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Ann Arbor, 2024.01-2024.05
Forth Spaces
Forth Spaces aims to create a digital tool that connects local business owners through pop-up events. We work to energize existing spaces and bring Michiganders together.
Problem space
Research on Michigan displays the role of community in retaining residents, with many staying due to family and friends, while others lack such ties. Despite being the 14th largest economy, small businesses face challenges establishing roots. The key design challenge is organizing and defining the information hierarchy to support informal community programming and diverse stakeholders.
Disconnected
community
Sense of Belonging
Lacking
sense of belonging
“Access to community activities is important [to me]”
“After being here for about 6 months , I haven't yet gotten a sense of belonging here”
“Community is the most important to me when deciding whether to stay in my current location or move”
“Building a sense of community and network”
Declining
businesses
Underutilized
space
Many businesses are losing hope about keeping their doors open long-term, especially after the pandemic. Stores feel more empty than they used to be.
Kevin Bregola who feels quote “up against the ropes” and “in competition with mega online retail spaces like amazon.”
Spaces feel empty because they literally are: these vacant spaces unfortunately add to the false mentality that many Michigan places are “dead.” But, when considering underutilized spaces, declining small businesses, and a desire for belonging, we find a unique opportunity space for something new!
Opportunity space
We’ve identified our opportunity space as pop-ups, and how they can transform empty spaces into thriving hubs for of activity.
Pop-ups offer a dynamic solution to the problem of empty (underutilized) storefronts. With their flexibility and adaptability, pop-ups have the power to transform underutilized areas into thriving community hubs, fostering connections by creating temporary experiences that engage both businesses and customers.
Pop-ups stand out in the retail sector dominated by major chains and online shopping because of their informality and authenticity. They represent a shift away from traditional retail trends, drawing the interest of younger consumers who are looking for unique experiences.
7
th
Independent sellers are massive economic driver. According to Statista, Michigan is the state with the 7th largest amount of vendors registered on Etsy (one of the nation’s largest online platforms). These sellers offer great value with their niche products that follow recent retail trends moving away from mass production
80
Report from Capital One states that we unlock a pop-up industry that generated around $80 Billion in annual revenue in the United States just last year and is projected to grow to $95 Billion by 2025.
billion
$
16.8
$/ft2
CoStar states that the monthly average rent for retail spaces in Michigan at $16.82 per square feet.
Proposal
Fourth Spaces aims to create a digital tool that connects local business owners through pop-up events. We work to energize existing spaces and bring Michiganders together.
Fourth Spaces makes it more accessible for more businesses and sellers to feature their products in physical storefronts. As they continue to take advantage of this digital platform, they create another revenue stream for their previously restricted “e-commerce” small business that should help them one day occupy a vacant space themselves.
For example, think about the food trucks, in just a few short years, turn into restaurants and scale their business. Fourth Spaces can have the same catalyzing impact for thousands of independent sellers across the state. An economy with pop-ups is dynamic and allows for unique business engagements that interconnects physical and digital businesses.
Value Proposition
Fourth Spaces is an economic engine builder.
The small businesses who lend their spaces generate increased foot traffic. The independent seller now has a physical storefront and free digital promotional vehicle through our digital platform. and community members get to activate their existing neighborhood, spend money in local businesses.
This entire ecosystem is encouraged by Fourth Spaces and the mutually beneficial value provided for all entities involved.
Platform
There are three interfaces for three users:
Casual Users, Pop-up Planners, and Storefront Owners.
For casual users, the mobile interface allow them to browse nearby activities and register for events.
For Pop-up Planners and Storefront Owners, the website interface provides clear guidance for adding events and offering spaces.
Impact
Financially, pop-up shops can be a great way to boost revenue. In fact, according to Storefront, they can often bring in 20-30% more revenue than a traditional brick-and-mortar store.
Fourth Spaces also serves as a stepping stone for pop-up providers aiming to transition into permanent storefronts. It assists in expanding their networks, provides guidance on navigating permits, and helps build a loyal consumer base.
strengthen network
navigate permit experience
build consumer base
Imagine the many applications for this service. Whether it is one of the neighbors finally being able to sell her homemade sweaters or a teen curating his art gallery. Even better, brick-and-mortar storefronts can partner with one another and host unique pop-up events as well.
Pop-ups activate communities and help create a more vibrant Michigan!
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