How Successful are Pop-Up Shops?
Very. Although we may be biased, we’re feeding off the overall trend taking over the business industry so we’re not alone in thinking that developing a strong pop-up shop is beneficial in many ways for all sorts of retailers. When half of our consumer footprint will be taken over by a retail Finery filled with neighboring pop-ups and creative concepts, we make sure to keep our finger on the pulse of what is happening for businesses of all sizes. We’re providing dozens of retailers with a customizable space suited to fit their business needs, ensuring that the product is at the forefront and the consumer experience is a memorable one. But this pop-up trend isn’t something to take lightly and it’s not specific to markets either. Here are some valuable insights about the standalone brick-and-mortars that might help anyone looking for new ways to get their goods out there:
Makes You Unique
For brands who already have an established product and following, whether they have one store or a franchise, pop-ups provide a new way for consumers to experience a product they have become familiar with. A pop-up store might offer specific items or may speak to a new audience, but either way they provide something different than the average brick-and-mortar visit. It forces brands to work with the space they have rather than feel comfortable in a pre-designed space.
The Space Becomes Art
What eventually ends up happening with pop-up shops is that the spaces become works of art in and of themselves. Working with a different atmosphere pushes the product to be seen and experienced differently, not to mention providing options for interior designers to get creative with the way the space is built. Sharing a wall with another brand? Work together to blend your aesthetics and who knows what can come of that. Poles become hat racks, wires become plant hangers, and before you know it, your product has a beautiful new home away from home.
Test New Markets
When it comes to a large space filled with over 20 different brands and products, the crowd and demographic is bound to become a moving target. Not everyone coming to the hall will be looking for luxury swimsuits or handmade leather goods, but they might be inspired to check out those products they weren’t originally drawn for. Some brands have higher engagements, but pop-up shops allow these consumers to discover products they might not have known, increasing everyone’s audience just by association. Market research begins to expand, and it gives brands a better idea on who their products speak to the most.
Increase the FOMO
Many pop-ups happen on a seasonal basis, or they serve as a way for retailers to introduce new products in a way where those products become the main draw to their stores. Brands like Glossier have once-a-week pop-ups for new shades or for consumers to test new releases, which ultimately act as a powerful marketing tool as well. There’s also the pop-ups within a pop-up where brands can use a set space to showcase a collaboration with another brand or artist, continuing the “here today, gone tomorrow” feeling of a pop-up.
In the age of digital and online shopping, many retailers have begun to lose faith in the power of brick-and-mortars and physical shopping experiences. But a majority of shoppers still refuse to let go of stores where they can physically test the products. A push back to supporting handmade and artisanal products is currently happening and consumers are reverting to brick-and-mortars once again. But in order to complete with the convenience of online shopping, pop-ups are a great way to push yourself into getting used to providing a great in-person experience and to connect with consumers on a human level.