Ways to Save Money with Shared Retail

As we’ve mentioned, three of the main motivators that are driving the co-retailing trend are reaching new audiences around the world, reducing your risk with new merchandise or locations, and lowering your overheard by letting you pay only for the real estate that you need—for as long as you need it.

Cost is a big factor for any business plan, of course, but it’s an especially trying time for retail. Declining sales across the board at brick-and-mortar stores is one of the primary reasons that pop-up shops and co-retailing have become an industry standard—even for the biggest brands.

It’s the same as getting a roommate when the landlord raises the rent again—or, more accurately, listing your apartment on Airbnb. Having others come in temporarily and help round out the rent is often the only way to make ends meet when you’re priced out of a neighborhood or locked into a lease.

Retailers are contending with heavy competition from the digital marketplace; even when people make it into physical stores, they often continue to price compare online and may end up ordering products digitally once they’ve tested them out in person. Though the company might still wind up making the sale online, it can be hard to justify the expense of soaring rents and employee salaries that are no longer being supported by the promise of commissions.

If you’re interested in saving money by exploring the shared retail trend, here are some tips:

For Retailers/Sellers

Sharing retail space is a convenient way to save money while quickly promoting your products and your brand. You can control your costs by searching for available locations that fall within your budget, and you’ll only be renting spaces for a limited time period (which you can extend when you begin to make sales at that location and analyze the ROI).

You only need to send a small amount of your stock, which is affordable to ship and can be priced to move. You can choose to promote new items (creating awareness to generate future sales) or disperse overflow (reducing risk of loss). You can test new markets with very low risk, in case the demand and initial sales aren’t what you initially projected. You can also choose to partner with brands that elevate your profile, reducing some marketing spend.

For Landlords/Owners

First, SharedRetail gives you an additional income stream. You’ll save money by renting out some of the space you weren’t using anyway.

Plus, bringing in fresh products and new brands can attract new customers to your store. The brands you’re now partnering with will likely start promoting your location to their own customer base, since it’s a new outlet for them, exposing you to an entirely new audience.

You’ll also save money with a 90-day free trial on SharedRetail.com. After your trial period ends, you’ll be able to continue listing your location for the fixed low rate of $10 per listing per unit.

Retailers can start saving money today by listing their place or products through SharedRetail.

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