What Is A Pop-Up Shop/Business?
Pop up stores are basically know as temporary retail. It is an amazing tool to build brand awareness and earn long-lasting profit with a small investment. Pop up shops are made for temporary business by using the small opportunities to form credibility for your brand and try your ideas with hands-on experience for a small time.
You have seen pop up stalls during festivals and special seasons but never really have pondered that these shops are not only there to earn a profit. It has bigger goals than earning some profit during one season, it is the fastest and easiest way to set a craze among the local people in countable days.
Types Of Pop Ups:
The booths and stands that pull the crowd at any music festivals or local festivals, the temporary stores down the supermarkets and malls, different branded products on sale inside another big brand/business, food stalls and firework shops during special holidays and Sno-cone stands during the summer are all good examples of pop ups that have become an integral part of a shopper’s life.
Is It Always Small Or It Can Have Eyebrow-Raising Razzmatazz?
Pop up stores generally cover small space because it is less decked up and equipped with less number of tools. One can start it in a downtown building or take a small portion of another bigger business. One can create hype among the general public with a pop up business in a trailer or a food truck. If you want to go bigger then rent a small place around a crowded place and set a cozy kitchen to cater for festival-goers or office employees.
Even you can occupy a location temporarily to set up a pop up shop for an existing brand to increase razzle-dazzle for it. Existing brands try to expand their business in different places or different cities as a short-term investment.
How Can Pop Ups Help You In The Growth of Your Business?
Pop ups can act as a catalyst when it comes to building a good relationship with your customers and count your chances to see if your idea of the business works subtly in a particular area. With cost-effective setups, pop up stores can be the best marketing tactic to make your brand bigger without breaking the bank.
As the COVID-19 crisis is not going anywhere any time soon, big brands and their permanent physical stores have been cannibalized due to bankruptcy. Many well-known, posh stores are closed permanently in this unsteady situation, making pop up businesses to be the new normal of 2020. If you want to cut the cost of promoting your stuff then this plan is suitable for you to try your luck!
1. Cheap Investments:
Pop ups are way more cheaper than PR promotions and having ballyhoo through Google and Facebook ads. They drum up the buyers about your brand and products by physically present there. Pop up's main intention is not to increase sales, they carry a different approach and that’s the reason for success. They have become an outstanding PR plays from many small and medium companies.
2. Best Way to Promote A New Product:
It might have sounded crazy in the last decade about how the pop up stores can add more popularity to your existing business but since 2019, it has become apparent that pop ups the strategic weapon that can ladder up your business. It creates a whim among people to follow the hustle and bustle around a particular shop and there you go! You get a bright scope to lay all your new inventory for the people of the area. You can promote the exclusive products of the season with the help of seasonal pop ups.
Like Amazon did last year in Westfield, London, where they associated with several tech brands to launch smart home devices that are controlled by Alexa. Farfetched-owned cosmetic brand browns Fashion opened an experimental pop up store in Berlin to stir attention before the New Year’s Eve in 2019. Louis Vuitton celebrated menswear pop-up last summer.
3. Penetrate A New Market:
This strategy has been adopted by the Copenhagen-based brand GANNI, a U.S based brand that is running a successful online and offline business. They opted for a pop up store with limited-edition blinding accessories mixed in with locally sourced products and snacks. Soon it was a bang in the business and they spread the brand so largely by taking the low-risk path that they became a trendsetter. The point, in a nutshell, is that you can improve your business with the new strategy in a new locality or with a new line of products. You can let your uniqueness exceed without running much risk and understand the new market of the business.
4. Market New Collaborations:
You can set up new pop ups in new towns to spread the word about your new partnership with other brands. It helps to aware people of your business expansions and gets benefitted by loyal customers of both of the companies.
5. Try New Products:
One of the best things about the pop up business is that it is a physical store and millennials love to try out new products before they decide to purchase it. These temporary stores actually help the customers to explore the new things right there that the brand offers without costing money and also easy services of 101 purchase and return. Your brand can get bigger exposer to show the goodness of the product and create a hype that will help you in the long run.
6. Generate Website Traffic:
Though it is a physical retail store, it plays a key role to boost your online presence. As you educate people about the quality of your exclusive products or services, they will visit your website to be surer. Gradually you will get more traffic on your website and the graph of sales will naturally curve upward. Pop ups act as a bait lure people in a short span and impel them to check out their history more deeply through the online pages. Once the customers are impressed, they will follow new trends of the brands behind the computer screens if they cannot find a store nearby.
7. Following The Trend:
The millennial population and Gen Z grownups hate to miss out on things that create a buzz around the popular pockets of the city. They will find each and every cool pop-up to know what’s trending. This is the chance for the new and old entrepreneurs to seize the moment and plant a concrete strategy that may not earn lumpsum profit but will spread your brand’s popularity. If anything new happens in a city that becomes popular Instagram stories with hashtags. So be the place where everyone wants to visit with their friends and families and take tons of pictures to post it online and Voila! You will enjoy your free publicity with the consumers and visitors who spread your word by just sharing pictures and tags.
You can see a gradual spike in your sale both in the physical and online store with this smart and cost-effective strategy.
