Pop-up shops are already part of the public and consumer lexicon. As property owners began losing their renters and lessees during the Great Recession of 2007-2008, many owners started welcoming pop-up stores into their unused spaces. The idea of temporary, or lean, retail has become a valuable venue for retailers and businesses with a burgeoning brand.
These small, makeshift shops can help your company create a uniquely engaging environment for your customers. As the economy recovered and consumers began spending more money more often, the pop-up store increased in popularity, reshaping the market landscape with business owners and marketers experimenting with the concept and creating a “customer adrenaline rush” for familiar streetscapes and communities.
The pop-up shop phenomenon
In the 21st century, capitalism has evolved into more than simply “supply and demand,” mainly because supply is so ubiquitous. Your retail company, and your specific brand, becomes more attractive to consumers seeking a unique experience and entertainment when you use the pop-up experience.
The modern shopper and consumer require emotional stimulation, and imaginative interaction and pop-up shops meet these new capitalist needs. The thrill of discovery, the charm of high quality, the simplicity of small locations and the excitement of simulated intimacy are some of the factors that make the best pop-up shops more valuable than any standing retail location.
For advertisers, pop-up shops are a must-have marketing tool for retail brands. It creates the opportunity to transform simple retail transactions into mini-events that heighten customer experiences and create a valuable sense of exclusivity among the public. According to industry service provider, PopUp Express, the pop-up retail industry has already grown to at least $10 billion in sales.
Here are a few tips to help your brand and business make the best use of the pop-up store phenomenon currently dominating the consumer landscape:
Tip #1: Know your brand
An understanding of your brand allows multiple elements of your pop-up to come together. From potential design and stylistic choices, to location options and promotion ideas, knowing what you’re selling helps you articulate the message you’re trying to send to your customers.
It helps you attract your current customer base and also identify the potential audience your brand can expand into.
Tip #2: Location, location, location
Despite being temporary, the entire purpose of your pop-up comes from the desire to create high-impact interaction in a short amount of time. In the past, temporary commercial real estate was much more difficult to find, but the value of pop-up events has proven highly profitable, creating more “popping-up” opportunities all the time.
With no shortage of options available, the success or failure of a pop-up comes from your ability to correctly place your brand in the best location possible. When examining locations, determine where the most foot traffic occurs.
Are there any local events or destinations that provide a regular audience? How much creative freedom do you have available in the area you’re considering? Are you in an area where your brand can monopolize community attention for the duration of your pop-up event?
These are only a handful of questions you should ask yourself when deciding on a pop-up location.
Tip #3: Use social media
The emergence of new deals, the unveiling of new services, the sampling and display of new products! These are all elements that feed the social media beast. Pop-up stores can essentially use the same best practices you would use for engaging people with a booth at an event. Social media hashtags are the new tools for whisper campaigns, creating a unique tag for your brand to gain audience anticipation and interest.
Social media will come into play during your pop-up event, whether you use it or not, so your best bet is to control it as much as possible. Do a Facebook Live post from your shop and include those who could not physically make it to the event. Create physical props for photo-ops featuring your brand, product or hashtag for Instagram posts, while geofilters unique to your brand attract selfie-takers for Snapchat postings.
Lastly, business collateral with your brand, website, social media address and video helps your customers find and follow your brand after your pop-up concludes. Even if someone does not buy anything, at the very least, you begin building a relationship with your customer base and community.
The benefit from your pop-up shop event comes from understanding how to effectively use these elements, as well as others. Consumers want a special connection with the brands they love, and actively search out imaginative interactions and emotional value in their products.
By keeping your brand’s identity in mind, making the best use of your location, and effectively using social media to your advantage, the customers gain an exciting shopping experience without sacrificing a profitable experience for you.