Pop-Up Shops: What They Are and Why You Should Consider Them First appearing in the early 2000s, the pop-up shop has continued to gain popularity and market share in the retail world. Now, ten years out, more and more companies and entrepreneurs are getting into the pop-up store game. Everyone from artists to major retailers have tried their hand at the model and their successes have only ensured that it will continue to be a part of the retail experience in the city for years to come. A pop-up shop is a retail store that is purposely only open for a short time. This store usually operates the same as any other retail storefront, with merchandize on display and employees to help customers find what they are looking for. After a set period of time that can range from anywhere from an hour or two to a year or more, the store will close down and vacate the space so a new store can move in. The pop-up shop model is one that can help everyone involved in the retail market, including merchants, landlords, and customers. Merchants benefit by getting a sharply discounted rent rate by renting a space that the commercial landlords might have had difficulty finding a permanent tenant for. Commercial landlords benefit by getting some rental income from the space that would otherwise sit vacant. For shoppers, the model gives them access to stores that would otherwise not be able to afford to do business in their areas, bringing them new products and services.Why Products Aren't As Bad As You Think
This option isn't the right one for every prospective business owner, of course. Ideally, the business needs to be one that doesn't want a more permanent location. For example, online merchants may choose to open a physical store for a short time to introduce their products to a new audience who might not normally shop online. Designers and artists might open a shop to showcase their new works, using the storefront like a gallery. They are also a good place to sell limited edition merchandize or specialty items that won't be available for long. Another type of business that benefits from the model is the seasonal business. Halloween stores are probably the most recognizable of these types of seasonal stores, but retailers that specialize in things like beachwear or holiday goods might also want to try a pop-up store.
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A pop-up store is also a great way to test market in a new area for companies that don't already have a retail presence in the city. During their run, they can see how well specific products sell in the area, or how well their type of goods or services perform in general in that market. The investment is significantly smaller, as it doesn't involve long-term rents or employee pay, making it less of a risk. Customers also respond well to the excitement of a short-term store with limited run products.