There are more and more temporary retail shops because more companies start recognizing their perks. There are various popup shops, for example, shipping containers and modular stores. Whatever format, there are main benefits of popup shops that we specify below.
As popup stores tend to be temporary and not too sizable compared to traditional shops, the rent price is not as high. This is particularly beneficial for new firms without enough funds to rent conventional store space. Above all, if needed, you can close down the temporary location to stay away from more costs from an unprofitable business.
Other benefits of popup shops? They enable a more selective method of marketing and selling. Your company gets a short-term commitment, meaning that you can adapt to changes in your business and marketing strategies. Besides, you have all the right to start a popup store just when sales are projected to be high and close it in times with less traffic.
Buzz generation is among the main benefits of popup shops. Usually, popup retail shops are amazing marketing tools, considering that they often attract attention from crowds. As you may notice, people are keen on the sudden existence of a shop. The Gap, Adidas, Target, and many other large businesses have leveraged popup stores to create buzz around their new product.
Benefits of popup shops: Testing and Experimentation
The temperature and affordable nature of this type of store will enable you to involve in testing new promotions and products to estimate future needs. BMW’s MINI and other big firms have started popup stores for this reason. Meanwhile, less sizable companies have experimented with new business ideas leveraging this model. The temporary Mexican dining business in the United Kingdom named Wahaca Southbank Experiment is a popular example in this regard.
Spontaneous Buy Encouragement
Thanks to the temporary nature of this type of shop, shoppers feel more urgent to purchase now. Dissimilar to conventional retail businesses, the popup shop is self-explanatory as a “limited-edition” collection that customers need to get timely or regret later. It comes without a surprise that there is a specific passion for stuff that calls attention and immediate action. This has applied to how consumers shop too.
Higher Awareness of Your Brand
This is one of the main benefits of popup shops. Popup stores enable you to extend your brand and raise customer awareness of your products. For eCommerce businesses particularly, this type of store gives a way of interacting with customers in-person and letting them know more about new features and products. This is also often especially advantageous for businesses with complex offerings or plan on attracting a market segment that does not often go to their site or purchase from the store online. For instance, Google started a temporary shop in Australia to let customers be more informed about its Android mobile OS.
In conclusion, there are lots of benefits of popup shops. If you want to launch them, call us for the best strategies and solutions.