Friday, October 15, 2010
Pop-Up Retail: What's that all about?
One sure way to create an artificial demand and make the news at the same time is to host a pop-up sale. Retailers are using them more and more to appeal to collectors and those consumers with more time of their hands and money to burn. Known as pop stores in the US and pop-up shops in the UK; pop-up retail is big business. The venue is usually a vacant space which is used as a temporary shop front. The idea is make customers feel special and privileged to have found ‘the event.’ Often news of a pop-up is broadcast through the internet to create a collectors buzz. Pop-up retail has been used to sell discounted wares like books but has become more and more popular retailing specialist shoes and other apparel. One reason for the popularity of Pop-Up Retail is the escalating rents shop keepers need to pay particularly in shopping malls. A wealth of significant empty-space in city centres gives opportunity for both entrepreneurs and big brands to retail their goods without the overheads of a five-year lease. Even Gucci are opening temporary pop-up shops (called Gucci Icon-Temporary) in seven cities around the world (Miami Beach, New York City, London, Berlin, Paris, Hong Kong and Tokyo). One major drawback with Pop-ups is return policies are often much stricter. When a temporary store is part of a chain however you can usually return an item to another location but one-time operations do mean consumer beware.