The pop-up shop is here to stay – first brought into the public’s conscience in the noughties, pop-ups aren’t a throwaway concept but a key part of a retailers’ core strategy. It isn’t just large international companies that flock to the high street with temporary stores, independent retailers and start-ups all see the benefit of “here today, gone tomorrow” shops.
What is a pop-up shop?
Pop up shops are always temporary in nature – whether it’s only around for days, weeks or months. This temporary nature allows retailers to use a physical space to create a long-term, lasting impression with potential customers.
Pop up shops allow retailers to tell a brand story, deliver an immersive experience and connect with their customers on a level they might not have been able to before.
What are the benefits of a pop-up shop?
- Test a new revenue stream
In a time when retailers are closing stores, rents are rising, and online shopping is touted as killing the high street, a pop-up shop is a great way for retailers to “test the waters” in a relatively low-cost way.
- Engage customers offline
Despite the impression that online shopping is taking over, a recent report by I-AM found 74% of 18 – 35-year olds still prefer physical stores. Launching a pop up is a great way to engage shoppers offline, encouraging them to interact with a brand and products – something they wouldn’t fully be able to do online.
- Create urgency
People hate missing out and a pop-up shop creates the urgency required for customers to act. The limited time frame that a shop is there encourages shoppers to engage with a brand and products in a way retailers might not have experienced before.
- Market around trends
Trends are like the seasons, they change as quickly as they arrive. Using a pop-up shop allows retailers to market around a trend for as long as it’s around – think about the pop-up shops you see around September – October selling Halloween products and the stores selling calendars in December. Using this same concept allows retailers to open a store at the peak of a trend and move on before it’s over.
- Reach your customers
Pop-ups allow retailers to go where their customers are – reaching a demographic they might only have access to online or when they make the journey to their physical store. Choosing a location is important and using existing customer profiles allows retailers to pinpoint where they should “pop up”.
Pop-up shops not only have the potential to create a buzz around a retailer’s brand but also bring them new customers, make the existing ones more loyal and increase their profit.
Thinking about launching your own pop-up shop? Speak to Bluestones One’s Retail and Merchandising team about how the team can help with all your merchandising needs.