Undoubtedly, we all noticed these ephemeral little shops called pop up shops. More and more numerous in the big cities around the world offer us more original and innovative experiences than others.
What is the secret behind this model, which is attracting more and more brands? Read this article to know more about that.
With The Emergence Of Pop-Up Stores, It Looks Like Retail Is Completely Changing. Why And How?
In a global context where many shops are closing, you might think that retail is dead, but it is not. We are indeed dealing with new retail which is more accessible, more flexible, and more transparent. The pop-up store is part of this trend because it has the particularity of adapting to market realities. Brands can now launch ephemeral retail initiatives at a lower cost for the duration of their choice. The store, historically centered on the product, becomes ephemeral and takes as its new center of gravity... the customer!
How Can We Explain The Success Of The Pop-Up Shops?
For brands, this format is extremely profitable in several aspects:
• It allows them to increase their visibility when launching a new product for customers and the press.
• To get closer to their customers by offering them a physical place and a unique meeting.
• To save money by not committing to so long haul and therefore limiting the risk,
• To boost their sales by surfing on the year’s highlights like Mother's Day or Christmas for example.
• To test a new concept and a totally new market before committing.
For customers, the pop-up store is an effective way to get them out of the boredom in which traditional retail had plunged them. The pop-up store, with its ephemeral and exclusive essence, surprises the consumer and entertains them.
Who Benefits From Using The Ephemeral Strategy In The Retail Industry?
Originally, the target audience of the pop-up store and all other ephemerally-based approaches were e- merchants and DNVBs (Digital Native Vertical Brands), deprived of physical space, their DNA being purely digital. However, we note that the pop-up store instantly seduced brands from all industries: fashion, luxury, cosmetics, tech... Now, we can say that the pop-up store attracts both e-merchants and traditional traders. How to explain this success? Today, the pop-up store has become a new medium. Brands now have the possibility to communicate differently, more attractively, and visibly. Very often, brands dig into their budget allocated to traditional media to be able to launch a pop-up store.
Has The Pop-Up Store Approach Become A Must?
The pop-up store is now a key tool that’s available to youth and established brands, regardless of their stage of development.
If they are youth, it allows them to test themselves at a lower cost, to validate the relevance of a model, on the way to meet their customers.
For an established brand, the pop-up store allows you to make yourself more visible, to stand out from the competition by offering innovative, tailor-made approaches that speak to their customers. The turnover generated by the pop-up shop is not the most important thing here; the establishment of a relationship with the customer through an unexpected approach is much more.
What Are The Criteria To Take Into Account When Looking For An Ephemeral Space And Where To Easily And Quickly Find It?
1. The Budget: It is important to know the readiness level of the brand (how the brand is ready) to invest in a physical space. On Storefront, there are all types of ephemeral spaces, suitable for all budgets. You can find space for less than $100 a day in key neighborhoods.
2. Location: the preferred neighborhood must match the brand's target.
3. The Size Of The Space: neither too large nor too small depending on the activity that will be developed there.
You have to keep in mind that the pedestrian traffic does not directly engage with all potential difficulties of a brand. Having space in a dynamic neighborhood never goes without good upstream communication, in order to attract consumers to the space in question.
