What is a Pop-up Shop?
A pop-up shop, also known as pop-up retail or flash retailing, is a trend of opening temporary shops and sales spaces that “pop-up” for a short period of time. Rather than taking on a long-term lease agreement, a shop or space is leased for a shorter period, anywhere from 1 day to 1 year.
Pop-up retail has been around since the late 1990’s and has been used by large brands that saw the potential of creating short-term experiences to showcase their products. The concept has also been embraced by small and medium sized independent retailers as a way to promote their products and achieve customer discovery.
Pop-up shops are now used to sell a huge range of merchandise ranging from art, clothing, craft and excess goods to seasonal merchandise such as Halloween costumes, Christmas gifts and decorations.
What are the Benefits?
There are lots of benefits to leasing a pop-up shop:
- Engage with customers – personally interact with customers to understand how your product satisfies their needs;
- Increase brand awareness – introduce new customers to your products and brand experience by leasing in high traffic areas like shopping malls;
- Sell more – while on-line retail purchases are growing, an estimated 90% of purchases are still made in stores. A lot of customers want their items right away and may want to save on shipping costs;
- Test your market – try out new products or new locations without being tied into a long-term lease;
- Let customers experience your products – customers want to see or feel your products in person, especially if you sell your products on-line. Tap into your mailing list and let your customers know where you will be;
- Cheaper rent – short-term leases can come at an overall lower cost compared to long-term leases, lowering your fixed costs and complementing your other sales channels.
Where can I find spaces to lease?
You are in the right place! Pop-up shops and spaces are typically offered by shopping malls, markets and individual store owners. CasualLease.com has many properties available for short-term lease in your area. Go to CasualLease.com and search on-line to book your space today.
iMedia Connection – “Why 92% of retail purchases still happen offline” by David Rekuc blogs.imediaconnection.com/blog/2014/08/14/why-92-percent-of-retail-purchases-still-happen-offline/
Wikipedia – “Pop-up retail”
“Marmite pop-up shop in 2009” by Gilda from London, UK – Marmite pop-up shop Uploaded by Edward. Licensed under CC BY-SA 2.0 via Commons