thisopenspace is a real estate technology start-up that offers brands a space to showcase their offerings in unique concept stores that suit particular themes. As thisopenspace only charges brands between $250 and $10,000 per month depending on their size and the space they require, it functions as a more cost-effective alternative to permanent store buildings. In addition, the start-up supplies brands with merchandising, staffing, marketing, and a POS system that's powered by Shopify.
The first pop-up, called 'Sleepover,' is said to honor the "Ritual of Sleep," and features a total of 35 different brands that complement one another. Some of the notable brand names include Canadian mattress maker Endy, modern marijuana lifestyle brand Tokyo Smoke, and Indigenous-owned moccasin company Manitobah Mukluks. With so many products featured, consumers can access the Queen Street West pop-up until the end of December to seek new methods of recuperating and improving their general health as a result.
Turnkey Experiential Retail Spaces
thisopenspace Launched the 'Sleepover' Concept Store in Toronto
Trend Themes
1. Concept Store Retailing - Brands can take advantage of cost-effective alternative store buildings and utilize full-suite management services for temporary retail spaces.
2. Pop-up Merchandising - Pop-up stores are becoming a popular trend as they bring together related brands and offer unique experiences to consumers.
3. Retail Technology - Real estate startups are developing new technologies to enable brands to have a physical retail presence without the high cost of permanent brick and mortar stores.
Industry Implications
1. Retail - The retail industry can explore the concept of offering unique and affordable retail spaces to brands that complement one another while including full-suite management services.
2. Real Estate - Real estate technology startups can innovate and develop new ways to offer unique, temporary retail spaces to brands and offer them management services to make the process seamless.
3. Marketing - Marketing firms can offer services to unique brands to collaborate and promote the customer experience at pop-up merchandising events where complementary products share the same space.