Communities near university campuses will benefit from the influx of students who come in droves, and each September there will be a fresh intake starting. Of course, there are those who complete their degree and remain in the area having fallen in love with the location, or because they are going onto study for a Masters. However, when the holidays roll around there is a drop in population as most return home to see friends and family. The summer holidays are one of the most extended stretches, but there is new hope for the local economy.
Summer schools
As Tom Whale of Oxford Summer School explains: ‘Running summer schools means that not only is a new revenue stream opened up to the otherwise abandoned campus but the local economy will receive a boost from the students and in many cases the parents’. Summer schools are designed for a range of students and are a great way to experience university style living for a couple of weeks, and add value achievements to their CV making their applications weighted when faced with a barrage of competition. In some cases, these are younger teens who are not used to staying away and often parents will stay within the local area in case they are needed. For older teens, there is little difference between the summer and the intake in September, and they will have the confidence to head out and explore the new area.
Great for retailers
This is brilliant news for local independent shops as well as larger chains. The spending habits of these teens will add to the revenue generated and see a rise in sales rather than the evening out effect caused by students going home and tourists arriving. Teens are frivolous spenders, and like convenience, so those closest to halls of residence are likely to see the best increase in trade. Habitually they will be seeking out food, drinks and entertainment style purchases but there are other types of purchase that are likely. It certainly is a win-win situation for the campus and the local retailers making summer schools valuable to the local economy.
Merchandise accordingly
Of course, this knowledge allows the local retailers to make merchandising decisions, and rather than prepare for a dry spell, be safe in the knowledge that there will still be a substantial population of young people in the local area. Summer schools tend to run for one or two weeks at a time, so this is also a continually cycling populous rather than the same cohort for the full period. There is plenty of scope to ensure that all favourite student items are kept well stocked and will not be wasted and perhaps a potential marketing opportunity for local businesses to take advantage of as well. Of course, there will also be the parents picking up and dropping off that will want accommodation for a night if the drive has been long, giving many different businesses the chance to increase revenue with summer school traffic.
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