You may have seen shops in your local shopping centre arrive one day and disappear after a few weeks or days and wondered what that was? It was a pop-up shop. According to Shopify, a “pop-up shop” is a short-term temporary retail event used by brands to create a long-lasting impression on their current and potential customers. So, why should you think about having a pop-up shop?
1. Connect with customers offline
When you set up a pop-up shop you can cultivate a relationship with your loyal customers and you can also start to engage with new potential customers who may become customers because of your pop-up shop. It also gives your customers the chance to touch and experience your product.
2. Test a new market
Some brands use pop-up shops as a temporary way to test how retail will work for their product. They may also introduce a new product through the pop-shop experience.
3. Move stock
Pop-up shops can also be used by brands to get rid of old stock and also get ideas for new products through their interaction with their customers.
4. Educate the customer
If you have a product which needs to be demonstrated, then a pop-up shop would be ideal. You will be able to explain your product to early adopters and help to make your product more part of the mainstream ideas. This is especially helpful for a product which is brand new to the market.
5. Sell merchandise around a season or a holiday
If you sell a product which is particularly popular around a certain season or holiday then you may consider invest in a pop-up shop..
6. Creates an idea of scarcity
Because of the temporary nature of a pop-up shop, consumers are more eager to purchase a product because they don’t want to lose out on the opportunity of not having a limited edition product. Furthermore, this is emphasised if the product can’t be found anywhere else.
7. Generate brand awareness
Many small businesses use the pop-up shop strategy to increase brand awareness. By being situated in a retail space, your brand is exposed to more consumers and potential new ones you didn’t know might be interested in your product.
How do you set up a pop-up shop?
Now that you know the clear benefits of a pop-up shop how do you go about setting one up.
STEP 1: Define your goal
Though there are many benefits of launching a pop-up shop, but here are three distinct goals of a pop-up shop:
- Revenue generation
- Brand awareness
- Customer engagement
You may be interested in all of these goals for your small business, but it is important to isolate the primary goal of your pop-shop.
STEP 2: Workout your budget
How much are you willing to spend on your pop-shop. Aspects to consider are:
- point of sales system,
- window decal,
- inventory and marketing to name a few.
STEP 3: Scout a location
Try to find a location which is situated where your customer base is. It is important to know what type of rental agreement you are signing when you chat to the landlord so that you know what you can do with the space you are renting. It is also important to understand the timelines associated with putting up and breaking down your pop-up shop.
STEP 4: Create a buzz
When you have finalised the location, it is time to create a stir on social media around the launch of the pop-shop. You can also hand out flyers in high feet traffic zones to get people to check out your pop-up shop.
With these steps you could be well on your way to creating your pop-shop.
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