One of the coolest things about co-retailing is that it changes the fundamental relationship between buyer and seller. Instead of simply providing products for your customers to buy, you can think about the opportunities that can change their entire experience with your brand.
Below, learn a few of the ways that co-retailing provides unique opportunities for retailers—along with examples!
1. You can inspire new ways to think about your products.
For example, a loyal customer might already enjoy purchasing your company’s clothes because they’re affordable and comfortable. But if you co-retail with a company that sells accessories, your customers might also see how stylish your clothes are, in a whole new light, as they buy entire outfits—or even entire wardrobes—in a single visit to one single address.
2. You can also inspire entirely new ways of life.
For example, imagine a place that provides massages to moms while their kids get a haircut. That’s a two-for-one that a lot of people might enjoy, and all it would take is two smart businesses coming together! Each of those businesses already exist separately, and they each know how to do one thing really well. But with their powers combined, in a single retail space, they have suddenly become something bigger than the sum of their parts. Suddenly, you’ve created an actual destination for busy families on the weekend.
3. You can inspire new experiences.
For example, what do you sell that might pair well with another product—or even an experience? Is it possible that your shoe store would partner nicely with a couch emporium? Think of all of the comfortable places that people could sit down while trying on shoes! It would definitely give your customers something new to think about--and help your brand stand out from every other shoe store in the city.
4. You can inspire customers to think about your brand in new ways.
For example, does the location that you’re in, or a new location that you want to enter, motivate you to reexamine your company’s? If you were moving to a notorious music city, like Nashville, you might suddenly look at your line of pots and pans in a whole new way!
Now that your creative juices are flowing, you’ve probably got a list of ideas started about the opportunities available to you if your find the right partner, in the right place, who you can share your next retail space with. And you can find that perfect partner using SharedRetail, the program that connects retailers looking for co-retail opportunities around the world.
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