Small businesses can now rent retail space at Walmart stores across the country.
Through a new partnership with pop-up store marketplace platform Popable, Walmart is now offering short-term leases to small businesses that don’t want to commit to longer contracts.
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Here’s how it works: After a business lists its offer on Popable’s website, small businesses can then be matched with their local participating Walmart to connect and make a nice temporary rental deal.
According to Popable, the length of these leases will be predetermined by the small business and can range from one month to one year, but could evolve into a longer-term contract. The terms are decided and negotiated by the brands and spaces directly themselves, Popable added.
“Supporting small businesses has always been a priority for Walmart,” Darryl Spinks, senior director of retail services at Walmart, said in a statement. “This is a great example of our commitment to providing unique services to the neighborhoods we serve through our community initiative store.”
Scott Blair, co-founder and CEO of Popable, added that he looks forward to partnering with Walmart to bring new brands to local communities while providing small business owners the “ability to thrive” with a “great integrated pedestrian circulation”. “For retailers emerging from a difficult year dealing with post-covid impacts ranging from growing economic concerns to port delivery issues, pop-up retail could be a great way to move excess inventory,” Blair said.
The news comes as the retail giant looks for new ways to expand its business. This month, Walmart announced a new social commerce platform designed to be a one-stop-shop that allows influencers to easily monetize the retailer’s purchasable products.
Walmart Creator is currently in its beta phase, but was intentionally released before the holiday season. The platform will continue to evolve before launching fully in 2023, according to the company.
In September, the retailer launched the next phase of its virtual try-on technology with “Be Your Own Model”. The feature is now available on more than 270,000 items in Walmart’s brand and private label portfolio.
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