Grosvenor taps into retail innovation to drive footfall in the West End
Commercial landlord Grosvenor has unveiled a partnership that will allow retailers reopening in Mayfair and Belgravia to showcase live in-store inventory to nearby shoppers.
In a bid to drive footfall to bricks-and-mortar stores in London’s West End and support tenants during the Covid-19 pandemic, Grosvenor has partnered with British tech firm NearSt.
The partnership highlights the importance of making in-store inventory easily accessible to customers.
Unlike normal Google Ads, which link customers with online stores, the technology enables people to find local retailers carrying the products they are looking for. The initial two-month scheme will also allow customers to use a ‘What’s in Store’ tool, and retailers will be provided with intelligence to help them understand local demand.
Grosvenor said that in week one, products from the first three brands on NearSt were seen by almost 15,000 shoppers searching locally.
Jewellery designer VICKISARGE, children's clothing boutique Pepa & Co and design label NRBY are some of the brands which have already signed up.
Amelia Bright, executive director of the London Estate at Grosvenor commented: “Technology is integral to the best shopping experiences and retail destinations. Visitors and workers are coming back to central London but with transactions in mid-July down 60% compared to January for apparel shops, we must innovate to help retailers recover.
Nick Brackenbury, co-Founder & CEO at NearSt, added: “As socially distanced shopping becomes the norm, helping retailers easily and safely attract local customers will be essential for success.”
Grosvenor is one of London’s biggest commercial landlords. Its portfolio includes large swathes of the West End, an area that has been dramatically affected by the coronavirus crisis.
Almost two thirds of retailers on the company’s estate are independent or smaller brands, which are more likely to struggle for survival if sales remain weak.
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