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Quicken Uses Virtual Retailing

Virtual storefronts?

Detroit is well known throughout the country as a decrepit and dangerous city. The Cities economy has taken a lot of hits in past decades with many stores closing their doors leaving many parts of the city vacant. This could change… well sort of.

Quicken Loans has recently become one of the larger companies to enter Detroit and they are attempting to revitalize the city and bring both people and money back to the once great city. Dan Gilbert the founder of Quicken Loans has come up with a new idea to help with this process called, “virtual retailing”. What is virtual retailing one might ask, but it is a simple idea to help improve the quality of the city. Quicken loans in combination with Fat Heads, which is also owned by Dan Gilbert, is acquiring vacant stores around the Mo Town area of Detroit and placing large QR coded advertisements on the windows. This allows a company to place large pictures that include many products from their lines where a store would have been and also placing a QR code allowing people to go right to the store’s web page. Quicken Loans is hoping to be able to do this to most abandoned stores in the Detroit area with the belief that its cheaper than stocking a retail store and a good marketing campaign for businesses. Currently Quicken Loans is attempting to get some larger online businesses to join the campaign like and They believe businesses like this can be in a traditional brick and mortar location, but this is a cheap alternative and helps get their name out there. Currently some of the windows are being occupied by a few luxury watch manufacturers.

Why this is important:

  • Helps companies advertise and seemingly be a store without the costs of inventory and staff
  • Simulates window shopping, but with mobile technology
  • Interactive advertisements
  • Idea helps to revitalize areas with many closed stores