Brick and Mortar vs Pop Up Shop: What You Need to Know
Pop-up shops have become a popular option around the holidays. For online retailers, a holiday pop-up shop may seem like an obvious way to generate some extra revenue, but it’s not without its own set of challenges. Here are some things that e-retailers should consider before setting up shop as a pop-up.
It’s Not The Same-
Obviously, an online store and a brick and mortar are worlds apart. What an e-retailer might not consider or be aware of are the unique challenges associated with a physical retail store. You and your employees may be great at selling and marketing online, but do any of you have any experience with the level of customer service a physical store will require?
Ask yourself if you can handle cash sales and supply. How about inventory and scheduling? Maintenance? What about physical security? Are you capable of providing the leadership and direction required of a store manager for it all to work smoothly? If you can’t, hire someone who can to avoid your pop-up descending into chaos.
Visitors Are Already In Shopping Mode-
One benefit to locating your pop-up store in a mall or other retail area is that it will likely draw people in who are already out shopping. This is a good way to introduce the brand to people who are more inclined to make a connection in person compared to an online interaction. The physical encounter also makes later purchases (in stores and online) more likely and reaches new customers who might not shop online at all. A pop-up store can mean great exposure. Even if the sales aren’t impressive, the presence can drive later sales to your brand.
There’s a lot to consider before signing a lease. Is the location zoned for what you want to do? Make sure before making any final decisions. Is the rent reasonable? Don’t choose a pop-up spot where the high rent negates your profits. You may not be picking a spot in a mall or other high traffic area, but be sure you’re picking a spot that isn’t a waste of your time because it’s too isolated.
Granted, your pop-up store may be part of your overall marketing strategy, but you still need to get the word out in a variety of ways. Social media, flyers, and maybe even a newspaper or television spot could be good options. Ask yourself if your pop-up is worth the time it will take to market it. If it’s not, you may be wasting one of your most valuable resources, your time.
Pop-up shops can be a great way to boost your sales and exposure, just make sure you’re prepared for the work it requires to be a success. They can also be a good way to ease into the brick-and-mortar retail world.
Looking for that perfect location for your retail business? Our professionals here at Coldwell Banker Commercial Wallace & Wallace are ready to help. Call us today to learn more about your options!