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17 MAY 2022
Today, we launch an innovation challenge seeking to find new technologies and partners that are putting customer experience at the heart of bricks and mortar retail. In partnership with True, We are looking for start-up businesses to deliver more vibrant in-store shopping experiences, increase visitor dwell time and drive footfall across our retail and leisure destinations internationally.
In the UK, we are working to redefine the relationship between property owners and occupiers, based on a model of mutual success. Since 2020, we have introduced innovative new services to address pain points for occupiers including the Tenant Investment Fund and flexible, simplified lease structures at a critical time for physical retailers. Through a recent partnership with retail tech start-up, NearSt, we have also turned online shoppers into in-store customers through a pilot in Mayfair and Belgravia – our first direct investment into the tech sector.
Through this challenge, we are hoping to find innovators and businesses who are disrupting the market and building interventions to improve customer experience while also driving success for retail tenants.
The judges will be looking for solutions that are:
Craig O’Donnell, Group Innovation Director, Grosvenor, said: “We’re very excited to launch this Innovation Challenge to aid retail recovery post-pandemic. In Mayfair and Belgravia alone, we support around 500 retail and hospitality companies, the majority of which are independents. Understanding current and future retail trends and anticipating customer need will be crucial to the success of the places we serve and so I’m looking forward to seeing the solutions this challenge brings about.”
Mike Tattersall, Managing Director, Innovation True, said “Grosvenor are reimagining the tenant landlord relationship and helping businesses to grow and diversify post-pandemic. By understanding the technology and partnerships available to them in the retail space, they can pioneer change and enable their retail tenants to thrive. We’re excited to work with a forward-thinking partner that wants to break the mould and support the industry by embracing innovation.”
Find out more here.
Grosvenor is an international organisation whose activities span urban property, food and agtech, rural estate management and support for philanthropic initiatives.
We develop, manage and invest to improve property and places across many of the world’s leading cities. In the food & agtech sector our growing investment portfolio includes some of the industry’s most innovative businesses working towards a better food system. We manage rural estates and their environmentally sensitive habitats, while supporting charitable initiatives targeted at vulnerable young people.
We are a values-led organisation which represents the Grosvenor family and share a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
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