It was Christmas and I was walking through the small streets of Barcelona I saw all these lovely shops. One of them took my attention, it was a small store of Happy Socks. I was overwhelmed with the walls full of socks and their different Christmas colours and patterns. Because the shop looked so adorable and colourful I immediately walked inside. I did not know I could be so attracted by socks and had never looked at socks like this before. The Happy Socks store was a pop-up store which was located there for one week and then moved to another shop in another city. Nowadays pop-up stores have become increasingly popular and small businesses are trying to respond better to place and time, when and where to sell their new products. In the article of Larry Alton, a writer from the entrepreneur is explained what the right way is to open a pop-up store. (https://www.entrepreneur.com/article/296064) (Alton, 2017)
Alton, L. (2017, June 21). Pop-up Shop Marketing: a Quick How-to Guide. Retrieved from https://www.entrepreneur.com/article/296064
What is your goal for a pop-up store?
With opening a pop-up store you definitely are taking a risk. In the article is said that this is mostly due to the marketing aspects. I think it also depends on what your goal for this pop-up is. If you aim to start a successful business which will be successful forever you can face a serious disappointment because you will have to close this shop eventually. And for all you know you will never achieve this kind of success again. On the other hand, if your aim is to achieve brand awareness a pop-up store (with the right kind of marketing) is the perfect place for you. Another convenient advantage of a pop-up store is that you can easily (and with low cost) discover who is your exact target group and what they are currently thinking about your business.
Being in the right place at the right time.
Starting a pop-up store can be a really good addition to your business strategy. When you start planning your own pop-up store, make sure that you think about all the opportunities and risks. Like the Larry Alton says: “Secondly if you happen to be in the right place at the right time, you could rake in significant profits for your business minus the traditional risk retailers incur.” We agree to think that this is a really important thing that you have to keep in mind. For example, if you start a pop-up store by selling merchandise of the world most famous DJ. It is wise to start the pop-up store at a festival, where he gives a show. In that case, you will get much more success than when you sell it just at a shopping street.
Moreover, according to Syama Meagher, there are three main reasons to open your own pop-up store. The first one is the chance to reach people who may be interested in your products. Using pop-up stores you may test your pricing and adjust your merchandising strategy to the customers. Finally, you may increase your revenue which is usually the most important aim of business entity. (Scaling Retail, 2017) Another interesting reason to run a pop-up store is presented in an infographic below. Especially interesting seems to be testing the market or introducing a new product. Using pop-up shops, you may know how your target group reacts to the product you offer. Undoubtedly, running a pop/up shops increases the traffic in your webpage and customers are more eager to buy something online, as well. (Webchanakya, 2016)
Source: Scaling Retail
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- Link to article: https://www.entrepreneur.com/article/296064
- Link to pop-up store (Happy Socks): http://www.zebradc.com/proyecto/happy-socks-barcelona/
- Video: Scaling Retail, 3 Reasons Why Pop-Up Shop Shops Work, Retrieved from https://www.youtube.com/watch?v=99W2RwOsQe4
- Infographic: Webchanakya, 9 reasons to do a pop-up shop for your eCommerce store, Retrieved from http://www.webchanakya.com/infographic-9-reasons-to-do-a-pop-up-shop-for-your-ecommerce-store/
The content was generated by students: Lynn Koenderink, Marissa Penning, Benita de Jong, Natalia Śliwa