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5 Benefits to Opening Up a Shop-in-Shop

Shop-in-shops are becoming popular amongst retailers who are just launching their brand and want to create a presence from leveraging a larger brand. This concept involves shop-in-shop retailers setting up products and creating a mini-store within a larger store on a shelf, table, or section (depending on the original store owner’s preference). Shop-in-shops have been used for decades in large department stores (think Nordstrom cosmetics counters), and now trendy small boutiques, restaurants, coffee shops, galleries and other venues with extra space are renting out a small portion of it. For business owners shop-in-shops are a great way to jump-start a brand which have a small amount of inventory, handmade goods, and new products in the line which need to be tested in a low risk situation.

Thinking about opening one up yourself? Here are 5 benefits to popping up as a shop-in-shop:
 1). Foot Traffic. If you’re opening up a shop-in-shop in a store which is already popular, you will have existing foot traffic from people who are loyal to the bigger brand. This is a great opportunity for your brand to be discovered, because you will have access to the larger brand’s customers. People can sometimes shy away from unfamiliar name brands, so pulling customers in with an brand they are familiar with already is a great way to leverage already-developed trust.

2). Budget-Friendly. A shop-in-shop is much friendlier on your wallet than renting out an entire space to yourself. If you’ve just launched your brand and you want a physical presence, a shop-in-shop will be the most feasible option to gain exposure and start creating a friendly customer base.

3). Variety. Let’s say two customers walk in the store. One is looking for a new wine glass set, while the other is looking for some fresh soy wax candles. Sometimes a store won’t carry everything the customers are looking for, so variety is important to keep customers browsing. Why not cater to both? Why not cater to all, for that matter?

4). Testing Out the Market. Sometimes you’re not sure if your product will work in a particular location. Opening a shop-in-shop is a low-risk opportunity to test out the area and see if your product sells in the neighborhood.  If you’re in the shop itself you can see how the customers interact with other products in the store, and check out the products you have to offer. If they are engaged with your brand then you have definitely catered to the correct neighborhood! Maybe then you can increase your sales by proceeding with a pop-up-shop.

5). Cross Promotional Opportunity. It’s normal to worry about competition, but it’s important to understand that the person you’re opening up shop with wants you to succeed (just make sure you’re not selling the same item)! Why not help a neighbor out with the products you don’t happen to sell but know that your neighbor does! For example: Someone is looking for socks, and you sell shoes. If the store owner you’re sharing a shop with has them, you can point them in the right direction. If the store owner happens to have a customer ask them about shoes, they can help them find out about you! It’s opportunity to help the community around you, and return have them help you.

Reference: thestorefront.com