Wherever you look, there seems to be a pop up store, selling the latest trendy gear; from merchandise of the latest Disney film to pop groups, to vintage clothes and second hand gear, the pop up shop is enjoying being hip, trendy and bang on the money.
So much so, in fact, that some really big names like Google, Amazon, online giant Zappos and singers such as Katy Perry are getting in on the act. And, rather than being put off, it seems that these big names are for once not setting the trend, but following it.
But, how can you promote and advertise your pop up space without breaking the bank, or cutting too deeply in to your profit margin – with cost-effective, yet powerful printed promotional materials such as postcards, posts, pop up banners and more!
But why are established businesses taking a slice of the pop up shop action?
The Katy Perry example;
We have all long known how important financially, merchandising the star is; you only have to look at the runaway success of teen band One Direction and the huge amount of branded items you can buy, from stationery to clothing and beyond!
But the Katy Perry ‘brand’ has taken this one step further. In the middle of a world tour, for a few weeks before the arrival of the star to perform in several sell-out shows, a pop up shop full of Katy Perry merchandise, including items from her clothing range makes an appearance… and her fans love it!
With the cash tills ringing, what is there not to love?
And so, the short-term retail market, that is pop up shops, have exploded in popularity for both consumers and businesses. With online businesses growing all the time, sometimes it pays to have a physical presence too but, with trading conditions on the high street being as tough and competitive as ever, having a permanent high street presence may not be a financial viable option.
And so pop up shops bridge the gap perfectly between online commerce and a physical presence; various studies and statistics suggest that in America in 2013, the pop up shop phenomenon has grown by at least 16% since 2009, making it an industry worth $8billion; the UK is not far behind!
Why are they so popular…?
They are a great way of generating much-needed sales but they also present other opportunities too, from testing products with consumers to establishing a brand in the psyche of the consumers. So how can you benefit from pop up shops like the Katy Perry brand and Zappos…?
- Test a new revenue stream
Pop up shops are undeniably trendy. Great to look and even better to shop in, the pop up shop also has another string to its bow – limited availability. The one thing that can make people want something more is the ‘thought’ that the goods or services could actually be limited in supply. Pop up shops are renowned for ‘limited offers’… and don’t forget that pop up banners, easy on the profit margin, are a great way of communicating these ‘best buy’ offers.
- Test out new products
Every business has a new or improved product from time-to-time and the opportunity to test it out on consumers is always a welcome; imagine if you could know how well your products will be received by your buying public?! Well, pop up shops can be a great of trying out new things…
- Raising brand awareness
And this is exactly what the Katy Perry brand is doing; everything is cleverly worked together so that the maximum brand awareness is gained from the pop up shop. But, you can take it one step further by harnessing the power of your website and social media platforms; working all of these factors together could seriously see your brand awareness climb the business ladder.
Did you know that customers get an amazing wow! sensation when they discover something new, something different and something of high quality? This in itself is perfect for raising the brand awareness of your business in the eyes and psyche of your consumers.
- Taking advantage of certain times of the year
The most obvious example here is an online business having a temporary, tangible presence on the high street in the run up to Christmas. From mid-November to Christmas Eve, you can be offering your products or services to the masses and then, in the New Year you can have a sale that sends shivers down the spine of your customers… and don’t forget, the banners and posters can be a great cost-effective way to get deals in the public eye.
- One commerce stream will no longer work
When we say this, we mean that just being on the high street or just on the internet or… whatever way you choose to sell your products, you will find increasingly in 2015 and beyond that your business will not be able to just rely on one revenue stream. In a nutshell, your business will need to be agile and flexible when it comes to how and where you will sell your goods and services.
With businesses from large global concerns, to small online businesses realising the power of the pop up shops, it will become harder to ignore the power of this growing phenomenon.