What is the underlying similarity between Samsung, Etsy, and Kanye West? These three, along with countless other brands, have embraced the latest retail trend – the pop-up shop. And this $50 billion dollar industry is here to stay.
Defined as a retail space that is “here today, gone tomorrow,” micro-merchants, large enterprises, and everyone in between are opening pop-up shops to further brand recognition and build in-person relationships.
Location Location Location
Where you set-up your shop is critical to the effectiveness of the temporary retail event. Keep note that temporary leases can be difficult to obtain, thus do your due diligence and start preparing early. Research the neighborhood to ensure that the space is accessible and garners foot traffic. Also, Customer Relationship Management (CRM) tools can provide you with customer demographics, enabling you to optimize your location to amass the most relevant customer base.
All About Timing
Once business goals are outlined, achieving success relies heavily on the timeliness of your shop. Because there is a shortened amount of time to attract customers and grow sales, it is critical to market around an announcement, sale, season, or holiday. Are you a jewelry shop, costume store, or tech company? By tying your brand to a holiday or timely trend you can increase your new customer base and see a growth in sales. Notably, customers can now correlate your brand with a tangible trend – furthering brand recognition.
It is crucial to optimize the duration of your pop-up shop. Perfectly striking the balance between being open long enough to see results but also having the allure of “gone tomorrow” can drive a sense of urgency in your customers.
The First Impression
The timeworn phrase “you never get a second chance to make a first impression,” rings incredibly important for your shop. You don’t want to keep the customer guessing about what your brand is and what you're selling. The way the store is laid out and the presentation of your merchandise will impact the experience of your customer.
Build buzz through social media. Craft a pop-up shop campaign hashtag, with a countdown to the store’s opening. Now, customers can easily follow the shop’s updates and on the back-end you can track the success and engagement on social media.
Once the shop is open, use social media to engage with customers, encouraging them to post pictures, videos, and comments about your shop as well as keep them in the loop on the timing and movement of your pop-up shop.