TOP 3 REASONS TO CONSIDER SHARED RETAIL PRESENCE
There's lots of reasons to consider a retail presence as a small business, but a full storefront isn't always feasible or worthwhile. The Nooks and other shared retail spaces offer a unique opportunity for small businesses. Here are the Top 3 reasons to consider a shared retail space:
1. CUSTOMER CONNECTION //
It’s all about the customer, and customers like to buy in person. The business world is realizing that online shopping cannot match experiencing a product in person, and the instant gratification that comes with bringing your purchase home immediately. From the perspective of a seller, retail can help you get to know your customers better. When you take a space in a shared retail store, you quickly learn what sells, what doesn’t and what customers are asking for.
2. BETTER TOGETHER //
Many small businesses start out online. Whether you have an Etsy shop or your own e-commerce platform, you likely know the struggle of shipping, fulfillment, delays, technology failure, complaints and more. While shared retail won’t solve all your problems, it can help alleviate some of the challenges of online sales and provide a great compliment. Having a retail presence not only elevates your game and increases legitimacy, it also gives you somewhere to send your customers, whether to pick up an item to save the hassle and cost of shipping, or to experience your product in person. Used effectively, online and retail are a strong combination to increase sales and customer base.
3. COMMUNITY //
We get it. Smaller companies and start-ups don't always have the capital, time or know-how to open a full storefront. Shared retail such as the Nooks disperses the overhead and responsibility, reducing the risk and cost to individuals. Plus, the community of such a space is a great place to learn, get feedback, share ideas, collaborate & co-promote! Imagine the momentum generated by each business bringing in their respective customer base, promoting the store and driving sales! Shared retail opportunities provide small businesses with a community of potential, building a strong foundation for success.
There are so many reasons why a shared retail space is important for small business, the foremost being that it is an opportunity to build, learn and connect.
Are you ready to #findyournook? Apply here!