Attention to Retail

Portas: 'Right Diagnosis; Wrong Prescription'.

2012-02-02T13:19:22Z

....At least that's the view that has been offered today by Phil Wrigley of LXB Retail and Majestic Wines, who has insisted that if the government were to adhere to the recommendations of Mary Portas' review, the High Street would be condemned to continue to plunge further into a 'Death Spiral', taking already ailing town centres with it.

Wrigley's own recommendation for our beloved urban centres to avoid this grim fate is to encourage increased conversion of high street premises to housing, which echoes some in-depth research conducted by think tank 'The Policy Exchange' in March last year.

Both Wrigley and the Policy Exchange have championed the idea of increasing flexibility within the current planning structure to allow properties to under go a quicker and easier transition, if required, from Class A to Class C. The common criticism of the current planning system is that councils' obsession with 'maintaining the town centre', or 'supporting economic regeneration', means that they occasionally force buildings to stay within a certain use class, often refusing a change of use until the premises have been vacant for a number of years.

The reason for this is that councils consider planning applications within the confines of local development frameworks (LDF) set out roughly every decade to outline how they hope the area to develop. Change-of-use applications which appear out-of-line with the LDF are seldom given approval, no matter what their viability, with councils more inclined to agree to a short term solution which fits in with their development plan.

I don't particularly share Wrigley's overriding negativity about the recommendations Portas outlined in December last year; but his view, substantiated by the think tank, represents almost the exact opposite way that Portas could have gone with her suggestions. It is a view that was perhaps too radical to suggest to the current government, who have already relaxed change-of-use laws pertaining to office buildings, with so far less-than-resounding success.

Is Portas, as Wrigley puts it, "propping up a failing sector", or is she attempting to exacerbate a latent desire within the British public to return to thriving town centres, thereby resisting the temptation to consign traditional high streets to the history books? What is certain is that the government's implementation of any of Portas' recommendations will be put under intense scrutiny, as the queue of people waiting to say 'I told you so' gets longer by the day.

Burlington Arcade restoration begins

2012-01-20T14:07:45Z

Regular readers of our retail blog will recall an earlier entry on the brewing row between owners and tenants of the Burlington Arcade on Piccadilly, W1, over plans to breath new life into the building.

Meyer Bergman, the European real estate firm that bought the Grade II-listed arcade in October 2010, has now revealed the first pictures of proposed new restoration works following the receipt of Planning and Listed Building Consent.

Work has now started and the first phase, which will focus on restoring the upper elements of the arcade, is expected to be complete by the end of April. It involves the installation of up-lighting and the re-painting of the painted elements in the original ecru white colour used in 1819 when the arcade first opened.

Work is being undertaken out of trading hours to allow shopkeepers to remain open for business throughout the process.

Markus Meijer, chief executive of Meyer Bergman, Burlington Arcade's co-owner, said: "We expect these works to be complete in time for the Queen's Diamond Jubilee celebrations and I am particularly excited that, once complete, we will have a view not seen for over 100 years and possibly not since Queen Victoria celebrated her Diamond Jubilee in 1897."

Olympics set to fuel retail sales uplift

2012-01-19T16:48:48Z

I'm not going to dwell on the bad news that has hit high streets across the country this week. The collapse of Peacocks, Past Times and Pumpkin Patch is well reported on EGi.

Instead, I'm going to turn to an upbeat report which forecasts that the Olympics is set to drive a 3.5% growth in retail sales in the West End in 2012.

The research, compiled by Springboard for the New West End Company, shows that retailers in the West End are optimistic that sales will peak at £7.7bn this year with further momentum gained during the Queen's Olympic Jubilee.

The report, A 2012 Retail Outlook, also found that 17.8% of total annual additional retail spend will occur in June and July, and that West End retailers expect to make an extra £16.6m in revenue as a direct consequence of the Olympics.

London mayor Boris Johnson has the following erudite comment to make on the findings:

"2012 promises to be a summer like no other, and businesses throughout the West End now have a unique opportunity to reap the benefits when the world comes to the capital. London undoubtedly has the best shopping district in the world and I have every confidence that retailers are doing all they can to plan, prepare and profit from the Games."

Retail Crime: The 2011 Picture.

2012-01-17T10:23:58Z

The British Retail Consortium this week published the results from its annual survey on retail crime, and it makes for very interesting reading.

Taking a sample of 52 retailers who account for 53% of the total UK retail turnover, BRC painted a picture of retailers experiencing fewer acts of criminality than in 2010, but the cost per incident rising dramatically to the overall tune of 31%. This figure doesn't even include the costs of the August riots - which, instead of causing 2011 to become a giant anomaly, are spotlighted at the end of the report, rather than being factored into it.

Increased cost per incident is one theme seen throughout the report, as it goes through the various felonies in detail. Theft was down 19% on 2010, but each theft cost retailers £85.50, an increase of 21% year-on-year; and there's a similar tale with burglaries, the number of which decreased by 42% to the lowest figure in seven years, yet the cost per incident increased by 83% to £2,093 for every offence. Additionally, employee theft is down 24%, but the value stolen each time has gone up 18%.

A clearer picture is given by the statistics for robbery, violence towards staff and criminal damage; all of which saw an increase of 20%, 83% and 63% respectively on 2010 figures. Little solace can be taken from the fact that the 83% increase in violence towards staff is mainly verbal, with the acts of actual physical violence the lowest in seven years. Abuse in the workplace is, as the BRC puts it, an 'unacceptable threat', and they encourage retailers to be more willing to report incidents across the board to help put a stop to this.

In addition, the BRC calls for further investment from retailers in crime prevention, an increased awareness of the damage caused by fraud and e-crime to retailers - seen as an 'easy opportunity' for criminals, and further co-operation between the BRC and police forces. The BRC state that a replication of the scenes of August 2011 are 'conceivable', given the deepening economic crisis, and that they can play an important role in communicating effectively with businesses during moments of unrest.

It was just such a moment in August which threw criminality against retailers into the public spotlight - and the figures outlined on the impact of said events are rather harrowing. The riots affected 20,000 employees - 1.5% of the UK's retail workforce; they cost the retailers in the survey £18.3 million in theft, criminal damage, burglary, arson and store closures. Additionally, an impact on sales was experienced by 56% of those surveyed.

One can't help but think that, were the figures from the UK riots included in the report, the figures that indicate 'below-7-year-average' figures for theft, burglary, robbery and criminal damage would not look quite so rosy. If the BRC are correct in their suggestion that a similar spate of lawlessness could hit the UK this year, retailers have to make sure that they are better safeguarded against experiencing a similar loss.

The full report is available here.

Online success shines through Christmas results

2012-01-12T17:57:18Z

This week has been quite a revealing week for the retail industry with some of the UK's biggest retailers producing their Christmas trading results.

There have been some clear successes. House of Fraser, John Lewis, Sainsbury's, New Look, SuperGroup, Debenhams, Majestic Wine, Foyles, Morrisons and JD Sports have all reported increased like-for-like sales figures.

But there was a more worrying picture being painted by the likes of Home Retail Group, Tesco, Mothercare, Halfords and Thorntons, which all flagged up falling sales. Some of these lacklustre results come despite widespread discounting in the run up to Christmas, which will have hit retailers' pockets.

A clear opportunity or warning sign (depending if your glass is half full or half empty) for both retailers and landlords to pick out of these results lies in the blossoming online sales figures. They helped some retailers push through a tough trading period.

John Lewis said: "Our very successful multichannel and online operations have been at the heart of John Lewis' performance. All three John Lewis markets were instrumental in driving sales in this area, with johnlewis.com outperforming its market and seeing 27.2% growth."

"As the 'Click and Collect' facility has proved to be so popular, from next month the number of collection outlets will more than double to 116, including collection points in 84 Waitrose branches, with more being planned."

Debenhams' like-for-like sales increased by 1.4% including VAT in the 18 weeks to 7 January 2012. However, its online business, which it says is a key component of its multi-channel offer, delivered like-for-like sales increase of 34.8%.

Ellen Flood, retail expert from Shopow says: "The internet is developing as a key element of the retail landscape. Online shopping offers shoppers an incredible amount of choice, convenience and savings."

"What we will see this year is the evolution of the high street with leading retailers changing their approach, and in many cases their product lines, to reflect the tastes of the modern shopper."

Big Brother Debate Sparks Unnecessary Fuss

2012-01-06T14:45:14Z

No, not the "celebrity" one.

There has been some furore recently emanating from human rights groups over the 'revelation' that shoppers' behavioural patterns are being tracked within retail schemes via their mobile phones.

It appears that, in a bid to better understand consumer behaviour, some of the major players in the market have advocated the tracking of mobile phones within their malls, indicating how shoppers operate. As the story has broken, it has inevitably sparked a 'Big Brother'-esque paranoia, despite the technology being categorically unable to store phone numbers, messages, internet history or any other personal information.

Upon reading what the technology does - I thought of it like this: You go into a mall, and Mr. Eye-in-the-sky stops seeing you as a human being with a past, two parents and a set of organs, and instead sees a neon cube with an identity code. Cube 30496745 then does X,Y,Z - leaves the mall, and then goes back to being a person.

The response to the use of tracking technology would suggest that there is a swat team on the roof of every mall in the country, waiting for the tracker to feed it something like: "Graham Shone just used a 'Next' voucher, then had a coffee - he's clearly a terrorist - move! move! move!". Perhaps its a personal thing, but I have no problem at all with anyone knowing where and in what order I do my shopping. In fact, good luck to them. My last trip to Westfield was so scattergun it would probably break the computer.

Using this technology is basically a more comprehensive and time-saving way of conducting surveys. The tracking is not designed to pigeon-hole individuals, but to create a better environment and experience for the collective. In addition, the technology is not only used in retail - as this eye-opening news item testifies. Why not embrace everything you can to help improve life for you and your customers?

A simplistic view, perhaps, but if you're that worried about your phone being tracked while you shop, then leave it at home - or switch it off. Yes, there are limits as to what should be monitored, but in my opinion this doesn't get near them. And think about this - if you're paying by card for your shopping, then surely your bank has even more sensitive information than Land Securities or Westfield will ever get hold of.

A New Year in Retail: 2012 Expectations.

2012-01-05T10:47:42Z

I think it's fair to say that 2011 was a turbulent year for the retail market, so it's hardly surprising that the New Year's Day hangovers had barely been allowed to pass before industry experts broke out the crystal ball and tarot cards to prognosticate what the new year would deliver.

There were mixed messages coming out immediately after January 1st, as reports of a festive boost in footfall for many high profile schemes were then counterbalanced with disappointing figures for footfall on New Year's Day. This can be explained, of course, by the fact that Boxing Day 2010 and January 1st 2012 were both Sundays; yet it's a neat microcosm of an industry that seems to breed a gloomy, mood-ruining story for every uplifting one.

The success stories over Christmas 2011 are fronted by the fact that both John Lewis and JJB Sports enjoyed moderately successful festive periods. We've also heard about a record year for Domino's Pizza, and that JoJo Maman Bebe are joining Next on the expansion trail.

However, the rose-tinted spectacles go straight in the bin when you read that the government's austerity measures are 'threatening secondary shopping centres and poor regional high streets' (Henderson); or that 'retail in particular is due to suffer' (Deloitte). Ongoing problems for Barratts, Blacks, HMV and Thorntons are now shared by Hawkin's Bazaar and La Senza, and with opinion divided on how effective the implementation of the Portas Review will be, the retail market may need to steel itself for a chaotic and potentially disastrous twelve months.

One of the main reasons for this is the fact that the heavyweight issues behind the slump in the market do not look like being resolved any time soon. Consumer confidence remains low, and the propensity to spend will reduce even further as real wages continue to be concertinaed by cost of living increases. This coupled with the dent to market confidence caused by such high profile stores in danger of extinction indicates that 2012 may be a real struggle for the industry.

With the March rent day now a giant cloud on many retailers' horizons, it's difficult to predict which will display the fortitude to carry on, and which will go the way of so many once-treasured brands. Sadly, by next Christmas, we might well have lost some of the brands at the foot of this Company Watch league table to the now more-brutal-than-ever retail market.

Keighley Retail Loop to be Completed by Stainsby Grange.

2011-12-09T14:12:51Z

My attention was drawn earlier this week to an application by Stainsby Grange to construct a

new retail scheme in Keighley. The development will be called 'Worth Valley Shopping Centre', and already has its own website, detailing which brands the company are hoping to entice to the scheme. The developers have indicated that this development is designed to complete Keighley's 'natural retail loop', illoustrated on the right.

This loop already contains two major retail schemes: The Cavendish Retail Park and The Airedale Centre, both mentioned in the retail statement accompanying the application as being infeasible sites for redevelopment as they contain a tenant mix committed to medium and long-term leases. A new mall, therefore, was seen as the key to moving Keighley's retail status forward, and rubber-stamping the town as the primary retail destination in the Airedale corridor, and after a six-year land acquisition process, Stainsby Grange have now gone

Tying in nicely with my previous blog, the developers have, admirably, taken pains to explicitly write in the Design and Access statement that social media has been embraced, with the creation of www.facebook.com/worthvalleyshoppingcentre. The site currently has 22 'likes' and 1 'talking about' - which isn't actually too bad for a shopping centre by comparison, but maybe a bit more promotion in the right areas is needed for the site to take off.

If, as indicated, construction is due to begin in early 2013 it would be a welcome fillip for the retail development pipeline, which is looking rather shaky after the nearby Trinity Leeds completes. Additionally, £300 million worth of local investment combined with the creation of 500 jobs is nothing to sneeze at - particularly in an area that has been measurably blighted by the economic downturn.

The real test, of course, comes after opening; when we will be able to gauge if indeed Worth Valley has contributed to or detracted from the retail market in Keighley. Careful measures need to be taken to ensure that there is no temptation to draw trade away from Airedale or Cavendish, even if a further downturn in the retail market necessitates a shift in target occupiers.

Social Media: A Missed Opportunity?

2011-12-06T16:17:38Z

Some intriguing research was published this week by BCSC, which investigated shopping centres' relationship with social media, and how retail schemes could better utilise such platforms to their future advantage.

By analysing primary data collected from shopping centre managers and social media users, BCSC were able to determine how effectively the two were interacting.

Some statistics published in the research were illuminating. When asked why they didn't follow a shopping centre on social media, a combined figure of 31% of the respondents said that they were either unaware of the scheme's on-line presence or had never considered it as a means of interaction. In addition, only 12% of shopping centre managers said that a dedicated social media executive was tasked with managing their on-line output, and less than half of the centres (42%) carry any written guidelines on social media usage.

These are just a few of the statistics that point to a missed opportunity for schemes to engage with customers on an increasingly popular platform. There seems to be a very clear and obvious dichotomy between what the public would want from a shopping centre via social media, and what those centres are currently providing. The malls seem to currently churn out repetitive marketing material, precipitating a swift click of the 'unfollow' button. People would, in fact, prefer malls to inform them of new store openings, upcoming events and news about improvements to the centre.

An issue that is brought up in defence of social media negligence is one of metrics. Malls find it difficult to quantify the benefit given to them by an increased on-line presence, and whether indeed it would be worth spending money improving their output on such sites in order to generate increases in revenue that may have arrived regardless. My view is that with some 175 million people people now using Twitter, and 400 million logging onto Facebook daily, is ignoring the potential of social media a risk that retailers and retail developments can afford to take?

The fact is, more and more people are harnessing the 'wisdom of crowds' provided by these sites to inform their choices when it comes to retail - and negative on-line publicity spreads like wildfire. Without active management of social media output, centres could find their reputations tarnished in the blink of an eye via a chatroom, hashtag, or an orchestrated on-line campaign.

Read the full report on-line here.

Out with the football, in with the retail.

2011-12-01T15:44:58Z

An interesting development in Basingstoke today; the local football club has decided to switch from the old Camrose stadium to a new 5,000-capacity ground adjacent to the Hilton Hotel in order to meet the requisite standards to play in a higher league.

The old ground will be sold off in order to fund the new £10 million arena, and turned into a new retail park, the size of which seems to have baffled our beloved BBC. They list the intended size of the new scheme as being 90,000 sq ft (27,432 sq m) - which is an astonishing mismatch of metric and imperial measurements to the tune of being wrong by 19,072 sq m!

I once met a Basingstoke resident who told me that the Camrose Stadium was, in fact, spelt entirely with capital letters in all local publications; and as such needed to be shouted at every mention. I look forward, therefore, to the planning, building and letting of the CAMROSE

SHOPPING PARK, where all customers and staff will be forced to bellow at each other over every transaction, or face ejection from the premises.

This is another example of the growing link between stadia and shopping arenas. In Milton Keynes, MK1 Shopping Park will be situated directly adjacent to the MK Dons stadium upon completion next autumn. Similarly, Southend United's new stadium (left) will feature 23,000 sq m (247,600 sq ft) of retail space to accompany flats, a hotel and a conference centre.

Debenhams Announces New In-store Service for the Blind.

2011-11-22T15:44:38Z

Debenhams announced today that it will be the first and currently only big-name retailer to provide an in-store bespoke service for blind customers, having worked in tandem with the Royal National Institute of Blind People (RNIB) to identify and address the main issues faced by blind and partially sighted customers in store.

Specially trained personal shoppers will assist the visually impaired customers after having gone through extensive preparation programmes. Among other things, the advisers have trained whilst wearing modified glasses which simulate various degrees of sight loss, enabling the clerks to assist patrons with all manner of sight problems.

In addition to the empathetic training, the personal shoppers have also been taught how to best describe products to those unable to see; and how to communicate sensitively and effectively with the customer.

The service was borne out of research conducted by the RNIB which indicated that 76% of blind and partially sighted people find shopping difficult or impossible - a signal that the provision of a service such as this in a high-profile outlet is well overdue.

It is of little shock that Debenhams has been the first to step forward and take action to improve the retail experience for all customers. The brand has shown its willingness to move out of the proverbial stone age by including wheelchair-bound models in national window campaigns, and has instigated a company-wide ban on airbrushing in photography.

I have to say kudos to Debenhams. We can't expect in-store staff to be all things to all patrons, but a gesture such as this to try and improve even a small portion of your customers' experience ought to be commended.

Confusion and Opportunism Reign in Recession.

2011-11-21T14:37:54Z

What a tough time to be a consumer.

Everything is conspiring against Joe Bloggs in his bid to escape the disorientating and confusing world that the recession has flung him into, and now, according to the Guardian, it seems he can't even trust supermarkets to price items in a non-confusing manner.

Before you judge him, maybe take a look at this accompanying gallery, depicting some of the less well-thought-out price labels on everyday items - and it's not just supermarkets who are guilty. If this continues, I can't imagine it being too long before customers simply take items from the shelves, replacing them with as much money as they feel is obligatory for the product.

Perhaps his escape route lies in a hidden jackpot somewhere. Camelot has recently posted half-year results indicating an increase in ticket sales to £2.45 billion - an increase of 19.9%; and this wave of opportunism is being reflected in the physical retail world as more and more vacant units are being taken over by gaming arcades. Couple this with the fact that high street betting shops have increased their presence by 5% since 2008, and you are looking at a population clearly enticed by the idea of an easy way out.

High-profile governmental figures are throwing their two penneth into this discussion, insisting that something be done on a local level to rein in the avalanche of betting shops and slot machines adorning Britain's streets. The fact is, that with the current figures on high street vacancies, isn't there a phrase involving beggars and choosers that can be applied here?

I suppose the crux of the matter lies in whether these outlets are on the increase because of consumer demand, or are they simply placed deliberately in areas where people have a higher propensity to use them (i.e: those areas worst affected by the crisis).

If there exists a demand, then where is the complaint? Landlords are under no obligation to be fussy over who is trading from their premises, and some will go to extreme lengths in order to avoid paying vacancy rates on their properties. Those who claim that a vacant unit would be preferable to an occupied store which focuses on gambling might want to look at the logically sound 'Broken Windows Theory' before proffering such an argument.

Of course, a heavy gaming presence on a high street is not ideal, but very little about the current situation is. All eyes to the heavily anticipated high street review, then, as we await the creative solution which will save Britain from the confusing and overly-opportunistic maelstrom into which it's heading.

Move over, Google, there's a new pop-up in town...

2011-11-18T09:49:10Z

Yet another big name e-tailer has announced that it will be slinging itself into the murky waters of high-street retail as the countdown to Christmas brings even more ferocity to the battle for market share.

On-line auction site eBay will be trialling a new pop-up store in Soho's Dean Street this December, and becomes the latest in a string of on-line retailers to announce a high-street presence. The store will open on December 1st, and close four days later as the internet giant tries to maximise profit from the busiest week of the year for web-based purchases.

I must say the eBay store sounds a great deal more civilised than I first imagined it. I envisaged a giant digital clock on the back wall, ticking down to the countdown theme as frenzied shoppers proffered increasingly ludicrous bids for a towel or crisp emblazoned with the image of Jesus. However, eBay doyens have rendered this pure fantasy by instead featuring barcoded images of more sensible products which, when scanned, direct a smart phone browser to eBay's pay-wall.

This means that by the end of this calendar year, we will have seen Ocado, Amazon, Google, Simply Be and now eBay debut their physical retail presence in high-profile destinations, whilst other big name brands have fully immersed themselves in the world of multi-channel retail. Surely a message to the market that the collision between on-line and high street shopping has now become a fusion; and news that even Tesco is leaning towards space-saving is as big an indicator as any.

Coming soon to the Hoo Peninsula...

2011-11-16T11:43:09Z

...An entirely new town!

Medway Council this month received a planning application from The Defence Infrastructure Organisation, (c/o Land Securities and CB Richard Ellis), to turn the site outlined below into a new community:

At the centre of the 325-hectare site will be a new 35,000 square foot supermarket,

supplemented by a further 22,000 square feet of mixed-use retail. The offer is designed to support the occupants of some 5,000 new residential units in the new community who, presumably, will be instantly offered work in the 395,000 square feet of office space; and send their children to one of the FOUR newly-built schools.

So often we hear about town centres looking at redevelopment - it was a little novel to come across these plans; which seem to have eschewed the traditional option in favour of simply plonking a new urban centre on agricultural land. Judging by the photos on the enormous Design and Access statement supplied, the site has been little more than an abandoned train station, used in part for occasional military procedures.

The twenty-year development schedule may well render my 'Coming soon' title a little wayward. the images on the right display where and when this new community is going to spring up. These, of course, are outlines. The developers admit themselves that the growth engine for Lodge Hill will be residential development - an element which itself is governed almost entirely by market factors. Site preparation for the first set of new-build homes may not get underway until 2013, meaning that even at the most optimistic estimate, we won't see a completed urban centre until 2033.

Nonetheless, I look forward to viewing the series of reserved matters applications which will supplement this site. Strewn within the planning documents are references to other successful market communities from which all concerned with this project could take inspiration.

The Pantiles, in Tunbridge Wells is used as an example of a retail hub within a market town supported ably by the residential community it serves. Also mentioned is Delft in Holland, a municipality whose rustic 13-century design embraced the existing layout of the land on which it stood, allowing for easy orientation via straight, grid-pattern streets.

Design will be key in ensuring the scheme's success as a market town. Everything needs to be walkable, with little or no chance of sprawl occurring at the site edges; the layout of the town centre needs to encourage flexibility for building uses without running the risk of allowing overbearing architecture to encroach on the town's idiosyncrasies.

We will have to wait and see just how long it takes for the outline application to get the thumbs-up, but with Medway Council's own economic targets looming over them, it is likely that they will endeavour to get this project off the ground sooner rather than later.

A brewing storm in Croydon

2011-11-11T16:16:33Z

Poor Croydon. The town centre is crying out for a cohesive, coherent retail-led regeneration strategy but, judging by this week's events, I suspect it will be some time before a happy conclusion is reached.

Westfield's jubilation on Thursday that it is to act as a development partner to the Whitgift Foundation, which owns the freehold and a 25% long leasehold stake in the town's Whitgift shopping centre, was short lived.

It transpired that Royal London and Irish Bank Resolution Corporation, formerly Anglo Irish Bank, which together own 75% of the long leasehold and the management of the mall, had no idea that Westfield and the Whitgift Foundation were striking a deal.

The new agreement has all the potential to frustrate IBRC in particular, since it has been advised by Jones Lang LaSalle throughout 2011 on a strategy both for its stake and the wider redevelopment of the Whitgift shopping centre.

The indications so far are that the brewing storm will accelerate Royal London and IBRC's ambitions to seek out their own development partner for the mall.

Now you can bet that Hammerson, the new owner of neighbouring shopping mall Centrale, and Minerva, which long held ambitions to develop out a neighbouring Croydon retail scheme, Park Place, will both be keeping a keen eye on proceedings. And firms including British Land, Land Securities, Capital Shopping Centres and Lend Lease have all flirted with the idea of investing in Croydon over the years.

So which investor - developer will catch Royal London and IBRC's eye? And what will be the reality of having potentially two parallel development agendas for one shopping centre?

For those familiar with the development of Croydon town centre, this will be just another twist in a long-running saga. But for those new to the scene: watch this space. You're in for a ride.