The retail landscape in Sydney is moving into unprecedented waters; lock out laws are lifting with a redirected focus on pop ups and the utilisation of Government buildings. With new opportunities to activate your brand on the horizon, Sense is sharing insight into how to make the most of your retail pop up.
Psychology plays a huge part in the success of pop up retail. The joy of discovery is one factor. When we discover or experience something new, our brains release the same chemical that causes us to be happy.
Supporting the path to purchase is our deep-rooted FOMO (fear of missing out) that we have all experienced at some point. When experiences are temporary and fleeting, it’s more likely that visitors to retail will want to make a purchase.
Pop ups additionally present many benefits to businesses of all sizes, one of the key points being flexibility. By investing in pop ups, you can work with flexibility around duration, cost, and materials. Other measures of value include exposure, sales, customer retention, and opportunities for remarketing.
No, pop up retail isn’t new. In fact, this guerilla method was popularized in 2004 by fashion retailer, Comme des Garçons. Although now known as a mainstream means for retail, it’s not often that it is executed well. So how do you nail your pop up shop to make the most of your opportunity?
COS continues to be one of our brands for the inspo books. The brand worked with an experimental architecture firm in Los Angeles to redesign an empty industrial building. Two clothing racks were put on display amidst a minimalist floor plan, bringing focus to the elegance and simplicity of their product design.
LA is proving to be the hotspot for innovative pop ups, being the playing field for Australian online retailer, Showpo. In March 2019, Melrose Ave became home to Showpo’s very first US pop up to engage and grow their American market.
Four Pillars activated their brand at stores across Sydney and Melbourne during the Christmas period. In order to reach new audiences and increase sales over the holiday period, Four Pillars engaged pop up stalls in three key stores where customers could taste and purchase the distillery’s limited releases.
When developing your strategy for pop up retail it’s important to keep a few key points in mind to engage the right opportunities for your brand.
Establish your objectives. Your business objectives should be driving every decision made for your pop up. Do you want to increase sales in a short term period? Are you raising awareness for your brand? Is it important that you capture data? Be clear and ensure your team is aware of the objectives at play.
Location is key. Choosing a location with substantial foot traffic is optimal for reaching wider audiences that may not yet know your brand. Ie. A shopping centre, mall, tourist attraction.
The next challenge is engaging people with your store. Be unique. Design something that is original and eye-catching to attract attention and draw passersby in. It’s critical that your branding is visible, consistent, and memorable.
Measure the success of your pop up. The way you measure the success of your activation must be in line with the objectives you set at the beginning. If you’re clear and attentive around the way you achieve your results you can measure the return on your experience by the dollar.