As the retail industry is looking for options to adapt to a new reality, pop-up shops offer a sophisticated way of adding value to a property and increasing net operating income. Our guest this week is Adam Bent of thisopenspace, a company that is on the leading edge of connecting landlords and the brands who appreciate this growing marketing medium. In this episode we discuss:
- How much rent a landlord can expect from a short term pop-up.
- the significant non-financial benefits to the landlord and other retail tenants.
- How thisopenspace works with the brokerage community.
- What metrics are meaningful when determining a suitable location.
- Adam’s favourite location of all time (hint: it was a Main & Main site in downtown Toronto).
- Which of their markets have seen the strongest growth between Vancouver, Ottawa, Toronto and New York.
- Kanye West’s pop-up in Toronto.
- How large brands like Lululemon and Harley-Davidson have used pop-ups as part of their omni-channel marketing strategy.
- Frank and Oak transitioning from an online-only retailer, to pop-up shops and more recently into multiple permanent stores.
- Amazon’s plans to open 100 pop-up stores this year.
- “The Playground“A pop-up ready space that has been home to 200+ pop-up shops, exhibitions, and events since 2012. This minimalist space is a blank canvas for creativity. Located in Vancouver’s vibrant Chinatown, this space has been transformed into an elopement style wedding chapel, the world’s first café repelling wireless signals, and a handmade Japanese knife shop to name a few.
- Walmart plans to launch 1,000 square foot urban locations and thisopenspace is involved. Find out what they plan on doing with them.
- Westfield’s pop-up shop at the base of the World Trade Center.
In the News…..
Adam talks about an article from Bisnow: Pop-up Retailers Have Become The new Normal at Malls
Aaron has recently spent some time travelling across Canada for work. He poses a question on the show; Why isn’t there development in Montreal?
A bit about our guest….
Adam Bent is the Co-Founder & COO of thisopenspace. Adam’s past ventures have put him at the forefront of building brand driven online marketplaces that are overdue for innovation. Previously Adam was VP of Business Development at Provender, an online marketplace that addressed inefficiencies in local food delivery to the wholesale industry. He also lead growth for Urbanspoon in Canada before its $50M acquisition. Following his love for all things delicious, Adam is a partner in Prairie Boy Bakery in Toronto.
Adam Bent LinkedIn
A bit about our guest’s company…..
thisopenspace is an online marketplace. We make it easy for creative teams to discover and book any space for an hour to a few months. From an empty downtown retail space, to an art gallery inside a heritage building, or a converted shipyard event venue, it can all be found on thisopenspace. Property owners and lease holders can open their doors, reaching new audiences, expanding their network, and growing their business with additional income.