Temporary and innovative – Pop up stores are changing the conventional rules of the retail industry and recovering the connection between brand and client.
What is a Pop Up Store?
Pop up stores are the format of the future of the retail industry. Pop up stores are physical stores located in strategic locations on a temporary basis, that is, they are ephemeral, and their efficiency is that they last only for a limited time.
They can last of a few hours to several months, usually no more than three months. They are useful to open in the market, try new shopping experiences, present a new product and build brand loyalty.
“Create emotions, impact, surprise, and all this in a space that has an expiration date from the precise moment of his birth.”
Temporary stores are powerful marketing tools that fit every budget. The most creative and effective marketing strategies take time to achieve what an intrinsically pop-up store offers: emotional commitment from the customer, live communication and valuable experiences. ‘They exist today, they disappear tomorrow’: the pop-ups are exclusive and exceptional. For that reason, they increase the purchase by impulse.
Brands are able to reach their targeted audience in prime locations and unconventional spaces. New products can be launched, obtaining immediate feedback from customers and giving them the opportunity to interact with the product or service. Additionally, the format of spaces per day allows projects or businesses to be carried out without running the traditional risks and with limited resources. By not being permanent, you can try and repeat if they work well.
Customers find an added value in temporary stores as a result of their shopping experience, mainly because the way they try and see the product is different from that of a traditional store and, as such, they remember it and value it spatially. Approaching the brand in this way helps the consumer to remember better, mainly because there is an added value in the sense of exclusivity.
Origin concept of the pop up store
The concept behind pop-up retail is relatively new to them. It emerged from the modern art scenes, where artists and creatives discovered that there was an opportunity to use empty commercial properties and storage buildings to present their works of art or to meet and integrate people at events. These public occasions were temporary and non-recurrent – which contributes precisely to our point: the pop-up concept is booming.
The commercial sector quickly took advantage of this principle. At the end of the nineties, the first and exclusive showrooms sprang up in the United States and were only open to the public until the first merchandise was sold out.
The potential found in temporarily rented outlets exceeds today’s short-term direct sales. No wonder, after all, customers have changed and the retail industry too. Nowadays brands cannot survive only by offering top quality products. You must convince your customers through a great experience to connect with them.
In the best place, at the best time
Innovative mockups of retail stores are required to achieve the perfect layout to sell our products and services in a surprising but efficient way. At the same time, these models must be changeable to follow different objectives: Do you want to reach your audience in an attractive and busy place? Is your idea for an alternative presentation of the store ready to offer a constant experience?
Do you want to capture the market with new products or services? Do you want to get rid of the stock? Are you focusing on a specific target niche? Do you want to collect comments and opinions from clients? – Pop ups store allow brands to have the flexibility to be in the right place at the right time.
Retail pop up figures
The pop up retail contributes £ 2.3 billion on the UK economy, according to Britain’s Pop Up Retail Economy 2015, the second annual report of the pop up sector, prepared by the Center for Economic and Business Research (Cebr). ). According to the current figures, it is estimated that by the end of 2025, 1 of every 3 stores will be a pop up store. The model of “paying for a permanent space in the long term” changing towards a “pay per use” model, giving the opportunity to respond to the needs of an increasingly agile and flexible market.
The traditional retail is transforming. Online shopping has been established as a sales channel in itself and consumers are looking for unique shopping experiences, making informed decisions and aware of what they consume. Proximity and sustainability play an essential role, people want to know where products come from.
According to the latest ShopperTrak report, “Redesigning Retail,” 90% of purchases are still made in physical stores. However, the digital environment is becoming increasingly important. In 2018 e-commerce is expected to have a value of 2.5 trillion dollars. Consumers are multichannel, and this dramatically affects their expectations in buying experiences.
What do consumers want? Experiences and encounters instead of buying a product. Meet with others, eat well in a restaurant and experience the unexpected – in other words, the principle of serendipity. The analog shopping experience has an undeniable benefit: it allows you to interact in a social space where you can have immediate contact and create connections with others. Likewise, customers want to touch and test the products before buying them.