New trend alert: pop-up shops
Pop up shops are temporary spaces set up by retailers for a length of time spanning anywhere from one day to multiple months. You will often find pop-up shops in areas with a high level of foot traffic such as city centers, malls and event spaces. In America, the first pop-up shop concept was created by L.A. company, Vacant (check them out for some inspiration!), in the early 2000s. Since then, pop-ups have grown in popularity and today you can find a pop-up shop for almost any type of consumer good.
Keep reading to learn why pop-up shops are so popular, who targeted and the types of companies that employ them as part of their retail strategy.
“Here today, gone tomorrow” is the motto of the pop-up shop concept. These temporary retail spaces give retailers more flexibility than a typical brick and mortar store. This style of retail is especially useful for new product launches and to test out new markets, making pop-up shops are great for market research.
Pop-up shops are also cheaper than a brick and mortar store because of the small size and less costly materials. So instead of investing in a lease you can test the waters before you commit or, just set up a smaller version of an already brick and mortar shop for a few days to raise brand awareness.
Holidays and events are another appeal for pop-up shops. The months between Black Friday and Christmas represent 30% of annual sales for some retailers. This means more people are out shopping so having a physical store is ideal during this time. Pop-up shops are great for those retailers who are solely online or that don’t have a shop near a heavy foot traffic area.
Pop-up shops are a great way to connect with customers in a creative way while keeping costs low. Pop-up shops create a sense of urgency, giving the “get it before its gone” feel to consumers.
The consumers who visit pop-up shops come in all different demographics. However, across the board, pop-up shops are a great way to grab the influencers who are looking for the next big thing. It will also help you accumulate the business of those who prefer to see, feel and try on the product before they buy.
Pop-up shops have the ability to benefit most types of business. Small or large, the “here today, gone tomorrow” concept encourages consumers to purchase your goods. Pop-up shops are not just about the shopping, it is about the experience.
Pop-up shops are a great way for local artists and makers to share their work, especially around a farmer’s market or event. Showcasing local products in these locations will resonate well with the consumers.
Food trucks are another form of pop-up shops. One day they may be parked outside a busy business district, the next outside a park. Food trucks are a great way to create brand awareness while also testing reception to new menu options for your restaurant.
Large retailers like Target have even dabbled in the pop-up shop scene. Back in 2015, Target occupied a large shipping boat in Manhattan for Black Friday. This created a large amount of buzz for the discount retailer, which was impressive as New York is the retail capital of the nation.
Pop-up shops can truly benefit any type of retailer. They can be any shape or size and remain just as creative and engaging.
Make sure your pop-up shop is well designed by checking out fabric printing services.