Monday, March 19, 2018

The Store-for-Hire Model

Source: Instagram (@thisisstory)

Nur Asri is an Associate at Larisa Ortiz Associates

As preferences shift and consumers continue to demand experiences in retail stores, the store-for-hire concept has become an incredibly popular strategy to keep brick-and-mortar stores exciting and refreshing. These stores change products and experiences constantly so that consumers are able to visit often without getting bored of the store and its offerings. But how do these pop-up-esque stores operate and how can you create one in your downtown? Let’s take a closer look at two of New York City’s most innovative stores- for- hire – Bulletin and Story.

With vacancy in downtown environments rising from the impact of e-commerce and rent speculation, get creative and put in-store spaces up for hire. Stores-for-hire can be a great way to regenerate interest in your downtown, especially among local entrepreneurs and makers who are still digitally-native and who can yet afford leasing an entire storefront all by themselves.

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