4. Digital platforms for short-term retail space sharing
Emerging retail brands are opting to sign short-term licenses with already existing retailers instead of costlier long-term leases, with the license lasting anywhere from a week to months. For this reason, multiple platforms are popping up to make this transition easier for both landlords and brands.
Guesst is one such digital platform for retail space-sharing. The platform connects existing retailers to brands interested in renting space within an already-functioning store. Although the license is shorter than a regular lease, retailers can create a new experience for shoppers by hosting new and emerging brands. These unique experiences are what many retailers are looking to create for their customers.
Meanwhile, Neighborhood Goods curates spaces where emerging brands can sell their products on a rotating basis. The spaces also feature a bar and restaurant to increase the dwell time of customers. The first Neighborhood Goods space opened in Texas in 2018, and the company plans to open a second store in New York soon.
Storefront is an online marketplace that connects brands, e-commerce businesses and artists with space owners for short-term rentals. Along with putting retail brands into physical spaces, the site also allows landlords to list their properties and get access to thousands of renters already using the platform.