This year pop ups are hitting tipping point in the UK and US. They’re becoming everywhere, seeping into retail ecosystems, marketing and media buys, urban planning and economic development strategies. Let’s take a look at the most important numbers driving the swiftly-growing industry into a mainstream staple of 21st century life – the only pop up statistics you need to know.
92% of us trust our friends’ recommendations over ad campaigns. The last 8% was likely just clicking through the survey as fast as possible to win an Amazon gift card. People matter more than ads – it’s a statistic that keeps showing up yet doesn’t ever have to be measured again. People like and trust people more than anything anyone can produce online. Since at least 92% of us would rather talk to, hear from and learn from friends, brands have no choice but to be more friendly. Which means, the GOI (growth of investment) in creative retail and pop ups will be massive.
In the UK, pop ups contribute £2.3 billion a year to the economy, with 12.3% revenue growth in 2015 and 26,000 employed in the industry. In the US, our friends at Pop Up Republic value the national industry at $50 billion, which is 16% of the online retail market. More than enough dollars to bury questions like “are pop ups a trend?”
Creativity is an urban economic driver and recruitment tool. A recent Economic Development Quarterly study ties 1.1% growth in “knowledge class” employment to the presence of a metropolitan performing arts center. For cities with two types of PAC (the good kind of PAC), the increase is 1.5% and with three types it’s 2.2%. The short of that statistic is: If you want to recruit smart, creative people, do creative things in real-life space. Creativity means doing something, anything, differently. It keeps our cities fresh and our imaginations satisfied. Pop ups do the same.
79% of brands say they executed more event and experiential programs in 2015. 65% directly correlate experiential marketing to stronger sales. 84% of companies with $10 million+ marketing budgets are increasing their experiential focus.
Drake opened his first US store in LA after one in Toronto. If this guy is launching stores, it puts the whole world on a binary: You’re either with Drake or you’re against him. Don’t bet against Drake.