Online retailers like Amazon have completely transformed the way we go shopping. We now have access to a 24-hour selection of everything we could possibly want, and the expansion of warehouses and logistical hubs mean that our biggest retailers can ship our items to us quicker than ever. If you've fully embraced the online marketplace, you're not alone. Millions of people are ditching brick-and-mortar stores for internet shopping, and big box companies are feeling it.
The good news about competition is that it breeds creativity and ingenuity. Brick-and-mortar retailers have to now come up with exciting new ways to keep their customer bases, and one of these popular methods is pop-up shops. They used to be more prevalent for seasonal sales like Halloween, now they’re trendy, effective, and easy to implement, making them the go-to marketing strategy for retailers. Here are some reasons why pop-ups are brick-and-mortar retailers compete with online shipping.
1. Pop-up shops accomplish a lot for a cheaper price
Retailers are always looking for the biggest bang for their buck and pop-up shopping does just that. Stores are quickly assembled in a high-traffic area where retail companies can spread brand awareness while enticing customers with limited-time deals. Pop-ups are also great for generating buzz around a specific brand. Companies getting ready to unveil a new item or brand will often do it through a pop-up store dedicated solely to that product. Not only does it help boost brand awareness, it creates an irresistible level of exclusivity.
Simply put, a lot can be done through a pop-up marketing and sales campaign. And best of all, it’s all done without long-term contracts and expensive rental fees. Since pop-ups generally last anywhere from a few days to a week, companies don’t have to worry about spending huge amounts of money into their store. Talk about a safe investment!
2. Pop-up shops let you test the waters
Thinking about adding a new store on a specific side of town but aren’t sure yet if it’s going to be a good business move or not? Enter the pop-up shop. These transient stores let companies test new areas or try out new products without making a dramatic change to their current stores.
Pop-up stores act as a sandbox where companies can test sales and marketing strategies, making it easier to tweak their current campaigns.
3. Pop-up shops are great for boosting sales
From a psychological perspective, pop-up shops are brilliant. The fact that they’re “here today, gone tomorrow” plays on people’s fear of missing out, or FOMO. This tactic is so effective that people who aren’t even interested in what the pop-up store is selling will still have a look around because of FOMO. Since most products are advertised as being “limited edition,” people are more inclined to purchase items and be among the trendy people who’ve visited the pop-up shop.
The good news is that popular-selling items typically appear on the storeroom floors of popular locations a short time later, so don’t let yourself get too down in the dumps if you missed your opportunity to visit a pop-up.