Macy’s, Shop-in-shops and Pop-up Shops. How to expand your reach to a wider customer base. How can small businesses use pop-up shops, and shop-in-shops.
Check out TheStorefront.com for more info on Pop-Up Shops.
Hi and welcome to the Retail Roundup. This is Syama from Scaling Retail. This week I’d like to discuss Macy’s and the launch of their new Finish
Line shop-in-shops. Now Macy’s has decided to go forward with launching 450 Finish Line shop-in-shops, in their Macy’s stores, nationwide. This is
great opportunity for Macy’s to establish themselves as a shoe wear expert, as well as for Finish Line to have a much larger distribution, in terms of their product assortment, and really reaching out to a new customer.
Now you might wonder, what does this have to do with small business? Well, small businesses can in fact leverage the strategy in two ways. The first is being established as a shop-in-shop, and going and approaching larger retailers and positioning yourself as having a niche marketplace. The
operations and your new supply chain, in fact really well smoothed out, so you can establish them and be able to provide them with a new product
assortment, as well as being an authority within a certain demographic.
The second thing you can do is, really go forward with the pop-up shops. Now pop-up shops are a great way of being able to reach out to a new
customer base, being able to test new products, and being able to provide something that’s not only not so time-intensive but also financially
intensive or a commitment.
Now the best way to achieve both these strategies is really going to be establishing yourself as an expert within your niche marketplace. You know,
do you know who your customers are? Do you have good relationships in place with vendors? You know, are you able to really provide the best customer
service? And what kind of press, I mean what types of things are going on with your space that allow you to be an expert?
Now when it comes to approaching a retailer and looking at these different things, the best thing to do will be to take a look at the retail store
operations and managers. These guys will be able to really help you in terms of determining what their strategies are and also, you know, what they’re really looking for, in terms of a partnership.
Now if you are a small brand and you’re looking to establish yourself in pop-up shops, definitely take a look at different organizations and groups
that are looking for larger designers. If you’re looking to go kind of fully force on your own, definitely take a look at stores like the
storefronts, which provide really great access and opportunities to brands who are looking to test market their products with the new arenas.
Hopefully that was helpful. Talk to you soon. Have a great day. Bye.