eBay recently launched a new retail concept store dubbed 'The New Stand' that gives innovative products from small businesses the chance to shine in New York City.
Earlier in the year, eBay launched the Retail Revival mentorship program with the city of Akron, Ohio to support local businesses, especially with growing their ventures online. Now, small businesses that make everything from essential oils to light fixtures made from skateboards are being featured in the new retail concept for a limited time at Brookfield Place and the Union Square subway station.
At The New Stand, shoppers also have the chance to pick up limited-edition 'Taste of Akron' boxes filled with unique snacks that help to support an Akron-based community development organization.
Entrepreneurial Concept Shops
eBay's 'The New Stand' Store Spotlights Innovative Small Businesses
Trend Themes
1. Retail Revival - The trend of online marketplaces like eBay supporting and promoting small businesses in physical retail stores provides opportunities for disruptive innovation in the retail industry.
2. Concept Store - The emergence of concept stores like 'The New Stand' showcases unique and innovative products, creating disruptive innovation opportunities for small businesses and the retail industry.
3. Localized Products - The trend of featuring localized products, such as 'Taste of Akron' boxes, provides an opportunity for disruptive innovation in the food industry by supporting and highlighting local communities and their unique offerings.
Industry Implications
1. Online Marketplaces - The concept of eBay's 'The New Stand' store reflects a disruptive innovation opportunity in the online marketplace industry to bridge the gap between digital and physical retail experiences.
2. Retail - The rise of concept stores and the inclusion of small businesses presents disruptive innovation opportunities for the retail industry by offering unique and curated shopping experiences.
3. Food - The promotion of localized products and supporting community development organizations through unique snack offerings creates disruption innovation opportunities in the food industry by highlighting local flavors and supporting local communities.