It’s a scary question for all brands just starting out, “What’s next?” You’ve had a successful run with online sales but it’s time to think about expanding and growing. Then the headaches come. “How much will rent be?” “Can I afford a place with a large footfall?” “What if I pick the wrong neighbourhood?” There are a million ways to go wrong and run your successful business into the ground. A pop-up shop is a great way to expand your business!
What are the benefits to doing a pop-up shop?
- Save rent money – Pop-ups allow you to rent out a space for a temporary period of time, saving you money by not being locked into a contract. With a cheaper rent, you’re able to spend your budget on creating a unique experience for your customers. Both brand and landlord can benefit from a pop-up store. Filling a location that isn’t making the landlord any money can be very helpful while they look for a more permanent resident.
- Test out different locations/New variety of customers – Not all neighbourhoods are created equally. Researching locations and neighbourhoods is always helpful but sometimes reality doesn’t reflect the google description. Your hipster brand most likely won’t fit in too well in the family oriented neighbourhood. Aren’t you glad you only rented the venue for the weekend! What better way to test the perfect location than to experience it first-hand?
- Shop sharing – For those brands that don’t need a full space, shop sharing can be a great option. If you have a small amount of inventory, a few shelves or a corner of a store is more than enough space. Shop sharing can also expand your customer base by introducing your brand to people who are already shopping in your shop share location. You may also find the perfect brand pairing. Your wine tastings may be just what the customers in a specialty olive oil shop are missing. Pairing brands can help you find synergy with other companies and could lead to future projects together. Shop sharing is also great because you have built-in employees. Being present in the store every day isn’t always a feasible option, but through shop sharing there is someone ready to run the store.
- Meet customers in person – Emailing can only get you so far when it comes to getting to know your customers personally. There’s value for brand owners to have face to face interaction with customers and allowing those customers to interact with the products in a way they can’t experience online. In store shopping is all about the human experience. Ninety-four percent of total retail sales are still generated in brick-and-mortar stores and having a physical presence could help drive business to your online store. It’s a great way to market and advertise your online business in a simpler and less expensive way than online advertising.
- Create an urgency – What makes you click “order cart” faster than seeing the sale ends at midnight or the store is almost out of stock? A temporary shop creates that same urgency to purchase or attend. Nothing is more exclusive or sells tickets faster than having a supper club available for just one night. Customers are experiencing a once in a lifetime event and creating that fear of missing out is sure to bring crowds.
Wondering how to get started? We Are Pop Up provides the ability to book full locations, shop share locations, and enables brand-to-brand communication. Register your brand or location at www.wearepopup.com and get started on the pop-up of your dreams!