Before the digital boom, the success of a retail store was rooted in how much money it made. Now, the rules are different. A pop up space can be a brilliant marketing tool, but only if they deliver a key goal for your business. Here’s how flexible retail can help you achieve some fundamental businesses objectives:
Test out a new product or market.
Naturally, flexible leasing is a low-commitment alternative to a traditional brick and mortar store. With this in mind, it’s the ideal environment to try out something new for the first time. Whether it’s a new product, audience or location, a pop up offers an environment where you can truly be in touch with how your new idea is received. It’s also an unrivalled way to understand your customer and get immediate feedback from all aspects of your store – both positive and negative.
Build a community.
Whether you’re an established brand or just getting started, a physical space serves as a place for your community to meet. For established brands coming to a new city, your store could be a place for long-time fans to finally meet each other and connect. If you’re launching your first-ever temporary retail space, it’s an opportunity to let the world know what your brand is about.
Why not take this one step further and put on community events in your store? Hosting a panel, networking event or workshop that makes sense for your brand will bring like-minded locals together in your space – building buzz and community around your store. One brand who does this well is Daily Paper: each store they open plays host to a whole series of events in every city they pop up. Last year’s pop up in Accra saw parties, talks and even a football tournament to get the local community involved.
Boost sales.
Of course, temporary retail space is also a great way to drive sales during a key moment in your marketing calendar. And if you position yourself strategically, you can make your money back in just a few days: bringing your brand straight to your target customer is the easiest way to drive sales. Making this decision is crucial for success but can be tricky, especially if you’ve never been to the area in question before. If you’re not sure where to start, get in touch with our concierge team – give us a call or create an account so we can find out how we can help you. From our experience of launching 10,000 stores worldwide, we can offer you insights on your area of choice.
Create PR.
If you’re new, you’re news. Many tired and traditional high streets will have had the same familiar faces for years if not decades, so being a fresh face on the scene will start a buzz among locals and press. Give them even more of a reason to visit by doing something unexpected in your pop up space, something that deserves to be shared on socials and printed in magazines. One of the most impactful ways to do this is through a unique store design, which doesn’t have to break the bank. Here are some examples of pop ups that went viral to get your creative juices flowing.
Connect to a moment.
By launching alongside a national holiday, sporting event or cultural celebration, you can be a part of the moment, just like our CEO did for the Queen’s Diamond Jubilee eight years ago. Not only will your new store build on the buzz of the event, but by strategically positioning your pop up on a busy high street, you can be in the heart of the action and benefit from some high footfall.
Bring down your marketing costs.
As the online world becomes increasingly saturated, the costs of digital advertising have rocketed accordingly. Pop up stores are becoming the new cost-effective way to stand out and acquire new customers. Many surveys reveal those who have an in-store experience go on to spend more than they would have online – they feel more loyal and connected to a brand than they are online. You should also consider your storefront as a much cheaper billboard: how can you say everything you need to about your brand and entice passers-by to visit? Look at the storefronts on iconic highstreets and consider how your windows could similarly communicate your message.
When you think strategically about temporary retail space, you can use it to meet a variety of marketing goals. If you’re still unsure on how to start, our concierge team is here to advise. For personalised advice for your brand’s marketing strategy, give us a ring or create an account.