If you are a retailer, regardless of where you generate the bulk of your sales, you have probably heard of the pop-up shop concept. The debate as to whether pop-up shops are a timeless classic with a new name, or a trend that will come and go may never be solved. But there is no doubt that there are many benefits that come with opening a pop-up shop. There are also steps to take to ensure the success of your shop, such as display and mannequin rentals. But what is a pop-up shop, and how can you benefit from it?
What is a Pop-Up Shop?
A pop-up shop is when a retailer utilizes space to sell goods temporarily in a physical location. This could mean renting a full store somewhere for a month or longer, or setting up a mini-store inside another store for a day or two. There are many different varieties of pop-up shops because the definition of a pop-up is relatively broad.
What Are the Benefits of Pop-Up Shops?
There are several benefits to opening up a pop-up shop whether your company already has a brick and mortar or is a strictly online retailer.
Testing new things. You could use a pop-up shop to test a new market or new line of items to see what sort of sales you can expect. If you’re thinking of expanding, a pop-up shop is a great way to test the expansion before committing.
Scarcity shopping. A pop-up shop also has an element of scarcity built into it. You could use it as a way to clear out extra stock or generate excitement around a particular item or line of items.
Brand building. If you are an online-only retailer, a pop-up shop can be a great way to physically connect with your customers, which improves the relatability of your brand. If you open a pop-up inside an existing retailer with a brand message that resonates with your own, then customers will associate the two and connect with your brand further.
Decreased costs and risks. Setting up a temporary shop leads to rents that can be much lower than standard rents. Additionally, retailers are not locked into a lease, so if the store doesn’t do well, they can move on without incurring fees for ending the lease early.
If you have decided that opening a pop-up shop may be an excellent option for your store, be sure to check back with us. Next week’s article will dig into the steps you need to take to run a successful pop-up shop.
Are you looking to open a pop-up shop in the Boston, MA area? Joslin Displays can provide you with display and mannequin rentals to help make your store a success! Visit our website for more information or give us a call toll-free at 1-800-325-1030!