In statistics released by the Local Data Company there were, at the start of 2014, 50,000 empty shops across towns and city centres across the UK.
On one hand, this seems like a huge figure; we all know that trading conditions have been tough in recent years but there seems to be light at the end of the tunnel…
Despite this high vacancy rate, for the first time in 4 years, the overall rate of empty shops on our high streets has fallen below 14% and this could be down to the increase in short-term retail opportunities that many businesses – established ones, big names and start-ups too – are taking advantage of: pop up shops.
Easy to set up and market to the local populace – well placed, posters, leafleting and roller banners to announce your presence and location – pop up shops are being seen as an exciting, modern vehicle to expand and grow all kinds of businesses.
An idea that is maturing
Early examples were about being opportunistic; pop up shops were an easy, low-risk way of renting a prime space in a prime spot to catch the attention and buying power of the local population. But, it seems that the idea is beginning to mature.
Still essentially opportunistic and low-risk in nature, many businesses are realising it is another way of reaching people and drawing in new people to their business. Those taking up the challenge of a pop up shop are no longer just start-ups or micro business; established names and brands are beginning to see the advantage of these short term retail opportunities to try new products or services, as well as cementing their brand within the psyche of the savvy shopper.
So, how is this pop up shop idea becoming a re-worked model on those early pop up shop ideas…
Introducing a brand
Pop up shops, when they first appeared a few years ago, aimed to ‘shift’ a large amount of stock in a short space of time. They created an ambience all of their own, especially those pop ups that were within the vintage cloth retail industry.
In other words, they became hip and trendy; this on trend atmosphere that they created both in the psyche of the shopper and the interior of their short term hired space. This trendiness has been harnessed further by the big names and brands, with smaller businesses being able to follow the example set too.
Every business at some point will have an additional product that they want to offer their consumers; it may be that they are seeking new consumers, out of their current buying population. Pop up shops can offer the low risk vehicle a business needs to introduce a new product.
Online businesses can also use this method as a way of introducing their products too; for retailers that are exclusively online, a temporary retail space such as a pop up shop is one way of enticing the customer to look and feel the products. Many online retailers have done this in cities across the world, proving it is a valuable method of marketing and selling.
A great start-up vehicle
There is no denying that a pop up shop, with its low overheads and low risk approach is a great way of starting a business in any kind of retail sector.
A new business is all about selling, but these sales need to walk hand in hand with brand awareness too; a pop up shop can be a positive first step in the right direction for a new business.
However, it is not all as straightforward as it seems;
- You need to be have the funds or the budget to create the shopping experience within the space – the temporary nature of a pop up shop does not mean that you fling open the doors and expect people to shop in a draughty, unheated, dirty place. You will need to kit it out with shelving and other apparatus, as well as using printed media to tell people what and who you are
- Choosing the right place can make or break a new start up in the case of a pop up shop; even short term leases of 3 months can be astronomical in price but opting for a high street where your customer is not shopping, is a sure fire step to failure
- Staffing a pop up shop can mean long hours for the entrepreneur; you may need the help of friends and family, or maybe agency staff to circumnavigate the very temporary nature of the pop up shop
A creative experience
But, the pop up shop has matured in one third and final sense – it is a creative, versatile experience that can create a real buzz about town! Simply throwing open your doors will not do the trick; you will need to create this buzz and announcing your impending pop up shop through adverts in the local press, leaflets through doors and posters about the town is one way of creating anticipation… now throw open your doors and see what happens!