According to studies, around 70% of all retail sales still happen offline, and of course, there is tons of value in having a physical space. However, setting up a full-fledged brick-and-mortar store may not be feasible for a small or medium business, particularly if you’re on a budget.
This is where pop-up stores can be useful! When done right, a pop-up store can help boost your brand’s visibility, helping you connect with existing customers and bring in new ones too.
What is a Pop-up Store?
Pop-up stores are temporary retail spaces that open for a short period. They are the perfect middle between B2C or B2B e-commerce platforms and brick-and-mortar shops. Pop-up stores are very versatile, and given the short-term lease, companies will only face a little risk if something goes awry.
A pop-up store can look like a regular store, but many brands use them to create a unique and engaging physical shopping experience to experiment with. The duration of a pop-up store can vary, depending on its purpose and goal. Some pop-ups are only around for a few days, while others stay for several weeks or months.
What are the benefits of a Pop-up Store?
Brand benefits
- Reach potential customers – a pop-up store in a location with high foot traffic allows a brand to get noticed by a new audience.
- Experience – pop-up retail can deliver a delightful short-term experience or reinforce a brand message with positive customer engagement.
- Market research – using promotions, events, or giveaways, a pop-up store provides the perfect opportunity to gain insight and better understand your target market.
- Launch a new product – a pop-up event is a great option to showcase a new product or range with a bang.
Customer benefits
- Opportunity to explore new brands and products.
- Pop-up stores are more likely to offer discounts and promotions than traditional establishments.
Type of Pop-up Stores
Firstly, you must determine your objectives for opening up a pop-up store. Is your main goal to generate buzz? Get to know your audience at a deeper level or do you want to drive sales?
The options below can help give you a headstart.
Event
Some brands like to incorporate events into their pop-ups. Events like press previews, classes, and speaking engagements are a great way to bring people together and showcase your brand’s story.
Experiential
If your objective is not to sell but to provide an experience then you can create a list of the activities that you’ll hold in the pop-up store. What will your guest be doing? What do you want them to see, hear, smell, and feel? Figuring out the answer to these questions can help guide your pop-up strategy.
Retail
The most common purpose of a pop-up store is to sell products. Whether it is to sell new products or clear stocks, just remember to choose a large enough space for your products, shelves, racks, and other equipment you require.
Now that you know what you need to start your pop-up store, you should start working on how to promote your event. Even though you might have foolproof marketing strategies that have built your online presence and sales, it does not guarantee real-life attendance at your pop-up store.
This doesn’t mean that you should stop carrying out your already successful online marketing techniques. Pop-up stores are more closely related to brick-and-mortar stores, that’s why traditional marketing is beneficial, this includes printed ads or radio advertisements.
Ready to launch your Pop-up?
Pop-up stores are not just some passing trend, they’re a proven store format that can undoubtedly drive brand awareness, strengthen customer relationships, and increase sales. But to achieve all this, you need a solid plan and you need to execute it in a way that it “pops”.
There is no reason why you can’t launch a successful pop-up store if you start planning now with us!
