07/17/2024 | Press release | Distributed by Public on 07/17/2024 13:57
Who doesn't love the feeling of a good pop-up shop purchase?
There's something exciting about nabbing a rare product from a pop-up shop. And it feels good to support small businesses, instead of the top end of the retail town.
And for newbie retail business owners and seasoned ecommerce entrepreneurs alike, pop-up stores can be a great way to take your business to the next level.
Right here, we're going to take you through some tips to give your pop-up shop the best chance of success. We'll look at:
First, let's explain what pop-up shops are, for any of you first-timers reading this.
Learn how to thrive with the right technology and approach to customer experience.
A pop-up shop is a temporary store.
You open it up for a finite period of time.
For example, you can open your pop-up shop for a few months in a mall or for as little as a day at an outdoor event, like a community festival or market. Pop-up shops give experienced and beginner retailers the opportunity to:
Ray Ko, the senior eCommerce manager of ShopPopDisplays, believes pop-up stores have become more relevant during the pandemic too.
"The great thing about operating from a pop-up store during this pandemic is that it removes the pressure to engage in a long-term lease," said Ko.
"Without the hassle that comes with a traditional store, you can showcase your product, build brand awareness and extend a human connection to your consumers with your physical presence," he added.
This leads us to another question, for budding retail entrepreneurs and long-term retail business owners.
"The best moment to plan a pop-up store is when the store owner is looking to reach a new audience and gain brand exposure," suggests Patricia Lopez, the founder of Dirt Pitch Apparel, an eCommerce brand that focuses on sportswear apparel inspired by retro soccer culture.
"Doing it immediately after starting up might be tricky and dividing your attention at such an early stage might end up damaging your store."
As we've talked about before at Lightspeed, the pop-up shopis no longer just a retail trend. It has become a useful tool in the toolbox of retailers who are keen to get face-time with customers, leads, and other retailers.
Whether you're opening a pop-up shop for just a day, or for a little bit longer, here are eight tips to help you get the most out of the experience.
Prioritize high foot traffic areas like busy streets, shopping centers or popular markets.
Take note of the demographics of the area to ensure they match your target audience. For instance, a trendy fashion pop-up may thrive in a youthful, bustling neighborhood. Additionally, align your shop with local events or festivals to capitalize on increased visitors.
Always visit potential locations during different times to gauge foot traffic and ensure visibility.
Launching a successful pop-up shop requires more than just a great location and products; effective marketing is essential to attract customers and generate buzz.
Try reaching potential customers with more than one strategy. Here are three to consider:
Flexible POS systems like Lightspeed enable swift and secure transactions, reducing wait times and improving customer satisfaction.
A pop-up shop POS needs to be as powerful as a standard POS-you're still running a store, after all. Take Imagine Exhibitions,for example: their traveling exhibits are supported by pop-up shops everywhere they go. They need a POS that's easy to train on, that connects with their NetSuite ERP, that connects them to their data and enables monitoring and management from anywhere. With Lightspeed, they get all that, no need to compromise.
No matter what you pick, make sure you can accept various payment methods, including credit cards, digital wallets and contactless payments, catering to diverse customer preferences.
Lightspeed also offers robust inventory management, ensuring that you always have accurate stock levels, even in a temporary setting. This helps prevent overselling and keeps customers informed about product availability.
Practice makes perfect, so get access to the physical spacebefore the first day, if you can.
And if you can't get there before the first day of your pop-up, get there early, to have plenty of time to set up. Some pop-up situations, like markets, may only give you an hour to 'bounce in'. That doesn't leave you much wiggle room for any last-minute challenges. So plan ahead.
For example, tables are often first-come, first-serve. Get there early to position yourself in a place where you know people will see your table.
Another tip: Always bring your own fold-up table. Many pop-up venues will provide tables, but if they don't, bringing your own prevents some last-minute stress on your part.
If clothes are your thing, you'll need some clothing racks. If you don't sell clothes, you'll need other ways to properly display your items. Get creative. Think shelves, trays, boxes and other containers that will show off your products in the best light.
You might be tempted to stack all your goods on a table or rack if this is your first-ever pop-up. Yes, that may make it a little easier to keep all the sizes there for your customer to browse and buy. But in these strange old times of ours, you probably don't want folks touching too many items.
Spillages do happen at pop-up stores too, especially if your pop-up is located near a food market or café. Keep the majority of your stock behind you out of sight, but put some signage out to let everyone know you have more sizes available.
"The main ingredient for a successful pop-up store is a laser focus on product selection," suggests Lopez. "If you set up your pop-up with many stock-keeping units (SKUs), it will feel overcrowded and messy. Instead, work around your main products, and be sure they tell a coherent story and make sense while displayed together," said Lopez.
You'll need a quick and easy way for people to pay you, too.
Companies like Lightspeed can help you accept and reconcile card payments while you're on the go. More experienced retailers may want to go the whole hog, and use portable iPads and displays to show off their pop-up with some pizzazz. But start-up retailers can get by just as well with a portable POS systemthat will help you accept card payments, keep track of your inventory and reconcile your payments against the right SKUs.
And don't forget cash. Yes, more and more people are using credit cards-70% of people prefer them-but that doesn't mean a decent amount of people won't buy with cash. In fact, many people assume that pop-up stores only accept cash. Think about getting a lockbox and having the right quantities of notes and coins on hand for giving people change.
What do you need to help people check out? You're going to need bags. You could have tissue paper to wrap things. Branded bags, ideally, would be awesome. That way, when people move off, they have your bag with your brand on it. Other people may see it and it may spark some curiosity.
Giving some customers free samples or accessories is an effective way to engage them. It's important to make sure that what you're offering doesn't hurt your profits too much. Giveaways might not work every time and it might be helpful to limit them to your first 20-30 customers.
If you have a flair for branding and marketing, then you could look at setting up drop sheets with backgrounds where people can snap a quick photo of themselves for Instagram or other social media channels. It doesn't need to be complicated. It can be as simple as encouraging people to tag you on social media with a photo of their products or goodies.
Pop-up shops are great for exposure and networking.
Hey, we get it, you want to make money. Especially if you're paying to be there. But your number one goal should always be to create future leads.
Sometimes you won't make as much as you thought you were going to make for that day. But networking is worth it.
After your pop-up shop concludes, conduct a thorough post-event analysis.
Start by tracking key metrics such as sales volume, foot traffic and conversion rates to measure performance. Compare these numbers to your initial goals to assess success.
Additionally, gather customer feedback through surveys or comment cards to understand their experience and identify areas for improvement. Analyzing social media engagement and online reviews can also provide valuable insights.
By combining quantitative data and qualitative feedback, you can refine your strategies for future pop-up events and enhance overall effectiveness.
Setting up a pop-up shop requires careful attention to legal requirements, permits and insurance.
Here's a breakdown of what you might need to have on hand:
Always check with local government offices for specific requirements in your area, and consider consulting a legal professional to ensure full compliance.
Pop-up retail shops involve a different kind of mindset. Think of them a little differently than your brick-and-mortar store or your eCommerce website, where driving sales and cart conversions are the order of the day. Pop-ups are experimental. They're a learning experience.
Watch a demoto see how Lightspeed can help make your pop-up shop a roaring success.
Depending on your location, you may need a temporary business license, vendor permit, health permit (if selling food), fire department permit and a sign permit. Check local regulations and consult with a legal professional to ensure full compliance.
Select high-traffic areas such as busy streets, shopping centers or popular markets. Consider the demographics of the area to ensure they match your target audience. Visit potential locations at different times to gauge foot traffic.
Utilize social media to announce your pop-up, create event pages and use engaging content. Send email campaigns to your subscriber list with exclusive invites. Partner with local influencers to increase visibility and attract more customers.
Create an inviting and functional space with eye-catching displays and clear signage. Use shelves, racks, and tables to organize products effectively. Ensure there's enough space for customers to browse comfortably and interact with your staff.
Source products from reliable wholesalers or local artisans. Use a mobile POS system to track inventory in real-time. Start with a limited selection of best-selling items and replenish stock based on demand. Consider renting display equipment to save costs.