level. That is why the Mayor is taking the step of establishing a London Markets Board – to our knowledge, the first such body to exist in the city’s history. London needs a strategic forum to bring together a diffuse markets sector. A single point of governance and reporting to coordinate and focus action on markets across the GLA group and london boroughs could be an effective way of doing that. Possible actions the board could take on include: Market of Markets festival, lobby for further funding opportunities Develop networking opportunities/ sharing of lessons Develop a good practice guide for market design Sharing tools and ideas   LONDON MARKETS BOARD

RECRUITMENT TO THE LONDON MARKETS BOARD The Board will consist of between 12 and 14 members Will be chaired by jules pipe, deputy mayor for regeneration Will recruit from a range of experts with a range of skills Board members will reflect different sectors of the market’s community, including organisations responsible for managing and running markets in London and those representing operators and tenant/trader associations It is envisaged the following areas of expertise will be covered by the Board members: Local Authority management Private operation management Community run/social enterprise Business support and training Traders representatives Www.london.gov.uk (jobs section) As I speak we are in the process of briefing our new deputy Mayor – Jules Pipe on establishing a new London’s Markets board On a strategic level and in recognition of the important social and economic role they play in London the Greater London Authority (GLA) has committed to do more for London’s street and covered markets and to work with the sector to “understand obstructions and bring forward proposals for legislative change” (Action for High Streets, July 2014).   In February 2015 the GLA published a paper called Market Growth - Support for London’s Street and Covered Markets that, amongst other proposals, proposed convening and partnering a markets board for London, recognising a call by the markets sector in London for greater strategic coordination. London needs a strategic forum to bring together a diffuse markets sector. A single point of governance and reporting to coordinate and focus action on markets across the GLA group and london boroughs could be an effective way of doing that. Possible actions the board could take on include: Market of Markets festival, lobby for further funding opportunities Develop networking opportunities/ sharing of lessons Develop a good practice guide for market design As I say this is still in discussion and is draft but at an officer level we are very excited and confident about the proposition of a board. RECRUITMENT TO THE LONDON MARKETS BOARD

TIMETABLE DEADLINE TO SUBMIT APPLICATIONS FOR THE BOARD: 2ND MAY INTERIVEWS: MID TO END MAY COMPLETION OF RESEARCH : JUNE LAUNCH OF RESEARCH AND ANNOUNCEMENT OF BOARD MEMBERS END JUNE FIRST MEETING OF THE BOARD: JULY As I speak we are in the process of briefing our new deputy Mayor – Jules Pipe on establishing a new London’s Markets board On a strategic level and in recognition of the important social and economic role they play in London the Greater London Authority (GLA) has committed to do more for London’s street and covered markets and to work with the sector to “understand obstructions and bring forward proposals for legislative change” (Action for High Streets, July 2014).   In February 2015 the GLA published a paper called Market Growth - Support for London’s Street and Covered Markets that, amongst other proposals, proposed convening and partnering a markets board for London, recognising a call by the markets sector in London for greater strategic coordination. London needs a strategic forum to bring together a diffuse markets sector. A single point of governance and reporting to coordinate and focus action on markets across the GLA group and london boroughs could be an effective way of doing that. Possible actions the board could take on include: Market of Markets festival, lobby for further funding opportunities Develop networking opportunities/ sharing of lessons Develop a good practice guide for market design As I say this is still in discussion and is draft but at an officer level we are very excited and confident about the proposition of a board. TIMETABLE

10th International markets conference THROUGH THE GLA, LONDON HAS SUBMITTED AN APPLICATION TO HOST THE 2018 INTERNATIONAL MARKETS CONFERENCE WE HAVE BEEN SHORT-LISTED TOGETHER WITH TWO OTHER CITIES PURPOSE OF THE CONFERENCE IN LONDON NETWORKING AND BUILDING ALLIANCES KNOWLEDGE TRANSFER RAISING PROFILE OF LONDON MARKETS LOCALLY, NATIONALLY AND INTERNATIONALLY CLOSELY WORKING WITH A RANGE OF PARTNERS LIKE NABMA, LAMBETH LOCAL AUTHORITY AND PORTOBELLO MARKET ON THE FINAL APPLICATION EXPECT TO HEAR OUTCOME BY JUNE IF SUCCESSFUL WE WILL WORK WITH LONDON PARTNERS ON NEXT STEPS Project for public spaces, a US-based organisation chooses every three years a world-city to host an international markets conference. Last time, in 2015 was hosted in Barcelona and in 2012 in Cleveland. PPS is currently selecting the next city to host the 2018 conference. London has submitted a proposal and has been short listed with two other US cities. The conference attracts around 400 participants from around the world and it is hosted over three days, usually a Friday and weekend. If London was successful, we will work with London-based partners to draft agenda, tours of markets, and get views and engagement. 10th International markets conference