Pop-up stores continue to be an innovative, fun and effective approach for retailers in today’s ever growing competitive space. Whether it’s a store-within-store concept, a standalone pop-up or a traveling school bus road show, pop-up stores continue to win the attention of consumers, attracting both loyal and new customers.
For retailers, pop-up stores can be used to achieve various goals: testing out a new retail location, fueling sales or building brand awareness. Pop-up stores can also offer shoppers what online retail cannot; a chance to touch and feel product before they buy.
“The great thing about pop-ups that we find all across the board — whether it’s a pop-up store, pop-up restaurant or event — is that they have this ‘fear of missing out’ quality to them,” said Jeremy Baras, the CEO of PopUp Republic.
“Customers are attracted to exclusivity. They’re attracted to a ‘here today, gone tomorrow’ type of concept.”
Although pop-up stores can appear to be casual and spontaneous, they are not successfully executed without serious consideration and planning. A few things to consider when planning a pop-up store:
- Invest time to tell a story – Start early to save time and money, identify objectives and be sure to have resources (people) in place to execute.
- Pick your location – Finding the right neighborhood will lead to better traffic and is key to the success of your pop-up.
- Manage operations and make money – Using a mobile POS that integrates with your current systems will streamline payments and inventory.
- Spread the word – Make sure you customer base knows about your pop-up and is easily able to tell their friends.
- Follow-up – Don’t let the hype from your pop-up end. Collect customer information and build on those relationships.
So what’s stopping you from popping up shop?