What does this even mean anymore? People want a Wembley market update but for which one, old or new?
The new Wembley market dates seem all very hush-hush about when it’s due to say, ‘Hello Wembley’.
The old market confirmed that they will be revealing a new date and location not too far from Wembley. While some of the displaced market goers have since discovered the London Designer Outlet, many more are only just finding out that old Wembley market has moved.
Displaced Wembley market diaspora
Old Wembley market was a place where multi-cultural groups from low-income backgrounds would regularly meet.
Low income consumers had a far more positive view of shopping at Wembley market than medium to high-end consumers have shopping at Westfield.
Why were Wembley market shoppers more satisfied? The answer is that low income consumers compare themselves only to other low income consumers. If someone was buying a counterfeit Gucci handbag, it’s ok because other people at the same stall were also buying it. Everyone was in the same boat, casting a net and fishing for fakes.
Contrast this to Westfield London in the designer village. When medium to high-end consumers are inside the Gucci store purchasing a £500 handbag, the atmosphere becomes competitive. Although medium to high-end consumers can afford this purchase, it can be a big decision resulting in consumers feeling under pressure.
At Wembley market, low income consumers felt no pressure. Hey it’s a throw away fake Gucci bag, they have nothing to lose! The explanation behind this behaviour is people compare themselves locally by comparing themselves to people in the same boat as them. This is referred to as the ‘big fish little pond effect’.
So where does the London Designer Outlet fit in with all of this?
Every low, mid and high end consumer wants to become a bargainista, it’s now more popular than ever to hunt for bargains. No matter what your socio-economic background is, up to 70% off high street brands is perfect for this zeitgeist of thriftiness.
This would explain why the London Designer Outlet has had over a million visitors since its launch. Whilst Brent Cross, Oxford Street and Westfield London are the standard for many, some former Wembley market goers will be experiencing LDO’s brands for the first time.
Transitioning to now
One thing for sure is that the displaced old Wembley market goers won’t have that same sense of voice and community they once had. The outlet brings lots of new services to what was an under serviced area. It also brings that cold, convenience and contactless payments just like a west end high street.
The huge crowds that once visited old Wembley market enjoyed the slow pace and old-fashioned feel. Unlike today’s frantic high streets it was easier to stop and have conversations around the no-frills stalls.
If the London Designer Outlet is ‘Goliath’ then the old Wembley market is surely ‘David’ whose advantage clearly is a lo-fidelity club for low-income consumers. Don’t get me wrong, this club isn’t exclusive, you’ll find that people of any background can see the appeal of a more switched-off, slow-paced and old-fashioned shopping experience.
Having said all of that, don’t forget a new traditional gourmet market is in the pipeline which will provide an alternative to the high street brands at LDO.
Are you a former Wembley market goer who has made the transition to London Designer Outlet or somewhere else? Let us know below (anonymously, should you wish to).