According to EE, pop-up retail now contributes £2.3 billion to the UK economy. The British telecoms brand also reported that pop-up retail is increasing at a much faster rate than first predicted. An annual report into Britain’s Pop-Up Retail Economy showed that the sector is now growing at a rate of 12.3%, compared to 8.4% in 2014.
Pop-up stores are becoming increasingly popular and provide retailers with a number of benefits.
Why is pop-up so popular?
The popularity in pop-up retailing is being attributed to a rise in the number of visitors to pop-up stores and an increased average spend. The research carried out by EE found that 44% of respondents had visited a pop-up within the past year and were spending £8 more a month than they were in 2014.
Pop-up Britain
According to the figures, the UK is now hosting more than 10,000 pop-ups, which employ around 26,000 people. It’s also being reported that 10% of retailers plan to open their own pop-up experience in the next five years.
One of the reasons why pop-up stores are becoming increasingly popular is their flexible nature. Using an exhibition unit, exhibition trailer or shipping container, retailers can set up stores virtually anywhere that their target market exists. They give customers the opportunity to shop when and where they want, which is fantastic for increasing their competitiveness and generating higher profits. The key to success is all about meeting customers’ needs and that’s exactly what pop-up retail does.
Testing new ideas and markets
Another benefit of pop-up stores is that they give people with new business ideas the opportunity to explore and test them. They don’t have to make the same commitments or investments as if they were setting up a traditional store, making it a far less risky approach. If it’s a success, they may continue to head down the pop-up route or they may choose to establish a traditional store instead.
Over the last couple of years, many online retailers have tested the water by offering a pop-up experience to customers. It gives them a chance to see if the market is there and whether in fact they’d like to be able to shop in-store as well as online.
But it’s not just new businesses, online brands and start-ups that can benefit from trialling the pop-up experience. Pop-up retail is a viable platform for established businesses looking to engage with customers in a new, exciting and innovative way. It also gives retailers the chance to test new markets in new locations. If the market is there, the pop-up store may give them the confirmation they need to grow and expand into new areas.
Challenges of pop-up retail
Of course, this won’t be without challenges. Pop-up retailers have to deal with a number of issues such as unreliable Internet connections, processing card payments, managing stock and carrying out real-time promotion using social media channels. Retailers need to be willing to invest in the right technology to ensure they can meet their customers’ needs and offer the ultimate experience.
They also face the challenge of co-ordinating their events and finding the right event structure to deliver the optimal pop-up experience to customers. Essentially, pop-up retail can make or break a brand, so they need to get it spot on. Choosing the right location and venue is absolutely crucial to the success of any pop-up retail store and that’s where The Event Structure comes in. We can assist brands in creating a successful pop-up retail experience through the provision of flexible event structures like an exhibition unit, exhibition trailer or shipping container. Below you can find some more tips and advice on how to deliver the ultimate pop-up experience.
Delivering a pop up retail experience
Over the last year or so, we have seen a steady rise in the confidence and optimism of retail clients who are looking to maximise the increase in consumers’ appetite for new products and affordable premium goods.
Many brands, traditional and online retailers are taking the innovative route of creating their own pop-up campaigns to reach new and lapsed consumers. Pop-up stores using exhibition trailers and upcycled shipping containers are proving a highly effective and affordable way of marketing their products and generating sales.
However, in order for a pop-up campaign to be successful, the brand needs to offer customers a unique and memorable experience. So how do you go about that? Well luckily for you, we’ve provided a few tips and hints below.
Understanding your customer
You will know that the key to a successful pop-up campaign is to achieve high levels of customer engagement. The more you engage your audience, the higher chance you have of them:
- Getting a positive impression of your products and brand
- Trialing and buying your products
- Sharing your brand experience with their network
But in order to engage your target audience, you need to have a good understanding of them. It’s critical that you build your pop-up campaign around your audience, rather than around your brand. You need to know who your target audience is, what they value, where they are located and the type of experience they’re likely to engage with. Understanding your prospects will enable you to focus on identifying the optimal locations to reach them – this is absolutely critical.
Choosing the right event structure is crucial to your pop-up’s success.
Choosing the right event structure
The environment selected to execute your pop-up campaign will have an enormous impact on the experience offered to customers and will go a long way in determining its success.
There are a number of options when it comes to setting up your pop-up store, including promotional vehicles, exhibition units and upcycled exhibition containers. It’s all about choosing the option that:
- Fits within your budget
- Creates impact with your consumers and prospects
- Demonstrates products professionally
If you’re looking to take your pop-up campaign mobile, it makes sense to utilise a promotional vehicle or exhibition unit, whereas if you’re leasing an outdoor space in say a town centre, an exhibition shipping container would work equally as well. Either way, you’ll be able to fully customise your pop-up structure to make it attractive to your target audience and appropriate for the experience you plan to offer.
Upcycled shipping containers provide the perfect structure for pop-up campaigns.
For more information on our exhibition units including self-drive units, roadshow trailers, customised containers and mobile showrooms, get in touch with The Events Structure team today on 0161 821 1010.