DDi - July 2010 - (Page 14)

14 | Quick Tips ways to successfully launch a pop-up shop hile digital media, social networking platforms and a multitude of communication gadgets have been cited as major contributors to the shifting retail landscape, these challenges are not met without new strategies and tactics to help navigate the daunting retail market. The overarching goals to increase brand recognition and personal connections with customers have remained the same, but an increasing number of retailers have recognized the “instant gratification” nature of the consumer as the impetus toward temporary retail outlets. More commonly referred to as pop-up shops, this retail platform will likely be one of the most important elements of a successful retail marketing campaign in the years ahead. Taking your products to your customer, as an online or bricks-and-mortar outfit, will give you a chance to build loyalties with customers before the competition does. And with so much commercial real estate space sitting vacant—10.1 percent according to published reports—this should be a fairly simple process. However, finding landlords with space for lease to temporarily house your company’s wares can be just the beginning of a hectic process, so keep the following tips in mind: W Victorinox Swiss Army’s pop-up store temporarily replaced a Keir Fine Jewellery location in Whistler Village, British Columbia, Canada, for two months during the Winter Olympics. to ensuring the success of a pop-up shop. This includes doing due diligence on area demographics, other retailers present in the neighborhood, visibility, foot and vehicle traffic counts and neighborhood safety. Speak to neighboring stores for the real scoop. with you to improve the space? These are key questions that need to be asked during lease negotiations, and will weigh heavily in ensuring the success of your pop-up store. Consider lease duration. How long a retailer should keep a pop-up store open depends on the business objectives and budget. Most pop-up stores are open for about three months. Make sure that you give yourself enough time to see results—at least three to four weeks. Brand the space. Knowing how you want to set up your store—what products and how much of them you will be displaying, as well as lighting, décor and theme—is critical in creating an atmosphere that speaks to your brand identity and that will leave a lasting impression on consumers long after the store is closed. Educate and train. A pop-up store is an excellent way to educate your customers on all that is great about your products. Make sure your sales staff is educated and trained on the unique selling points of your wares, and that they have a clear understanding of how you want them to articulate these points to customers. Follow up. Once you close your store, the benefits of having opened a pop-up shop can still be reaped. Retailers should take down e-mail addresses of customers who visited the store and conduct follow-up outreach, either through e-mails or social media platforms, to keep the customers engaged and to solicit feedback. —Christina Norsig is founder and CEO of PopUp Insider.com, an online exchange specifically created to connect landlords with vacant retail space and retailers in search of a temporary home. www.ddionline.com Start early. By planning several months out, you can increase the effectiveness of your popup shop and save considerable time and money. Make sure you create a budget and identify your objectives as early as possible. Know your landlord. Has your landlord Research the location. Finding the right neighborhood or store location is critical | July 2010 ever done a temporary lease arrangement before? How accessible are they? Are they willing to work Photo: Courtesy of Victorinox Swiss Army http://www.PopUpInsider.com http://www.PopUpInsider.com http://www.ddionline.com

Table of Contents for the Digital Edition of DDi - July 2010

Display & Design Ideas - July 2010
Contents
From the Editor
Newsworthy
Shopper Insights
Quick Tips
Greentailing
Editor's Choice
Design Snapshot
Channel Focus: Health & Beauty
CityCenter
State of the Fixture Industry Roundtable
Products
2010 Fixture Leaders Listing
2010 Fixture Leaders Company Index
Right Light
Product Spotlight
Advertisers
Calendar
Classifieds
Think Tank

DDi - July 2010