Neighborhood Goods’ fresh funding makes direct-to-consumer stores look, well, good
It’s a beautiful day at Neighborhood Goods, a department store concept for direct-to-consumer brands.
Why? As TechCrunchreports, the Dallas-based startup just raised $11m to expand its network of digital-age department stores.
Neighborhood Goods thinks retail’s death was exaggerated
Sure, traditional brick-and-mortar stores may have struggled in recent years. But online brands with high online engagement can do well by offering “experiences” — and merchandise — in physical spaces.
Neighborhood Goods’ Plano, Texas, flagship store provides retail space for Rothy’s, Dollar Shave Club, and Stadium Goods, giving these Instagram-forward brands a chance to connect with their fans — and, of course, sell them stuff — IRL.
It works like this: Brands launch extended pop-up shops, where they host events and sell their wares. Because there’s no long-term rental commitment for these brands, there’s an ever-changing roster of shops for consumers to explore.
It’s not the only Brick-and-Mortar 2.0 on the block, either
Another IRL retail startup called Bulletin connects up-and-coming retailers with female-founded breakthrough brands across an array of verticals, letting brands run on consignment to test their products.
Meanwhile, on Manhattan’s Far West Side, the Hudson Yards mall boasts a “Floor of Discovery,” which rents physical space to “digitally native” brands like M. Gemi.
Next up? The Goods is going to more ’hoods
Neighborhood Goods plans to expand to new retail locations in Austin, Texas, and NYC.
The company also plans to build out brand-partner incentives by investing in back-end analytics and data on activations.
And, on the consumer side, it will build features for online browsing and in-store pickup … in essence, taking shopping back to the digital realm.