WeWork's WeMRKT Showcases Products Made by Members
Laura McQuarrie — July 9, 2018 — Business
References: wework
WeWork plays an important part in supporting the start-up community by offering shared workspaces and services for entrepreneurs, freelancers and businesses of all sizes—and it is now launching WeMRKT as its first venture into retail.
WeMRKT is an all-new retail space that's devoted to shelf space for products made by WeWork members. Some of the products offered in the physical space include healthy drinks and snacks, office accessories and branded apparel, which will benefit from greater visibility as a new business. The first handful of products to be featured in WeMRKT were chosen based on a pitch competition earlier this spring, with winners selected based on factors such as innovation, eye-catching packaging and their business plan. Going forward, similar competitions will be held quarterly to support other great new brands with big ideas.
WeMRKT is an all-new retail space that's devoted to shelf space for products made by WeWork members. Some of the products offered in the physical space include healthy drinks and snacks, office accessories and branded apparel, which will benefit from greater visibility as a new business. The first handful of products to be featured in WeMRKT were chosen based on a pitch competition earlier this spring, with winners selected based on factors such as innovation, eye-catching packaging and their business plan. Going forward, similar competitions will be held quarterly to support other great new brands with big ideas.
Trend Themes
1. Co-working Community Shops - Opportunity for co-working spaces to create retail spaces to showcase products made by their members.
2. Wemrkt - WeWork's venture into retail providing shelf space for products made by WeWork members.
3. Member-made Products - Increased visibility and market access for products made by WeWork members through WeMRKT.
Industry Implications
1. Co-working Spaces - Co-working spaces can explore retail expansion to create additional revenue streams and support their members' products.
2. Retail - Opportunity for retail industry to embrace co-working community concept and offer shelf space for member-made products.
3. Entrepreneurship - Entrepreneurs can benefit from WeMRKT platform to gain exposure and market their products to a broader audience.
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