POPABLE AND WALMART JOIN FORCES TO HELP SMALL BUSINESS RETAILERS GET BACK ON THEIR FEET AFTER THE PANDEMIC

Rhea-AI Summary

Walmart and Popable announced a strategic partnership enabling small businesses to rent pop-up retail space in Walmart stores across the U.S. This initiative allows small brands to engage with customers without long-term lease commitments, crucial for businesses recovering post-pandemic. Leasing agreements can vary from one month to a year, offering flexible options. Walmart's involvement emphasizes its commitment to supporting local economies and small businesses, enhancing their visibility during the holiday season.

Positive

• Walmart's partnership with Popable allows small businesses to access retail space, enhancing community support.
• Flexible leasing options can range from one month to up to a year, aiding small businesses in recovery.

Negative

• None.

HOUSTON, Oct. 31, 2022 /PRNewswire/ -- Popable, a pop-up shop marketplace platform connecting brands and spaces for short-term retail leasing, and Walmart, the largest national retail department store, announced today that they have entered a strategic partnership that will allow small businesses to rent retail space in Walmart stores across the country for short-term leasing. Small businesses will have the opportunity to rent out pop-up space in designated Walmart stores without being committed to a long-term lease.

Walmart partners with tech start-up Popable to offer small businesses pop-up shop opportunities inside their stores.

"The growth opportunities for emerging brands are at the heart of Popable's pop-up shop platform. We are excited to partner with Walmart to bring new brands to local communities while providing small business owners the ability to thrive with some great built-in foot traffic," said Scott Blair, the Co-Founder, and CEO of Popable. "For retailers emerging from a challenging year in the face of post-covid impacts ranging from rising economic concerns to delivery issues at the ports, pop-up retail could be a great way to move excess inventory."

Brands and spaces can both list on Popable's online website (https://Popable.com). Small businesses can then be paired with their local participating Walmart to connect and enter into an agreeable temporary leasing agreement. The timeframe of these leasing agreements will be predetermined by the small business and can range in time from a month up to a year but could grow to a longer-term agreement. The terms are decided and negotiated by the brands and spaces directly themselves.

"Supporting small businesses has always been a priority for Walmart. We are proud to work with Popable to offer local brands an opportunity to grow inside our stores," said the senior director of Retail services for Walmart, Darryl Spinks. "This is a great example of our focus on offering services unique to the neighborhoods we serve through our store of the community initiative."

Due to the pandemic, many small businesses across the nation severely suffered to the point where they had to close shop. Now, with this opportunity, several small businesses and start-ups will have the chance to bounce back in time for the holidays.

About Popable

Popable™ is a pop-up shop marketplace platform that connects brands & spaces for short-term retail leasing. Brands will find the qualified spaces, education, resources, community, and connections they need to grow, while retail landlords can easily find qualified retailers from a directory of thousands of brands to fill vacancies and drive traffic to their shopping centers. This is making retail more accessible for small to mid-size businesses looking to get their foot into physical locations. More information is available by visiting popable.com, on Facebook at facebook.com/popablehq, and on LinkedIn at linkedin.com/company/popablehq.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and numerous eCommerce websites under 46 banners in 24 countries. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.

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SOURCE Popable

FAQ

What is the partnership between Walmart and Popable about?

Walmart partnered with Popable to allow small businesses to rent pop-up retail space in Walmart stores for short-term leasing.

When was the Walmart and Popable partnership announced?

The partnership was announced on October 31, 2022.

What are the benefits for small businesses in this partnership?

Small businesses can rent space in Walmart stores without long-term commitments, allowing them to reach customers and recover from the pandemic.

How long can small businesses lease space in Walmart through this program?

Leasing agreements can range from one month up to a year, with options for longer-term agreements.

What is Walmart's commitment to small businesses?

Walmart emphasizes its priority of supporting small businesses, providing them opportunities to grow within their stores.