5 Things to Remember Before You Start Planning Your Pop-up Shop
1)Pick an end goal
Nail the big picture first, and then you can start to think about the details. Generally, there are three major goals of a pop-up:
Additional Revenue: If you are an e-commerce business, experimenting with physical locations can be a low-cost mechanism to test new revenue streams and markets. If executed well, it could also be a way to increase profit. If you already have a retail store a pop-up shop is a great way to test out a new location, new product, or customer market before actually opening a permanent space or launching the product or collection fully. It gives the brand the chance to make some money, get feedback and build excitement.
Engage with existing customers: Online brands can have difficulty building personal relationships with customers. Creating a physical space to interact with your customers is a great way to re-engage on the human level and develop personal relationships with your customers.
Brand Awareness: A pop-up is an amazing tool to provide new audiences with an unforgettable experience, turning them into lifelong brand ambassadors. Never underestimate the magic physical retail experiences can provide for a customer.
2.) Foot traffic is everything.
Foot traffic and accessibility to parking or public transportation is important to think about when picking a location. The busier the foot traffic at the location, the more opportunities to sell and drive revenue. Luckily, there are multiple types of pop-ups that can give you a varied source of foot traffic, consider the following pop-up locations: Shop in Shop, airstreams, existing vacant retail spaces, and shopping malls. Each location comes with its pros and cons, determining the overarching goal of your pop-up will help determine which location best suits your brands’ needs.
3.) Brand Clarity
Find brand specific words that each employee can use when communicating the brand story. A good strategy to start is to find the core words that will describe the feeling you want customers to feel as they enter your pop-up. Consistency in word choice will help make the message clear when the customer interacts with multiple employees. Take the friction out of the customer's life when they describe your brand to their friends, give them the verbal tools to become a strong brand advocate.
4.) Instagrammable layout
Think about your merchandising and store layout from a digital perspective. Brands must think about designing their store in this way to grab attention from online audiences. Brands that are able to jump out on an Instagram feed will have a better chance of converting eyes online to feet in their store. Consider small, low lift things your brand can do to achieve this - an excellent example is Everlane, who uses their dressing rooms to uplift their customers with small phrases and sayings. You will be surprised to find how many people are willing to share your story with others without you having to ask.
5.) Create a sales plan.
Creating clear monthly, weekly, and daily sales goals for your team and your pop-up will be crucial in evaluating success. Your sales plan should consider the following:
- Sales forecasting and goal setting
- Average transaction price and units sold per transaction
- Market and customer research
- Leveraging existing customer relationships and brand partnerships
If done correctly, a sales plan empowers you to spend even more time on growing and developing your pop-up, rather than getting caught up in the gritty details of the day-to-day developments in sales. Armed with this information, you will be able to quickly identify upcoming problems, sales droughts, or opportunities - and then what to do about them. While it takes a lot of work, answering these questions will allow you to take your pop-up to the next level.
Once you have created a sales plan, making sure that this is visible to your team with providing your team with the toolkit necessary to attack each day with a clear understanding the brands immediate and long-term goals are.