It has been discussed in great detail how difficult it can be for retailers to make ends meet. Paying a large amount monthly for rent and just praying that your store can grow fast enough can be daunting. One solution to all of this may be to try collaborating with a pop-up shop.
A pop-up is a short term lease vendor that you can set up anywhere(with permission) selling anything from lemonade to make-up to books. The ubiquity of pop-ups in recent years has coincided with the rise in technology and the shrinking of the consumer attention span. Businesses need to grab the attention of a customer and draw them in quickly and there is no better way to attract customers than to utilise other businesses’ loyal footfall.
Pop-ups make sense as they will likely be paying less rent and will benefit from the existing footfall in the store. The stores, however, should have some sort of synergy (e.g.) a café housing a book store pop-up. This works because people who drink a lot of coffee generally like to read and vice versa.
Even something as simple as a kiosk or booth in the middle of a shopping centre can be very effective. Rent will obviously be lower and it’s a great way to test out if your product sells. Many of the biggest companies in the world such as Facebook, Nike, and Coca-Cola have experimented with pop-ups so if you’re thinking of trying one you should – you’ll be in very good company.
Find out more about pop-ups in the following infographic from Colourfast.