Whether you hear temporary retail, flash retailing, pop-up store, or pop-up shop, it is all one and the same. Pop-up shops are taking over the retail world and rethinking traditional brick-and-mortar and big-box stores, but what exactly is a shop that pops up?
Sighted as early as the 1990s in large urban cities such as Tokyo, London, Los Angeles and New York City, pop-up shops and pop-up retail are temporary retail spaces that sell merchandise of any kind. That’s right, just about every consumer product has been sold via a pop-up shop at one point in time. From art to fashion to tech gadgets and food, pop-ups are exciting because they create short-term stores that are just about as creative as they are engaging. And they come in all shapes and sizes.
- Term: typically a 3 days to 3 months.
- Location: high foot traffic areas such as city centers, malls, and busy streets.
- Price: much lower than a traditional store, typically paid upfront.
- Use: launch new product, generate awareness, move inventory, vet idea, increase ‘cool’ factor.
What are the benefits of a pop-up shop?
- Connect with customers: The pop-up retail format allows you to personally get to know your customers and build stronger relationships.
- Sell more: About 95% of all purchases are still completed offline. This is your opportunity to take advantage of the retail channel.
- Build awareness: Consumers and the media love the excitement generated by pop-up shops. Build awareness by going offline!
- It’s cheaper: Launching a pop-up shop is 80% cheaper than a traditional retail store
- Test new markets: Easily enter a new market and launch new products
So, who can start pop-up shop?
The short answer is everyone. Big-name brands, including eBay, Target, JCPenney, and Gap, have tested hosting pop-up products in their stores. At the same time, local artists and fashionistas, Etsy sellers and restaurants have also become increasingly popular in the pop-up scene. Even mobile trucks for food, designer fashion and vintage housewares have been spotted around cities like Minneapolis, San Francisco and Los Angeles.
Where do they find space to pop-up?
Right here! Storefront is making the process of popping up easier than ever before. Realtors, landlords, retailers and other space owners are listing their extra or vacant space on www.thestorefront.com for short-term leases.
Before Storefront it was a difficult, time-consuming and expensive process. Now it’s easy enough to do over lunch. Just search Storefront for retail spaces in your area and send a message to the space owner. All of our spaces have been vetted and are open to pop-up entrepreneurs, and there is lots of excitement to come. New features like shopper analytics, promotional tools, one-click contracts and instant insurance are all on the immediate horizon.