Pop-up shops are all the rage, and, as a business owner, this is something to capitalize on. You’d be foolish because they are very much short-term ventures that produce a long-term financial benefit. You’d be foolish because they get businesses out of the doldrums of the office and into the real world, and customers love to see that. You see, you should never underestimate the power of the pop-up in business when it comes to your business. If you need a little bit more convicting, read on.
First of all, what exactly are pop-up shops
Pop-up shops, sometimes known as temporary retails or flash retailers, are quite simple in their premise: they are a type of shop that makes temporary use of a space. They provide businesses with a different angle in which to take their business. They also provide businesses with a chance to reach a group of potential customers they haven’t reached before.
Where could you find such a shop
You will find these types of shops in areas that are rife with shoppers, such as high streets or malls or city centers. You will find them in such areas because of the vast foot traffic as the higher the traffic, the more chance of custom.
For how long do they usually ’pop up’
The lifespan of a pop-up shop varies. Sometimes, you’ll see a pop-up shop remain in one place for up to three months. Other times, they’ll be there for one day and one day only. This is because they are the type of venture that reaches customers fast and direct, and if that can be done in one day, why would a business pay for their pitch longer than they have to?
As stated, the main benefit of the pop-up shop is to reach an audience that has been, before now, unreachable for a business.
Another benefit that it gives businesses, especially when they stay popped up in a pitch for months on end, is the chance to build a rapport with the local community. This is a benefit because it means businesses can forge relationships with new people who they can then turn into fully-fledged customers of theirs in the future.
How do they fare against e-commerce
E-commerce, or online shopping, is, of course, the way shoppers shop these days. But, as is always the way, when a horde heads in one direction, a gap opens elsewhere. In this case, the gap has opened on the high street, and pop-ups are the perfect place for businesses to test the waters before they jump into a commitment with the pitch renters. As well as this, because pop-ups are, at their core, physical, visual stimuli, they garner far more attention than online shops do. Well, a 10×10 pop up canopy is always going to fare better than a hidden website, ads or no ads.
Pop-ups market themselves, whereas online shops have to run marketing campaigns to get on screens. Pop-up shops are not to be underestimated, because their customer-drawing power is huge. So, if you own a business, make sure you give the pop-up a go.