Brick-and-mortar stores can be a fatal endeavor for fledgling online brands, but one company is taking a lesson from today’s sharing economy and bringing it to retail, Yahoo! Finance reports.
Co-working allows a number of companies to share a single office, staff, and utility bill, lifting the burden of rent and operational costs. New York City-based startup ShopFulfill plans to offer that model to online retailers with its new Anchor Shops.
“We are providing brands the ability to expand into brick and mortar without the upfront expense,” says Shlomo Chopp, founder and CEO of ShopFulfill.
Starting at $600 a month, online brands can lease space in brick-and-mortar Anchor Shops, sharing retail staff, warehousing and transportation for stocking its merchandise. The commitment is month-by-month, with a contract tailored to the amount of space the brand needs. And ShopFulfill offers design and merchandising expertise to help brands maximize their impact in the space.
Amazon may have driven sales away from brick-and-mortar stores but selling on the e-commerce giant’s site or establishing an online-only presence isn’t necessarily a brand’s path to success, Chopp says.
Foot traffic boosts brand awareness and sales. Customers can discover and become loyal to an online store while already out shopping. Plus, offering both e-commerce and brick-and-mortar stores allows companies to reach customers who want to order from the couch as well as those who want a product they can see in person, Chopp says. Read the full story.
