Good Goods, a store that opened just before the holidays last year, aims to connect new brands with customers looking for interesting quality products.
Somewhere between a bricks-and-mortar store and a seasonal pop-up, the first of what might be multiple Good Goods was located on a busy New York City street in SoHo. Co-founders and CEOs Eric Ho and Rosa Ng want to have at least one new Good Goods open in coming months, possibly in New York, Washington, D.C., or Chicago. By year’s end, Ho’s hoping for a stable of Good Goods popping up wherever the market and economic dynamics are fertile and promising.
Both Ho and Ng have backgrounds in opening what Ho describes as “flexible retail spaces that give commercial real estate access to lower entry brands within underused store fronts.”
The store typically carries 70 to 80 brands, each paying a fee based on both the number of products being featured as well as their price points. The product mix, which currently includes fashion, jewelry, accessories, ceramics, furniture and skincare, changes every three to four weeks.
Good Goods supplies merchandising units and trains sales associates to speak knowledgably about each brand. In addition, Good Goods shares select customer marketing data with its brand customers, such as bestselling products, colors or styles, Ho says. He expects some 25 to 50 percent of the featured brands to remain in the product mix.
Moving forward, “our strategy is [to be]flexible and agile,” he says, “so we can access commercial real estate in a strategic way.”
New York City
Co-founders & CEOs: Eric Ho and Rose Ng
Liz Parks is a Union City, N.J.-based writer with extensive experience reporting on retail, pharmacy and technology issues.