There is no feeling quite like visiting your local market, and even more so when it is getting closer to the festive season. From new competitors bringing their products to the Christmas market to regulars decorating the town centre – whether that be a slushie cocktail vendor specialising in Merry Margaritas or a Santa’s Grotto arriving in town – many businesses have prepared for some fruitful festive fun.
But Christmas markets aren’t just decorations and food stalls made to help everyone get into the festive spirit. In fact, they play a much bigger role within the local communities they are hosted in. With more than 60 Christmas markets taking place across the UK this winter, we will explore the local impact that Christmas markets have on their communities.
Improves the economy
Christmas markets are a great time to boost the economy of specific cities. The University of Lincoln estimates that their city’s Christmas market makes £12million from visitor spending – with £2.65million going into the economic value of the city itself. Markets like these can drive incredible revenues from the sale of food, drink, and Christmas activities and products. In fact, in 2017 Christmas markets contributed £500 million towards the UK economy, providing big business even for local vendors who might otherwise not see this increase in revenue.
Part of this economic drive comes from the number of tourists that Christmas markets draw. Not only does this help promote the locations which hold Christmas markets during the festive time, but it means visitors might come back to the city throughout the year after their first visit – boosting the attraction of different locations within the UK. Increase in footfall could mean that more local businesses can increase their revenue, tailoring to new tourists.
Local Christmas markets are also great for promoting small businesses within the community. One way would be for local businesses to have designated stalls within the Christmas markets in which to sell their stock. Another way to promote businesses, especially small ones which might not have the funds to pay for the stall fee, is to point consumers in the direction of local shopfronts, websites, and attractions. Just as a Christmas market can benefit the community, the community can benefit the Christmas market but individualising it from other markets around the UK and Europe. By focusing on the location’s features and talent, both community and Christmas market holders can come together to drive traffic and a wonderful experience for their customers.
In fact, Prime Minister Rishi Sunak showed off the power of Christmas markets by setting up a festive market in Downing Street this year to highlight the best in British business.
Christmas markets can also create jobs for the local community. Whether this is for management and market control or actors, a Christmas market is full of different positions of varying levels. In fact, the job market for Father Christmas roles alone have risen 183% in the last year. So Christmas markets aren’t just beneficial for established business owners, but for others looking to get some more money during the festive period.
Whether it is promoting local businesses, attractions, or inviting new visitors to explore the wonders of your hometown, Christmas markets are a brilliant tool for building intrigue. From food and drink stalls to Santa’s Grotto, there are many benefits to these collections of stalls. For many, it is an opportunity to rebrand their products, find a new customer base, or even just drive awareness. For others, it is a chance to get into the Christmas spirit with their community.