Retail Locker Space Rental

babebe

Anyone here care to share your experinece retailing at locker space in Toyoutpost/Hako? The cube rental concept is not new but they are one of the popular choice now with alot of merchant demand & many new shops poping up at major shopping malls islandwide.

Had a locker for a month at 1 of their outlets in the west but sales is not very encouraging....thinking of moving to another outlet to try again

xoxoxo

Babebe, there may be a lot of merchant demand but what is important is whether is there consumer demand especially consumers' demand for your products. I think you have agreed with me in my other thread that the retail scene is exceptionally quiet this year. So before you move to another Toyoutpost/Hako outlet or any other cube rental concept store, try to check out that new area, human traffic flow, consumers' buying patterns and buying power, potential competitors, etc. Otherwise, you will simply be jumping from 1 black hole into another black hole

meinteel

I dont think its worth a shot. I see many good places empty. I've been to a few popular malls in the evenings and weekends, there are lots of browsers but hardly any buyers. I don't think its worth sinking any more money then you really need to for this period.

babebe

Thanks all for sharing your opinion. Have been retailing online for a few yrs & we're considering going retail but still thinking deeply as finiancially it's too risky and market is weak now.

Retailing at the cube space is a test pad for one of our new launch project, basically to test the market response n also as a form of awareness & marketing. Considered a low risk factor since rental is affordable & some of their shops have pretty good traffic, esp the new shop in the west. I personally feel that there are more browsers than buyers as mentioned by meinteel and most people are buying hp accessories from these cubes. Did 'test water' with some low priced items (below $10) by adding them to my cube, have some sales for these items but not as good compared to retailing at bazaars. Overall i didn't manage to cover my rent yet although there were some sales. Will be ending my lease very soon at the current shop & will observe awhile more before taking up another cube at 1 of their city area shop cos it's a different target audience there (but more relevant to my products). However traffic is lesser compared to my current cube location.

It's hard to tell if it's the product or the retail concept that affects the sales but we'll have to test water to find out. That said, of cos there's some $ risk involved and have to budget wisely before burning another hole in our pocket.

Do hope that anyone who have retail at these lockers in Toyoutpost/Hako are willingly to share your experinece here

crystal7

@babebe:
may i know what kind of products you are selling? and which branch do you means by city area?

i am currently selling facial mask at Hako JCube, but sales is not good, maybe due to crowd there mostly is student.

babebe

We're in the same boat

Mainly gift related items. Still considering raffles place.

meinteel

I would recommend push carts or to take-over/sharing of small kiosk. While it is financially heavier investment, I believe the return on investment is worth alot more.

Pushcarts and kiosks bring heavy exposure to your products. I think it is especially important for items that are not bought on impulse. I believe most individuals who care enough (for their face) to buy masks would not buy them off "unknown cubes".

Kiosks also bring about much bigger feeling of security for shoppers and greater shopping experience. All these bring up the prices of your goods and thus profit margin.

crystal7

you are right.. after read your comment i do think that join beauty bazaar maybe better for me.