Grosvenor Launches Shopping Experience Innovation Challenge

Grosvenor has launched an innovation challenge seeking to discover new technologies and partners that are putting customer experience at the heart of bricks and mortar retail.

Grosvenor Launches Shopping Experience Innovation Challenge with True

News / 18 May 2022

Grosvenor has launched an innovation challenge seeking to discover new technologies and partners that are putting customer experience at the heart of bricks and mortar retail. By collaborating with us, Grosvenor is looking for start-up businesses to deliver more memorable in-store shopping experiences, increase visitor dwell time and drive footfall across its retail and leisure destinations internationally.

Grosvenor is working to redefine the relationship between property owners and occupiers in the UK, based on a model of mutual success. Since 2020, it has 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 one of the retail tech start-ups from True’s portfolio – NearSt – Grosvenor has also turned online shoppers into in-store customers through a pilot in Mayfair and Belgravia – Grosvenor’s first direct investment into the tech sector.

Through this challenge, Grosvenor hopes 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:

  • Social: The solution’s core purpose is to provide customers with the ability to connect with others to create an experiential shopping experience.

  • Personalised: It should be flexible to cater to users’ individual needs.

  • Interactive: It should elevate the shopping experience through interactive technologies.

  • Convenient: It should be easy to understand, quick to use and suitable for all ages.

  • Enjoyable: It should be fun and create a memorable experience to fuel word of mouth.

  • Secure: The solution should not infringe any consumer privacies and should be compliant with regulations.

  • Transactional: A critical part of elevating the in-store experience is providing transactional features for customers that make it convenient to make a payment.

Start-ups will be able to apply to take part in the challenge here. Successful applicants will be given the opportunity to pitch products or services to a panel of retail experts from Grosvenor, renowned high street brands and True. Deadlines for applications will close Wednesday 24th June 2022. The finale will take place on Wednesday 20th July 2022.

The winner from this challenge will get the opportunity to collaborate with Grosvenor on developing the idea or product, while making full use of its innovation lab, The Foundry.

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, MD of Innovation True, said: “Grosvenor is reimagining the tenant landlord relationship and helping businesses to grow and diversify post-pandemic. By understanding the technology and partnerships available in the retail space, Grosvenor 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.”

Head to the Grosvenor's Innovation Challenge page to find out more.