Win retail space in a retail centre near you
HATCH by Revo is backed by some of the biggest names in retail property, including Landsec, Hammerson, Westfield, M&G Real Estate, Harcourt, intu and Ellandi. They will run a Dragons’ Den style competition offering free space and expert marketing advice in their retail places to up-and-coming retail businesses. The winner will receive business support from the British Independent Retailers Association (Bira),
There are no restrictions on what type of businesses can enter. Anyone from online-only outlets looking to experiment with a physical presence to food stalls wanting a bigger premises, can apply.
Entrants, who can apply online on the Revo website here, will come before judges in May. The competition will run for 2 months, with winners announced in May. The exact offer varies from location to location, but all winners will benefit from win free rent, with business rates and service charges covered too. They will also receive professional marketing and business support to help promote their concept and a year’s free Bira membership, which includes a unique retail insurance scheme, card processing, free legal advice and preferential banking rates.
Current locations include Westfield Stratford City in London, St David’s Dewi Sant in Cardiff, Silverburn in Glasgow, The Galleries in Tyne & Wear, intu Derby, Parkway Shopping Centre in Limerick, Republic of Ireland and Bloomfields in County Down, Northern Ireland.
Newspaper headlines have focused a lot on retail in recent months, as the high street and traditional bricks-and-mortar shops grapple with political uncertainty and weak wage growth, which have all weighed down on consumer spending. Higher costs such as the new National Living Wage and an unreformed business rates system pose additional challenges too.
The pop-up retail market is worth at least £2.3bn while major retailers, including e-commerce platforms such as Amazon, are opening pop-ups of their own.
Revo is warning urgent action is needed by government at both a local and national level, such as reforming business rates to level the playing field between online and physical retailers as well as additional help for the high street, to help the industry weather the challenges its faces.
Samantha Sen, Head of Policy and Campaigns from Revo, said “Small businesses are the backbone of the British economy and a source of great creativity and innovation. We believe that the retail success stories of tomorrow will come from today’s pop-up shops, kiosks, and e-tailers as dozens of brands and chains we now know and love have proven. Innocent Drinks for example started as a stall at a music festival!
“However, HATCH is about more than just identifying the next wave of entrepreneurs and talent who will shape – it is a demonstration of the industry’s commitment to invest in the communities we are embedded in. Yet there is only so much the industry itself can do, we need to see urgent action from government at all levels to reduce the burden on retailers and revitalise our high streets.”