CA-Cube is a new concept in retail selling that would allow small and start-up businesses to enjoy exposure in big and upscale malls and shopping centers. Small vendors will not need to have a full-scale outlet wherein they could sell their products. CA-Cube allows them to rent only a very small space in an outlet that would be shared by several small vendors. Such a concept would benefit small businesses in many ways.
Cost benefit
A most important benefit to customers would be cost. Vendors will not need to set up an entire retail outlet. After all, their business might be very small and do not have many products so they will not really need a very big space. With CA-Cube, the will need to spend only for the space they will occupy at CA-Cube. In addition, they will be able to save on labor costs as CA-Cube will have its own staff manning the stores who will have to learn about the vendors’ products.
Other savings
Vendors will enjoy other savings in terms of planning, maintaining and managing their fully-owned outlet or store. They will even be able to save on planning and designing a store layout. All they will need to take care of would be the particular space they would be utilizing that may require certain marketing materials from them. CA-Cube would be taking care of all the planning, maintaining and designing the store’s operations. Additional services that CA-Cube would provide include tracking shipping, receiving, reporting inventory levels, tracking sales and store traffic, and managing cash receipts and disbursements to vendors.
Market exposure and penetration
Immediate market exposure and penetration is another benefit. Even if a vendor has the budget to pay for a whole retail store space, major or high-end shopping centers or malls may not allow small or new businesses to establish operations in their areas given the vendors’ small size and lack of brand recognition. CA-Cube would provide vendors the opportunity to be immediately available at prestige shopping centers. This in turn would help vendors in their product image building activities as presence in certain shopping centers are important to this.
Free advertising
Another benefit would be the exposure and inclusion in CA-Cube’s own advertising and marketing programs that would cover both traditional and non-traditional and new media. Vendors may be included in the broadcast, print and internet advertisements and news releases of CA-Cube. Vendors may also enjoy presence in various trade activities that CA-Cube would be participating in.
Surely, CA-Cube’s own marketing efforts would also benefit vendors. CA-Cube would be producing its own brochures, maintain a strong presence in the internet, participate in trade fairs, and conduct periodic in-store events. These efforts would increase CA-Cube’s own brand awareness and recognition as well increase foot traffic which would in turn increase sales of all vendors in CA-Cube. CA-Cube’s continuous efforts to maintain an inviting store-front and a pleasant shopping environment would help a vendor in its own promotion and image-building campaigns. Even CA’s marketing efforts to attract new investors and vendors would also help in increasing vendors’ brand awareness and recognition.
Of course, CA-Cube cannot guarantee nor promise great sales to prospective vendors. That would be the product of the vendors’ entire marketing program. However, presence in CA-Cube’s outlets and marketing collaterals and programs would already strengthen vendors’ own marketing activities. Moreover, the immense savings that vendors would enjoy would provide the funds to divert to other promotional activities and even return to the vendor as additional profits.
References
myCube (2010). myCube information pack for prospective tenants. myCube. Retrieved 20 Jan 2013 http://www.mycubeshop.com.au/Leasing_opportunities_files/Information%20Pack%20for%20prospective%20tenants.pdf
