Co-Retailing: The Mall of the Future

Co-Retailing: The Mall of the Future

Co-Retailing: The Mall of the Future 1440 428 Chute Gerdeman

For decades the mall was THE retail destination. It was where shopping and social merged. Over time a new generation of consumers entered the market and loyal ones were walking away. We gradually watched the love of malls erode and high-profile stores exit.

Founded on different principles, the Public Factory in New York might have the right formula for the future of the mall. Bridging the gap between traditional long-term leases and the ever-popular pop-up, Public Factory offers rented retail space with flexible terms. Membership benefits of $3,000 per month offer 100 square ft. space to a range of consumer goods from apparel and accessories to beauty and personal care at a lower risk and on shorter terms with a minimum three-month engagement.

After his own trials and tribulations of lease negotiations and steep monthly rents, Beau menswear founder, Yazid Aksas, set out to create a co-retailing concept offering space to emerging consumer brands.

“Public.Factory is a complete rethinking of the ideal retail environment for today’s branded consumer goods. We aim to assemble communities of members that have something in common namely, a creative soul. The fashion industry, among others, is heavily represented.” – Yazid Aksas, CEO

Located in New York’s Soho Grand Hotel, Public.Factory’s 3,300 square foot space serves as a curator of brands with a cohesive and contextual rich story told through merchandising and display techniques. Each brand is a complemented by their neighbor of brands, and an online marketplace showcases the designers in residence and their unique perspective. With access to exclusive products and assortments changing so frequently, it creates a reason for consumers to keep coming back.

Public.Factory is planning expansion of the concept with a womens-only fashion and homegoods store in Soho (just blocks from the original space), and another concept in the heart of San Francisco’s Union Square focused around the connected consumer life featuring innovative tech products.

Takeaway: Uber and AirBnb pioneered the sharing economy. Now is the opportunity to understand how those principles can translate to retail. The benefits of this approach not only benefit the consumer brands and the retailer, but also offer a unique experience to the consumer at the same time.

Photo Credit: Public.Factory

HOW WE THINK SETS US APART

A collection of insights research and observations across retail, restaurant, c-store and grocery. Helping brands provide a better experience for their customers. Enjoy.

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