RADIO CAB RETAIL INCUBATOR
Portland OR
American consumers are losing interest in the typical shopping mall and the model is dying out. Large retail stores are losing business and there is a steep decline in numbers of their brick and mortar stores. This creates a vacuum in mall spaces and local businesses lose access to physical retail space.Access to physical store space is vital to small businesses. Research shows that 70% of consumers will spend more in a physical store when compared to shopping online. Physical retail is not dying, the current model is.
To protect local businesses and fulfill consumer needs, an incubator model in the Radio Cab Building is proposed. This model would look to include multiple small, local businesses thatmay not have the means to have a physical retail location on their own.
It would also include maker spaces for those who do not have the personal
space to create their craft. The marketplace would emphasize craft and
design conscious businesses and act as an incubator to kick start their brick
and mortar stores. The retail businesses would have an emphasis on home goods items so as to have a cohesive feel throughout the shopping experience. The businesses would use the space to begin their physical retail brand and build a customer base before moving to a retail space of their own.