Why Pop-Up Shops Benefit Businesses of All Sizes
Posted September 15, 2020
Though pop-ups have been around since the 1990s—thanks to new advances in technology—they continue to help brand’s gain momentum, build excitement, and generate more buzz. For many businesses, the allure of managing a temporary retail space to test new concepts is a great investment. It allows you to take more risks and experiment with ideas before committing to a full-scale rollout.
And the best part is pop-up shops can benefit any type of business, whether you’re already an established brand or you’re starting a new venture.
“…what if a consumer could walk into a room and fully experience your brand with all their senses? Pop-up events offer just that—the chance for consumers to get up close and personal with their favorite companies in a truly immersive setting (Hubspot).
Benefits of Pop-Up Shops for Established Brands
Believe it or not, pop-up shops actually take the guesswork out of some of the fundamental questions you might be asking:
- Will my new product line engage customers?
- Will my shop be successful in a new location?
- WIll my products attract new/returning customers?
If you set up a pop-up shop, you can test the waters first, collect data, and make informed decisions about the future of your brand. Let’s imagine you’re thinking about expanding locations, but you’re not sure if a shopping center like Rosedale is the right place to permanently set up another retail space.
By opening a pop-up shop at Rosedale, you can watch the success of your concept in action and enjoy the following benefits:
- You get to see how customers engage with your products
- You get to track how many people stop by
- You get to gage customers’ interests
- You get to measure sale conversions
- You get direct customer feedback
- You get to build excitement for your brand
And once you have this real “test-audience” data, you get to decide your next move with more confidence and less commitment: “Temporary storefronts leverage the scarcity principle and the excitement of never before seen products to provide an experience that drives shoppers to show up — and buy,” (Tinuiti).
Manage an online business? A pop-up retail shop can put your products in the hands of customers faster, allowing them to experience your merchandise in person, using all their senses (Hubspot). This helps create buzz about your products before customers buy them online, which means less inventory waiting in shopping carts and more completion of sales.
Benefits of Pop-Up Shops for StartUps
Think of pop-ups as a testing ground. The idea is to gather real/honest data, so you’re better equipped to figure out what works and what doesn’t. You may try a concept for a week and decide you need to make certain alterations, based on customer feedback. You can then test your product again, after modifications, to see if your changes were a success and to decide if your brand is ready for a more permanent space.
Let’s not forget that pop-up shops offer a fun, unique way to spread awareness about your new company: “For small startups, pop-ups are now the easiest and fastest way to start selling products in a physical location. Acquiring space for a pop-up store has never been simpler,” (Forbes).
Set Up a Pop-Up Shop at Rosedale Center
With the holidays approaching fast, what better time to test your concept shop? At Rosedale Center, we’ve helped both established and new brands bring their ideas to life and draw customers in using creative pop-up shops!
If the idea of short-term retail leasing sounds like the right direction for your brand, contact our leasing office today to get started!