Flash or Pop-up retail, also known as pop-up
store (pop-up shop in the UK) or flash retailing, is the trend
of opening short-term sales spaces in Canada, the United States, the United
Kingdom and Australia. It is also popular in Western Europe, more
specifically Paris, France.
This breed of pop-up shops typically host fledgling
businesses which were previously selling online, in local markets or at craft
fairs. Since so many shops (even at Main Street) are empty due to the economic turn down savvy entrepreneurs can negotiate profitable deals relating to rent.
It also presents them with the opportunity to gain experience and conduct
market tests without having long-term lease agreements.
This phenomenon is also known as "flash retailing".
Even big retailers love it due to its obvious benefits. It allows them to
showcase their new brands or test the waters for their exciting and/or innovative
products.
According to Emma Jones, “the genuine pop-ups are bringing
much-needed variety and flexibility to our high streets. They are not just a
passing fad."
The concept is not new. Vacant of Los Angeles, CA was the
first company to develop the concept of pop-up retail or temporary retail shops
way back in 1999. A limited edition of products was on sold. Once those
products were sold out (usually within a matter of hours) the store would be
closed until shop owners received more products that would enable them to
reopen the store. Vacant considered closing stores permanently after the
merchandise was sold, and then move on to another targeted destination. This
made sense since its consumers traveled long distances to niche retailers to
purchase items. Up till now, Vacant still provides pop-up retailing and brand
marketing.
Real estate companies and landlords are looking at leasing
short term real estate since it gives them income until the market picks up. Pop-up
stores fit the bill perfectly.
Some brands, such as Target Corporation, Kate Spade, Gucci, and LouisVuitton, use pop-up shops as part of their campaign since
it is highly effective within a reasonable budget. Incubator program such as Boxpark in London,
UK and PopupHood in Oakland, CA are incubator companies that have also embraced
the concept to get noticed.
So watch out for a pop-up shop success story near you! If
you were involved with pop-up shops or flash marketing, please share your
thoughts! I will be happy to cover you in my next blog!
(Image courtesy of Richard James at ftape.com)
