BEST PRACTICES 8/18
The emergence of pop-up stores has been dramatic over the last several years. They have evolved and serve a variety of purposes:to build brand awareness, create an “event” to engage the customers,and drive revenue,to name a few.
The number of “doors,”formats,and locations vary.Some are small momentary spaces while others may occupy several thousand square feet in sometimes unexpected places. Time frames for these pop-ups can range from days to seasons.
Based on the execution, some have been enormously successful while others less so. I can personally reflect on the several years of planning and executing that went into the two week long pop-up sales each season for Barneys New York in New York City and Downtown Los Angeles.
These were incredible, well-attended events that were held in airport hangars, piers, basements,and leased event spaces. They were wonderful opportunities to connect with our customers,build new relationships, and inspire loyalty. These events also served the purpose of liquidating end-of-season merchandise while driving revenue.
There are several critical elements to keep in mind when considering a pop-up of any size and purpose.
Develop an informed strategy.
Make sure you have mapped out an intelligent 360°business plan that includes a clear mission statement, measures of success,and an understanding of resource requirements by discipline.
Have the best team in place.
It must be embraced from the top that this is a people business, and that is just as important as the product or services offered. Some companies lose sight of this and relegate personnel to operations and/or human resources. Make sure there is a sensible organizational structure and observe/coach with consistency. Client engagement is crucial.
The product or service you provide is key.
Depending on the focus of the pop-up,know your customer will determine the product or service you offer by the width and depth of the assortment you present.Other dimensions to factor in are online access, pricing,and replenishment.
The space you occupy must work.
With a clearly defined collection of product/service offerings,make sure the square footage you have will “tell the story”well. This should be accompanied with sensible fixtures, signage/graphics, open sight lines,and other elements that will add to the visit experience.
Marketing can make all the difference.
Ensure that you understand who you are targeting and how to reach them. The outreach to customers and prospectsshould be through a variety of means,and whenever possible,highly individualized.
No short cuts.
Enjoy this related article: https://blog.thestorefront.com/what-exactly-is-a-pop-up-shop/