Pop up shops stormed on to our high streets a few years ago. What some people thought would be a flash in the pan, a temporary answer to the temporary glitch in the economy, have stayed. Even as the economy looks to improve, the pop up shops has not quite seen its day just yet.
And no surprise when you consider the top 5 reasons why brands – established and start-ups – gain when they create a pop up shop experience for their customers. With branding and marketing material available at competitive prices from printers such as Colour Graphics, any sized business can successful revitalise sales and garner interest in their products with a pop up store.
And the future is looking rosy for pop up shops and here’s why:
1. Cheap & Competitive
There is no denying that pop up shops have the financial edge in the competitive retail market place as the overheads can be incredibly low. Empty shops on the high street are not good for the community, the landlord or the local council thus, many landlords are being encouraged to rent out shop space for short periods of time, and at competitive rates. As a result, many local authorities are also offering significant discount on business rates too.
But, pop up shops are not just a rent a shop for 3 months. Many shop owners and brands are realising that renting a small amount of space within their shop is a great way of increasing foot fall and impact on their brand. Choosing their in store partners wisely, with products that compliment theirs, and in a similar price is a great way of sharing the rent for a while too. Known as brandscaping, it is about creating partnerships with like-minded brands that are not direct competitors.
2. Combine a deadline and events to create an experience
If you think that pop up shops are just about flinging open the doors and waiting for the masses to arrive, think again. The concept has slightly more class than that.
Pop up shops are an experience, as well as a great selling vehicle to shift surplus stock, or have a warehouse clearance. Telling the masses you are only going to be in town for x number of weeks or months is one way of getting attention.
Adding events to your store – anything from daily competitions to win a fabulous treats to a glitzy fashion show – is also one way of creating a buzz around your brand and pop up store.
The beauty of the pop up store is the fact that it can also be nomadic. There are many agencies across the country that specialise in gathering together all possible venues and locations for short term leases.
And so, if you have always wanted to try your brand in a big city then now is your chance. Or, it may be that you want to take your brand to further, outlying areas. The movability of the pop up shop is something that many established businesses enjoy, just as much as a new start up hedging their bets. The very fact that there is no buying in to long term contracts is revolutionising the high street, making it a far more competitive place.
The movability of the pop up shop is one facet of a business model that is essentially versatile beyond the wildest dreams of retailers only a few years ago.
However, this versatility moves beyond the being able to move from town to city and back again. The nature of the shop is such that you can spend as little or not as you want on the interior décor of the shop. Many brands have created a whole sub-brand, tagged on to their main image when it comes to the pop up store experience.
In this case, although the location and timing of the shop is temporary, the range of signage and posters that can be used to deck out the interior is staggering.
And herein lies the secret of success of the pop up shop – the creative nature of a business model with which you can be as different, unique and creative as you want. There have been some outstanding successes of established brands creating a human face to their company – take a look at the Google shop on Tottenham Court Road. Rather than taking a punt and possibly losing money on setting up their own pop up shop, they piggy backed with another major retailer and reaped the rewards.
The creativity behind pop up shops could be the very thing that saves the high street from further decline. How we shop has changed and it won’t be changing back any time soon. Thus, the high street needs to morph and find a new niche.