Merchant Innovation

RetailGrade Puts Pop-Up Shops On The Map

Storefront, a startup that helps brands find temporary retail space or pop-up shops, announced the launch of its new scoring tool RetailGrade aimed at helping business owner easily scope out new real estate.

Discovering the perfect location to launch a pop-up shop may become a lot less work.

Storefront, a startup that helps brands find temporary retail space or pop-up shops, announced the launch of its new scoring tool RetailGrade aimed at helping business owners easily scope out new real estate, TechCrunch reported yesterday (Aug. 26).

RetailGrade provides a retail attractiveness score to potential locations ranging from one to 100. The score is based on an algorithm that uses data points, such as population density, shopping options, entertainment attractions and the performance of existing retail stores in the vicinity.

The tool then identifies the level of “foot traffic with purchase intent” for more than 1.1 million brick-and-mortar retailers throughout the U.S., TechCrunch explained.

“Today, the photos do help to get an idea of the space, but most people will also look at Google Maps to get an understanding of the street or the neighborhood,” Storefront Cofounder Erik Eliason told TechCrunch.

“A lot of folks will even visit the store first, because in retail each street (and each section of the street) really matters.”

Storefront, which has assisted over 2,000 brands in finding pop-up store locations ranging from one day to one year in duration, is capitalizing on the growing trend of online brands looking to better reach offline customers with a physical presence.

Beauty box sample provider Birchbox, which gives consumers access to new products through its monthly offerings via mail, announced plans to test pop-up shops in cities throughout the country to test out which would be the next best location for a brick-and-mortar setup.

Birchbox is just one of several eCommerce stores experimenting with offline customer engagement in different ways, such as the launch of jewelry eRetailer Blue Nile’s “webroom” storefront.

Warby Parker, the well-known online eyeglasses retailer, opened its first physical location as an expansion of its (up until then) online-only business in 2013. As of today, nearly half of the company’s 500 employees now work in a physical store.

To check out what else is HOT in the world of payments, click here.

——————————

PYMNTS TV LIVE OCTOBER SERIES: B2B PAYMENTS 2021 – WHAT WILL YOU CHANGE? 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment

TRENDING RIGHT NOW