If you’ve been considering getting a physical location for your online store without a long-term commitment, then a pop-up shop might be a great option for you. A pop-up shop would be a great option for both big and small businesses to test the water of physical retail before making the investment in something more permanent. A physical location will put a face to all of your online customers and help you attract a new clientele. It is also a great way to encourage sales, in spite of the growth and popularity of online shopping.
Below, we will walk you through the steps, costs, and logistics involved in opening up a pop-shop.
What Is A Pop-up Shop?
A pop-up shop is a temporary retail space where brands, usually those with only an online presence can interact with their current customers, and communicate their brand and products to potential to a wider audience. Pop-up shops are usually visually interesting to set themselves apart from regular retail stores.
How Much Does a Pop-Up Shop Cost?
This will depend on a number of factors, such as the location, duration and size of the pop-up. There is no set price on how much you can spend, but you can have a short-term pop-up store for as little as $1,500.
Benefits of a Pop-Up Store
Drive More Sales During Busy Retail Seasons
Black Friday and Boxing Day are optimal times to open up a pop-up shop. Introducing your brand during the holiday season is a strategic way to get people to know you and your brand at the same time. If you have a regular-season pop-up shop, you’ll build a sense of anticipation among customers.
Unload Old Inventory
Retaining old stock can quickly become expensive. Not only are you missing out on sales, but you’re also putting forth carrying costs that can be allocated to other areas of your business. In addition, depending on what your product is, inventory can get old and become unsellable, which means lost revenue and capital.
How To Pick A Great Pop-Up Shop Location
Finding the perfect pop-up shop for your storefront is crucial to your success. Listed below are some common spaces great for pop-up shops:
- Vacant storefronts
- Gallery/event space
- Shopping centre or mall
Questions To Ask Before Booking A Space
If you’ve found the perfect location for your pop-up shop, there are some questions you must ask before booking the space:
- What are your rental costs?
- What are the dimensions of the ceiling, windows, doors, etc.?
- Can space be modified?
If you are interested in a pop-up shop, contact us at Storstac Inc. Let us help you bring your vision to life.