The idea of borrowing a hammer from your neighbour, who then pops round for a cup of sugar the next day, is not new. Communities of people have shared the use of assets for thousands of years. However, the technology that now facilitates and formalises these exchanges is new, and seeding the growth of a whole new peer-to-peer business model.
In essence, the sharing economy is an economic model in which individuals are able to borrow or rent assets owned by someone else, mostly when the price of assets are high, and when these are not fully utilised all the time.
The sharing economy, popularized by the likes of Uber and Airbnb, has enjoyed remarkably rapid growth over the last five years. The idea is that by sharing resources, fewer are used and those are used more efficiently. It’s all about ‘access over ownership’…
The appeal and growing popularity of shops popping up in vacant retail spaces is a telling part of this story. The brevity of popup leases allows people to try out ideas in ways they never thought possible before. Popup shops are cost efficient ways to get businesses off the ground in city spaces and retail destinations, where affordability can too often be a barrier.
The arrangement benefits property owners too, ensuring that spaces continue to generate an income, even between long-term leases and that storefronts remain open and engaging, eliminating the perception that dark, closed-up shops create.
Like an ‘Airbnb’ for retail, Popup Shop Shop sources vacant space in shopping centres and on high street destinations across South Africa and offers these to the market for short term periods. Leaning even further in to the sharing economy model, Popup Shop Shop also has a range of stylish, modular, lightweight furniture – perfect for popups – to hire at affordable rates.
Sharing is a sensible way to approach retail, especially for first-timers. It significantly reduces the costs and risks involved, and allows you to test a range of spaces before making a long term commitment.
Contact firstname.lastname@example.org for more information about spaces currently available for popups.