Building upon the success of last year’s competition, Redwood has worked closely with Capital & Regional, asset managers of The Mall, to launch ‘The Retail Factor 2011’, a competition which seeks to unearth the retail entrepreneurs of tomorrow.
In a remodelling of last year’s competition, this year there will be 11 Retail Factor winners – one at each of The Mall’s community shopping centres.
Shortlisted businesses will initially be selected to trial new concepts on an RMU (retail merchandising unit) in The Mall for a fortnight. The panel of judges in each Mall will then decide upon a local winner, who will receive a prize package worth up to £10,000 that includes free trading space and invaluable start-up training from the National Skills Academy for Retail.
In the lead up to the launch, Redwood worked with Capital & Regional to prepare a media partnership proposal for each of The Malls to seek the support of their local press, securing five regional partners. Launching the competition in the press Redwood helped The Mall secure widespread coverage both in the local and regional press , and in key retail and trade publications.