The Rise Of Pop Up Retail
Ever wanted to start your own versatile and phenomenal pop-up shop? A meteoric, frenzied trend is taking retail trade by storm and transforming the retail landscape of businesses as we speak...and it's time your business rose to the occasion.
Last month, online sources such as The Huffington Post, TimeOut and The Sydney Morning Herald reported on the official opening of the infamous Kanye West 'Yeezy Pablo' Pop-Up stores in Sydney and Melbourne. For the Australian Kanye West Fans, it took over five hours to enter the pop-up merchandise store, racking up more than 1000 people at the Brunswick St, Fitzroy pop-up in Melbourne.
The concept of Pop Up Retail is abstract - hence why a plethora of visitors grow curious and fond over the idea of exclusivity. This relatively low-cost and low-commitment trend is becoming the most popular in the Australian retail industry. The Sydney Morning Herald reported that Founder Marianella Watman of 'Pop Up Brand's' estimated there are billions lost in sales by bricks and mortar stores to the internet.
The Pop-Up shop is a newly founded cutting-edge and tactile strategy for companies to recover lost sales; and a prime opportunity to pursue creative risk, generating word-of-mouth buzz, and the ability come up close with customers that were, otherwise, unaware of your brand.
"A way to attract potential customers by providing opportunities and innovative ways to reach target markets and as they continue to rise in popularity, their numbers could potentially settle in the thousands" - Westfield
Like the Food Truck, it offers customers a unique and individualised brand experience in immersive and diverse settings and locations. It works especially if you were an online retailer on the journey to moving away from the computer screen and on to a more personal touch. That's not to say that digitilisation is becoming obsolete; in fact, social media is a major driver for pop-up stores to create a sense of urgency and alleviating interest for the users of Facebook, Instagram and more. Just like your company's Instagram profile, your Pop-Up shop has to be just as visually appealing, and offering something 'different' to the traditional retail space.
So what are the secrets of success for Pop-Up Stores? Commercial Real Estate outlines four main drivers of success for your short-term leased, temporary store to become a fixated and permanent icon in the retail landscape:
- Pick a high-traffic location that fits your brand.
- Promote via social media, posters and flyers – it is important to let people know where you’ll be, what you offer and create a buzz.
- Ensure your store has a welcoming appearance, eye-catching signage and is well stocked and staffed.
- Have regular opening hours.