Although pop-up shops are known for being “temporary” and tend to have a reputation of “being bogus.” Often times, consumers aren’t familiar with the brand or the product that is being sold inside of these limited shops; and companies have a hard time keeping this funnel flowing. But why are successful brands investing more than ever into this this way of selling? What is the hidden value that everyone else is missing? Most importantly, how can you become successful, get more people interested in your brand, and see an UpTurn in your pop-up shop?
Our strategists have kept these factors in mind and perfected the do’s to make this work for the rest of us. The list is small, but proves to be directly what we need to increase value for testing the product market.
⇒ Highlight Product
Pick a product, or products, that are most appealing to your ideal customer to take home. These items must be something your customer is passionate about. Think about pieces that are great for quick interest, something they can use right now. For example: scarves, mobile app, shoes, coupons, or even a branded coffee mug. This way your company is remembered, enticing the customer to seek out your brand’s store, website, or social media channels.
This seems to be the most critical aspect to having a lucrative outcome. Once you’ve figured out which product to highlight, it’s all about your audience. Choosing the area in which your ideal client hangs out directly increases the likelihood of a consumer becoming responsive.
⇒ Time of Year
We all know that the holiday season is the highest grossing time of the year, but the other window of time that produces increased sales is summertime. When the sun is out, people want to spend their money, they are happier, and they are more inclined to heat up sales at your pop-up shop! Overall foot traffic will inevitably double and do to this simple phenomenon your sales will magically increase. The magic is timing and timing really is everything. Senior Account Manager, Pete West, tested this theory with products sold through I AM ART (client of UpTurn Agency). When showcased during summertime, sales massed over 30%, compared to the beginning of spring. “My customer flow doubled during the summer, giving me more people to inspire, more people to talk with, more questions, and just an overall abundance of more. This was showcased in our overall sales—daily. On days when the weather was permitting people were more apt to come up to me and say hello. They even had more time to focus on the product. It really fired up sales and increased profit margins (on those days!)” said West. Our strategists suggested to forget about slow months and focus on months where you make the most profit. This way you can construct a well thought out plan throughout the year, without closing your profit margin.
⇒ Price Point
Pop-Up shops are by far the cheapest way to sell products offline. Without having overhead of a store, you find yourself saving the budget for other things and you don’t have to spend a fortune. Most companies use their time with pop-up shops as a way to save money on retail space, long-term employee contracts, unnecessary merchandise, and general marketing campaigns. Instead, companies can focus on a direct target market with a specific product. The statistics become straightforward and from there any company can spotlight if a product is worth expanding on.
Overall, temporary spaces attract a ton of foot traffic and have proven to turn first-time buyers into loyal fans. Quick profits are made, product choice is tested, and customer focus remains key. Take this as untraditional, but financially speaking, this in-person tactic creates a spike in revenue when executed efficiently.
As pop-up stores and events are slowly making their way towards becoming the main marketing tools with their quick service, buyers are becoming more familiar with companies and their cultures. The layout for these shops also gives clients an immediate buying fix by being able to “shop and go”. There’s no nonsense when you’re walking into one of these pop-ups.