It’s no surprise that retailers have been struggling with all the lockdowns and restrictions in place. And a specific struggle that they’ve been facing is the offline to online ratio for their business.
It’s clear that you need an online platform to sell your goods, but there are still many benefits to being a part of a shared space. Despite this, 80% of shoppers still go to the store to buy something they want right now.
And when it comes to Canadian handmade, in-store experiences matter more than ever. Customers want to touch and feel handmade products because they understand the level of creativity and passion that goes into making them.
So, what options do Canadian makers have? And how can they excel both online and in-store? The answer is simple: open a Nook.
Why Should You Invest In a Nook?
Being an artisan is hard. Running a successful business is about more than making great products. There’s the marketing, operations, shipping, sourcing materials, running an online store, independent markets, customer returns—the list goes on.
With a Nook, makers get everything they need to solve all of these challenges. You get access to an online marketplace, an in-store Nook, and all the technology required to be successful.
Find out how The Nooks is empowering Canadian makers to build profitable businesses—both online and offline.
1. Keep the Focus on the Customer Experience
It’s all about the customer, and customers like to have unforgettable experiences. Customer connections, whether in store or online, make up a big part of the customer experience.
All the rapid ecommerce growth and technology in the world can’t match experiencing a product in person—the instant gratification that comes with bringing your purchase home immediately.
And with COVID-19, customers are dying for an in-store experience that allows them to truly “experience” the products they are interested in.
From the perspective of a seller, retail can help you get to know your customers better. When you take a space in a shared retail store, you quickly learn what sells, what doesn’t, and what customers are asking for.
And being in-store is a great way to upsell other products to customers. It’s easier when talking to someone face to face to recommend and show them how products would go together, rather than just suggesting a product online.
The world of ecommerce is important and has come a long way, but there are still benefits to in-store offers that can’t be matched online.
2. It Makes Life Easier
Many small businesses start out online. And whether you’re using a handmade small business platform or you have your own website, you likely know the struggle. Things ranging from shipping, fulfillment, delays, technology failure, customer complaints and more can all add up and cause delays, frustration, and stress.
And while shared retail won’t solve all your problems, it can help alleviate some of the challenges of online sales and provide a great compliment to your existing business.
Having a retail presence:
- Gives you a competitive advantage
- Increases legitimacy
- Expands your customer base
- Increases sales
Whether to pick up an item to save the hassle and cost of shipping, or to experience your product in person, being in a shared retail space enhances the customer experience.
And when used effectively, online and retail are a strong combination to help increase your sales and customer base, while also alleviating some of the work from your life.
3. Community. Community. Community.
We get it. Smaller companies and start-ups don't always have the capital, time, or know-how to open a full storefront. And if we’re being real, it doesn’t always make financial sense to just go full-on brick and mortar for a lot of businesses.
But that’s why shared retail, such as The Nooks, disperses the overhead and responsibility, reducing the risk and cost to individuals.
Plus, the community of such a space is a great place to:
- Get feedback
- Share ideas
- And co-promote!
When you work with The Nooks, you’re not alone, and you have a community of makers who support each other as they all grow together. Everyone is invested in your success, cheering you on every step of the way.
Imagine the momentum generated by each business bringing in their respective customer base, promoting the store, and driving sales! Shared retail opportunities provide small businesses with a community of potential, building a strong foundation for success.
4. Flexibility & Control
The biggest thing that a small business owner could be thinking right now is how can they afford to rent their space, especially with restrictions constantly changing.
But that’s the beauty of working with The Nooks—you aren’t tied down to multi-year commercial leases. You get the ability to create an in-store experience while still growing as a small business.
Having a shared retail space provides you with flexibility, community, grows your customer connections, and can make your life just a bit easier while you run and grow your business.
On top of that, you’re not renting out a whole store. Rather, you’re sharing a space with other retailers and able to split the costs that way. This also gives you additional exposure to customers who are interested in Canadian handmade.
And with more and more Nooks locations opening up in Canada, your customer base will continue to grow nationally, giving you even more exposure online.
Are You Ready for a Shared Retail Space?
There are so many reasons why a shared retail space is important for small business, the biggest being that it is an opportunity to build, learn and connect with a diverse community of talented and passionate makers.
When you work with The Nooks, even in times of uncertainty, you can make sure your small business will continue to grow.Are you ready to #findyournook? If you’re interested in growing your small business, keeping 100% of your sales, and joining a community of support, apply here and start with The Nooks today.