Temporary stores have started to emerge as a solution for the cash-strapped brand. With all the empty properties about, brokers and landlords are more willing to take some rent for a pop-up store, than leave the space empty waiting for a permanent tenant. Brands are using these pop-up spaces as a way to create buzz, test new concepts and evaluate a new neighborhood or city they are looking to launch in. With rents now affordable again, these shops are being views “as a logical, and even inexpensive, marketing tool.”
High-end brands like Hermes, Emilio Pucci and La Perla and have started to embrace the concept, as have Gap, Seven for all Mankind and Daffy’s. One extremely successful example of a pop-up store was The New Jersey Division of Travel and Tourism which opened a shop on Broadway between 11th and 12th streets in Manhattan. The temporary shop garnered nearly $1 million in media, between the 46 broadcast segments and 21 print and online placements they received. They also had an average of 1,000 visitors go through the store each week and 500 pieces of collateral were handed out daily. The bulk of the budget was spend on the $20,000 a month rent, but with the figures listed above, the efforts more than paid for themselves.
AdAge has provided a list of 5 things to consider before taking on a venture like this for your brand:
- Do your research – why is the space empty? Lack of traffic in the area? Some issue with the property?
- Don’t scrimp – make sure your budget keeps within the brand’s image, if you are a high end brand, you will need to spend a little more building out the space
- Get creative – as more brands start the pop-up store you will need to make sure your space still attracts attention
- Don’t expect a profit – the purpose of the pop-up store is to create buzz, not profits
- Take a chance – don’t be afraid of trying a new neighborhood, new design, new product or new marketing tactic. Pop-ups are temporary so if your gamble doesn’t work, you haven’t boxed yourself in
For the full article, go to: http://adage.com/article?article_id=138704