Pop-up shops, also known as temporary retail, are more popular than ever before!
They’re a great way for small business owners to showcase their products to a local or regional community.
Not only that, they’re also are a fertile ground for businesses to test dynamic product offerings, venture into new, exciting markets, build their offline brand identity, and make that all-important emotional connection with customers.
Interested in learning why you should open a pop-up shop? Check out these four key benefits. Be sure to read them all to discover benefits that you just can’t ignore.
Pop-Up Shops Are Cost Effective
Let’s get the primary concern for most businesses out of the way first. Cost. Pop-up shops are one of the most effective offline marketing strategies because they’re high impact and won’t break the bank. Why? Less square footage means less cost. For just a small amount of money, you can get in front of a large audience.
United Merchant Services offers card terminal’s to be used at pop-up shops. On average, we save business owners £1,500 per year when compared to other terminal providers.
Pop-Up Shops Help Businesses Test Out New Markets
If you’re looking for ways to appeal to wider demographics or attract more customers to a static retail shop, pop-up shops are a great way to test the waters to see how you’re likely to fare. When dipping your toe into a new market, it’s always wise to build brand awareness before committing to leasing a static store.
Pop-Up Stores Give Business an Offline and Online Retail Outlet
E-commerce business can suffer from a lack of personal interaction. In today’s hyper-competitive retail market, it’s paramount for businesses to employ a multi-channel sales strategy.
According to studies, multi-channel strategies help businesses to retain 73% of customers and, as we all know, retention increases revenue. But pop-up shops offer more than just that. They allow customers to learn more about your business, it’s attributes, ethos and history. This helps to build trust – an attribute that every small business needs to have.
Why not invite customers to share their experience of shopping at your brand on social media? You could focus on stellar one-to-one service or your ability to offer swift card payment services using UMS’ card terminals? Remember, people trust opinions just as much, if not more, than what a business says about itself.
Pop-Up Stores Give Businesses an Opportunity to Experiment or Get Creative
Static shops have specific formulas to achieve sales. Display best-selling items where customers can easily see them. Make sure your inventory reflects what you’re all about and so on. For some businesses, this can be a mite rigid. You may want to take a risk or get creative with your promotions.
Pop-up shops present the ideal opportunity for businesses to get vital customer insight into what they want and expect from your business. Don’t be afraid to ask customer’s questions. Why not ask your customers to complete a short survey. Be bold and you might just get valuable insight on anything from how customer feel about your pdq machine or what they feel about your autumn product range.
Understanding what resonates with customers is essential to long-term prosperity. Why? The insight that business owners get will help business owners make better commercial decisions. The informal environment that pop-up shops create encourage customers to be more forthcoming with the opinions.
So, there you have it. Four clear reasons why opening a pop-up stall could be the best business decision you could make.
Don’t forget too, that a pop-up stall without efficient and responsive card payment solutions isn’t likely to have customers lauding your business. If you want to get your hands on a GPRS machine with the best signal strength in the UK wherever you are, get in touch with a business that’s committed to helping small businesses grow – United Merchant Services.
To find out how our card machines can help your business grow this autumn visit our Card Machines section here.