Editor's Note: Below is a brief excerpt from our Retail analyst Brian McGough's morning note Hedgeye Retail Direct. If you would like information on how you can access our institutional research email to firstname.lastname@example.org.
If you read one thing in this email…this should be it.
Game changing retail concept called Storr went live yesterday. Definitely give this article a read. It might succeed big time. Might go down in flames. But it’s one of the most innovative ideas I’ve seen in retail in a long time.
The crux of the concept is that it allows anyone – you, me, whoever…to open up our own retail store with three clicks. We put name brand items in our store, and our friends buy items that we think are cool, notable, relevant, trending, etc…
Each store owner (ie you) collects 15-25% on each sale – as the new shop basically disintermediates #oldretail without ever touching the merchandise.
The concept is geared towards Millennials and Gen Z who continue to seek out more personal and experiential purchasing options – and there’s no better ‘salesperson’ than a trusted friend or someone you worship on Instagram. I’ll fall out of my chair if this doesn’t catch on. Amazon should buy it.