How Pop-up Stores Can Help Businesses Boost Their Sales
The planet became a global village with the invention of the internet. As technology advanced, the world adopted new ways to communicate and operate businesses. A majority of companies now strive to have a strong online presence because it makes the business more accessible.
With everything that’s currently happening in the world, several businesses have closed up shop, while others have transitioned into trading through the digital spaces. That brings us to the question of whether or not a business can survive through pop-up sales.
Before figuring things out, look through the selections of pop-up spaces available near you.
The concept behind pop-up stores
Convenience is the reason why most people prefer shopping online these days. However, nothing beats the good old feeling of connecting with a brand on a more personal level. Online-based companies can regularly take the business offline by establishing pop-up spaces.
Pop-up stores are short-term spaces set up by businesses to test-drive concepts, market the brand, or sell their products. They usually operate for days or weeks only to close shop soon after.
They are popular with small business owners who are at the growing stage or simply don’t want to incur the financial risk of running a permanent storefront. Pop-up stores are perfect for digitally-driven brands that want to try out the brick-and-mortar experience. They also allow businesses to physically interact with their clients.
Most importantly, they function as a tool to boost sales without forcing a business to invest any more money than it should.
How brands benefit from setting up pop-up stores
A pop-up can mirror a regular storefront, but usually, brands try to make them as unique as possible. The goal is to entice their online clients to pay them a visit offline, and that’s why they strive to offer a unique shopping experience.
The human touch still sells in the business environment, and operating a pop-up store gives brands the opportunity to extend this aspect to their customers. Most use it as a chance to educate consumers about the brand. It feeds into the already available information on social media, print, broadcast, and search engines.
Companies also stand to benefit in various ways by setting up pop-up stores.
They create a buzz
Consumers love getting their hands on exclusive/limited-edition products offered by their favorite brands. Businesses often use exclusivity as a sales tactic by manufacturing limited-edition items or restricting the distribution of certain products.
A pop-up store is the ideal channel to sell such products, and it encourages consumers to visit the brand’s temporary business venue. The sense of urgency created through the brand’s digital channels is what guarantees the success of a pop-up experience.
Boost sales during peak seasons
There are certain peak seasons for all businesses across the board, including Black Friday and major holidays. A pop-up has the ability to spark interest and also retain consumers’ interest in the brand well after the temporary store closes shop.
It also creates anticipation with consumers looking forward to the moments when their favorite brands go offline.
Offload off-season goods or older inventory
Brands always deal with the nightmare of having dead stock on their hands at one point or another. For some businesses, these items end up aging out, making them even harder to sell.
Pop-up shops can give these products renewed life, particularly if they are seasonal items. Brands still benefit from offering these items at slashed prices because they attract a new demographic of shoppers and the business is finally able to move the products.
Where should you set up your pop-up store?
Location is key when choosing a pop-up space and the options are endless. These guidelines can help you narrow down on an ideal location.
- Malls have lots of spaces available for pop-ups. The choices include hiring a space available within one of the mall’s pre-existing stores or renting a kiosk or booth space. You benefit from the massive foot traffic malls are known to attract.
- A vacant storefront presents an endless opportunity to customize the space to your preference. It might come at a higher cost and works best for a business with a huge inventory.
- Several brick-and-mortar stores have pop-ins available for rent. It’s a great choice for newly established brands looking to benefit from the visibility an already established business can provide.
- Mobile pop-ups involve renting a truck and taking the brand around the area of interest. It opens the business up to operating in new locations and maximizes the brand’s reach.
- Most galleries and other event venues also offer pop-up spaces for rent. They provide endless customization options, unlike most retail locations that might be restrictive. They are also event-ready venues, allowing you to truly give your clients a standout experience.
Use the pop-up store experience to boost your sales: final thoughts
The pop-up experience enhances a brand’s visibility, marketing efforts, and the ability to boost sales. It gives both online businesses as well as retailers operating storefronts the opportunity to open up their brand to newer markets. Overall, pop-ups work as a tool that companies can use to drum up business at different stages of their operations.