How To Make Use Of Empty Computer Labs

A computer lab acts as the hub for teaching a whole bunch of students how to use a computer and various other skills, usually by a professional computer teacher. Along with taking classes, teachers can also use the computer lab for research or for creating technology-based projects. But what about all the hours when the computer lab is empty with lots of potential? There are plenty of ways to make use of computer labs that are not in use. This is how you can also make ways for additional income by putting classrooms for rent. After school and college hours, computer labs are mostly empty and remain without any use. It’s important to understand the full potential of owned spaces and realize the profit they can bring you by utilizing them effectively and efficiently. Here are 5 ways you can make use of your computer labs when it’s not in use.

1. Conduct Online Exams

Computer labs are the best spaces to conduct online exams with plenty of students appearing. This way, the space, as well as the computers, are being utilized in the best way possible. It also gives you the authority to supervise each student and help them correctly. Online exams need spaces like computer labs to be conducted properly. These are held for a few hours and so renting out computer labs temporarily will be the ideal way to go. Computer labs are also designed in a way that works best for online exams. Each computer will have well-functioning software as well as an internet connection that are essential for online exams. Instead of looking for classrooms for rent, you can actually use computer labs to conduct the exams.

2. Organize Meetings

Since computer labs are empty with a large seating arrangement, it can be used as an alternative for meetings, conferences and seminars. In case all the meeting rooms are occupied and you have run out of options, making use of a computer lab is your best option. A computer lab has more than enough space to accommodate a team. You can also make use of computers to present data and statistics for your meeting. Any kind of visual presentation is possible in a computer lab which is a plus point for your meetings and seminars. You can display your prepared presentation on a big screen or even It is also a great place for group discussions and brainstorming ideas.

3. Teach Your Classes

Tutors need a quiet and disturbance-free place to conduct a proper class. A computer can be the perfect tuition space for your computer classes. In case there is a shortage of classes, or you have to take an emergency class, computer labs can come in handy. A good alternative for classrooms on rent. Using the space for conducting classes is also a great way to earn additional income. Schools remain empty post-evening and also during the weekends. Using this time for extra classes and teaching sessions can be very helpful to both teachers and students. School computer labs will be the perfect locations for teachers searching for a classroom environment. It is very easy to find such spaces as many are already available for rent.

4. Hold Training Programs

Training programs of new techniques or new software require a large number of computers and a whole day. Time, space and a good number of computers are essential for a successful training program. Everyone needs to be in a quiet environment and together in one room. A computer lab is a peaceful and disturbance-free zone where tutors can effectively carry out training programs. Computer classrooms for rent are a good option for these programs. This is not possible in offices as they have other employees too. In offices and other spaces, there is constant rush and a lot of disturbance too. You can rent out computer labs and set up training programs easily. With the use of well-functioning computers and space to accommodate a large number of people, your training program is bound to go well.

5. Conduct Workshops

A computer lab is an empty and peaceful space with a lot of resources to make use of. You can also use these labs as a space to conduct various types of workshops. You can hold promotional and educational workshops according to what fits the occasion. An educational workshop could be teaching the underprivileged sections of society about the workings of a computer. This can be effectively conducted in computer labs. Social service activities can be conducted with the good purpose of making India more digital.

There are plenty of ways to make use of empty computer labs and these were just some of them. Computer labs can be a great source of income as well as a life-saving space during emergencies. It’s important to understand and be aware of how you can list out your vacant owned spaces and make money by putting them to good use. Empty classrooms for rent are available today. You can even learn how to put your classroom on rent or rent one out.

Credits: Manavi Sarang

September 13, 2021 0

How can empty shops be used for renting?

Space owners after owning a space should start getting creative and start thinking out of the box when the retail space remains vacant most of the time. Not only some empty spaces strain the property owner but it also starts creating an eye store in the community. As an easy way to remedy both the problems and to lease out the space out on a short-term basis.

Many businesses lend themselves to this kind of temporary occupancy. Many shops give prop-up two to three months in advance spaces too. But some of the accounts are not the only ones who need temporary retail space.

Related Topic: How empty classrooms can be ued for renting

Marketers use pop-ups to sell their wares

Some marketers who have new products use completely new business, which will also be used for lease, specifically short term spaces to test the products or new businesses concept to determine it well. If any of the products or businesses are susceptible to some localized influences, then the market may lease down spaces in multiple markets to make sure it is covered in the entire demographics.

The empty shop’s space market has become popular with both landlords and tenants that have multiple sites online catering to landlords who want to list the properties as well as the tenants who are searching for the right opportunities. One such popular site wherein you can list your space would be www.myrsa.in to book property spaces.

The length of leases and other consideration

The lease for such spaces usually stays for six weeks to one year, with so many non-seasonal retailers willing to sign in the month-to-month leases there could result in long-term tenancy.

This concept works the best where there is little or no space in the modification required. Generally, just by adding desks and chairs or some kind of display to fix it is all that is required. These simple additions and changes are easily implemented than torn down. Extreme modifications are not a stumbling block because tenants don’t want an easy move-in move-out phase, and the landlords want to become little and have no refit between the tenants.

The pros and cons for landlords

While there is a long-term lease commitment, there is a pop-up operation that is not wholly unattractive for landlords. That might be because the prospect of bringing some rent is better than having no rent at all. The aesthetic value that is there in the pop-up operation can add a location that would not be overlooked. It can also be used to help consumer confidence and show the retail space as being desirable. The short space to these leases can also give huge benefits to landlords by offering immediate mortgage assistance while leaving the potential prospects open for long-term leasers once in the market become favorable.

When to search for an empty shop space

There is no ideal time or season to search for an empty shop space if you are in a need to grow your business and you don’t have much space for it then you can search for more such spaces. For example, holiday decoration stores and gourmet goods, and gift basket providers need space for in the upcoming holiday season and that is usually in the summer season. For more information on empty spaces and more, you can visit www.myrsa.in

August 11, 2021 0

Pop-up Stores in Malls: How To Get In The Game

Malls have a long track record of offering a place for shopping and socialising. Containing luxury brands, restaurants , cafes, playgrounds, education centres and movie theatres, malls have become neighbourhoods of their own.

They draw on the power to have a diversified environment to appeal to a variety of different audiences, and more and more retail and pop-up experiences are being provided, as well as capturing the rise of e-commerce companies turning to physical locations to provide IRL for their customers.

Issue or a chance?
In relation to the Mark Cohen, director of retail studies says, “The Internet is now hollowing out the great mall.” Mall operators need to innovate as they compete with growing numbers of online shopping customers. Credit Suisse, the multinational financial services company, has also projected that online fashion revenues would double to 35.7% in 15 years and that by 2022, up to a fifth of the 1,211 malls will close their doors.

However, what we are currently witnessing is an exciting transformation in the industry and a revival in physical stores instead of hearing developments such as the demise of brick-and – mortar. The rise of e-commerce, in reality, is not a challenge to malls, it is a call for creativity and a chance for cooperation.

Pop-up shops to get in the game
In-store shopping appears to have value. They provide an irreplaceable shopping experience, encourage customers to try out and evaluate the quality of goods, and provide a space for face-to – face contact between salespeople and customers.

In reality, giant e-commerce companies such as China’s Alibaba have recognised this and they are increasingly looking for ways to open physical stores.

Just as e-commerce firms were looking to pop up, more and more malls were looking for pop-up store options to tackle the closing of department stores, fill empty spaces and enliven the shopping experience. Short-term pop-up shops have shown that they increase foot traffic, target millennial demographics, and raise overall revenue from property.

Malls are not static centres for impersonal purchases, but living hubs of consumption and enjoyment that change with the seasons, inspiring and vibrant.

For mall owners looking to liven up the dynamic in their malls, pop-up shops create excitement and are a great solution. Malls provide a forum for major brands that increasingly use pop-ups to create buzz and attract attention to new products through partnering with pop-up shops. Furthermore, pop-ups are a way for mall owners to open their doors to start-up brands and e-commerce firms that are keen to enter and meet customers in the physical market.

In the form of pop-ups, partnering with existing businesses, start-ups and e-commerce businesses will reinvigorate malls with exciting and rotating deals. Pop-ups will add another degree of liveliness to mall owners and give clients an additional incentive to visit.

Also, another thing with malls booths is, it isn’t mandatory for you to have it in one location all year long. You can have them at different malls at different times of the year. So you can find new businesses in new locations each day. If you think that buying a booth is expensive. Believe me, you can have your own booth designed at the desired amount.

We at Myrsa make this idea of renting out your booth very easy and convenient. You just need to list your mall booth on our website and start earning.

Just a few steps and you are ready to get started. Isn’t it one of the easiest ways to earn. Sit at home and control whats been done in your booth with Myrsa. Stay tuned for more unique ideas to earn. Subscribe to our blog at www.myrsa.in.

October 29, 2020 0

What’s The New Normal For Retail Stores?

Although the world is attempting to return to a sort of normality, it is obvious that certain aspects might have irrevocably changed. The business world is no exception, so what’s the new standard for business?

The Covid pandemic is one of only a few times in history, before and after. When all can be set as ‘before Covid’ or ‘after Covid’ in context.

Physical retail around the world was forcefully modified during the lockout and customer behaviour adapted accordingly. Retailers that start up again work in a different environment.

We recently wrote a piece about how to safely run a store in a post-covid world (check it out here), so we’re going to talk about some of the longer-term impacts in this article and what distributors need to be mindful of in order to thrive.

Physical vs digital a thing of the past

A number of brick-and – mortar stores were suffering long before the pandemic. There are various and nuanced explanations for this, but it is fair to assume that much of it is responsible for the rise and growth of e-commerce.

Consumer behaviour was forcefully adjusted during the lockout. All had to turn to the digital world for their retail needs with physical stores closed, including sectors and consumer groups that previously opposed doing so. Now that these barriers have been demolished, things are unlikely to return to the way they were before. Out of the bottle is the genie.

What this means is that the relationship between offline and online is more critical than ever. Brands that are unable to combine the two will fight. Physical retail remains a very strong customer engagement tool, and the digital world can never compete with the value and experience that can be offered by a physical store.

This ‘phygital’ so-called solution is far from a modern notion. This process, however, will be an ongoing evolution, not a single transition. Are we going to see the virtual wardrobe that Cher Horowitz uses in Clueless to pick what to wear? What about runway shows with holographics? No idea, but those that succeed will be the brands who make the largest leaps and seamlessly merge both the physical and the digital to optimise the effect of each one.

Coping with a recession

It is no secret that the world is facing a possible recession of great severity. However, unlike previous recessions (2008, 1990s etc.), a sudden shutdown of consumer spending caused the Covid recession. Clear, obvious and instantaneous. Previous recessions have left durable imbalances that have taken years to sort out. Although many economists believe we can rebound rapidly, the fact that we’re in for a tough time is not secret.

How will shopping affect this? Well, to begin with , people are going to have less money and be less likely to invest what they have. This decreased spending on consumers would hit retail hard. Retailers will have to fight to build confidence and loyalty by providing outstanding experiences and being trustworthy, much as in previous lean times.

History tells us that recessions reveal internal vulnerabilities, speed up new patterns, and push companies to make quicker than initially expected systemic changes. Brands who adapt, alter their activities and focus on providing value to their customers will emerge at the top, and those that are earliest to do so will have a great chance to develop themselves.

Contactless shopping the new norm?

Contactless shopping refers to the idea of not actually selling something in your stores, another trend that will definitely become popular in the future. A shopping experience without touching items, no show replenishment, and no need for enormous customer numbers. In exhibits, goods are displayed and sales are either made there and there and generated from the back or delivered the next day directly to your home.

Although this is a style that has evolved due to the short-term limitations of working in a Covid environment, consumers are highly likely to tolerate it at first and then actually prefer it.

Appointment-only shopping?

With a range of design labels and fashion companies, we are already seeing this and it’s a trend that might hang around until Covid becomes a bad memory. In short,’ appointment only’ is when you book an appointment on your own or with a small number of other clients and get a time slot in the shop.

While this is very much about preserving social distancing protocols in the short term and making the consumer feel comfortable, it can persist in the long term as it offers a range of significant advantages. From the point of view of the retailer, consumers are more likely to make transactions on an appointment and thus encourage brands to concentrate more of their time and resources on their most important customers who have already made a commitment. An appointment is a far more customised experience from the customer’s point of view; everybody gets a personal shopper!

Experiential retail the differentiator

So far, if there is a common theme, the customer experience is and will continue to be relevant. Physical retail offers brands with opportunities to connect with consumers in ways that the internet does not. With consumers buying all sorts of products online becoming more and more relaxed, physical retail needs to wow and delight. People are looking to be amused, and to establish new connexions with consumers and build loyalty, brands must step up to the challenge.

As physical retail changes from transactional to dramatic, experiential retail would be the norm.

Flexible retail – fewer flagships, more theatre?

The Covid crisis served as a trigger, as we have seen, triggering many of the developments we have already seen. Phygital, contactless, experiential … these are all words that we have spoken of for years. There is nothing that is radically different and nothing that can surprise anyone excessively. But it is possible to get a glimpse of what the overall retail picture would look like when you take a step back and look at the bigger picture. This is a new standard.

Will the make-up of the high street and shopping centres look the same if a physical place is all about collecting marketing insight, evaluating new goods and interacting with new and existing customers?

When contemplating their physical retail plan, brands need versatility. We have called this ‘short-term retail’ in the past, everything from six-month pop-ups to one-day activities, but now this tactic is going to be even more common. We’re talking about ‘flexible shopping’ now, the blurring between long-term and short-term tracks.

Expect brands to scale back their flagship stores and create versatile, engaging short-term retail ventures that travel around and grow instead. Positioning their physical retail plans, both completely aligned with and powering ecommerce products, alongside their marketing programmes.

A thing of the past is long-term rentals. Pre-Covid, as brands sought to reduce their risk, we were already seeing a major shift from 5-10 year leases to shorter-term more flexible agreements, but now with an even greater need for flexibility, we expect the pendulum to swing further because more and more brands are seeking flexible terms.

With major retailers struggling and in the middle of a recession, if they want to continue filling their properties with products that attract customers and prove lucrative, landlords will need to reassess their choices and approaches.

Myrsa is a platform where you can find acces to the societies that are close to you and are looking for bulk deliveries.

You can book a different types space through them on a hourly or a daily basis. As this is going to stay for a while you must register on Myrsa now and connect with housing societies even after lockdown. This has now become a lifestyle change and you as a brand must keep up to it!

October 1, 2020 0

Eleven things to consider when planning to open a store in a post-COVID world

With lockdown restrictions slowly lifting throughout the world , people are starting to emerge from their homes and life is taking its first tentative steps towards normalising. In this article we will be speaking through some of the steps that retailers should consider when planning to open a store in a post-Covid world.

While there’s a lot of debate about what the ‘new normal’ will look like for retail post-covid, what’s clear is that retailers looking to open their doors in the short term will have to take steps to ensure their staff and customers are safe.

Government legislation varies from state to state but no matter what the law requires a store to do, there’s a more important barometer you need to consider. Yes , of course you need to make sure that what you are doing is within the legal guidelines, but what your customers expect is the higher benchmark to consider.

When you consider that this way, it’s not a necessity to wait for governments to tell us what to do. We can anticipate what customers are going to expect and this is the benchmark that matters, not what we need to be doing as a legal minimum. Physical stores that plan to reopen must persuade their customers to be safe while shopping in their stores.

What your clients need to feel comfortable and relaxed is inevitably going to be a higher standard than any government policy. It’s not about what we need to do in order to operate as retailers but rather ‘what can we do to make people feel comfortable? ’.

In this article we highlight 11 areas that should be considered when reopening an existing store, opening a new one or embarking on a short-term retail project. There is no one-size-fits-all reopening approach, as this is far from being an exhaustive list. Consider your business goals and resources as you plan (and how reopening those will impact).

Regular cleaning

Repeated cleaning of all areas of your store is a must. It is considered almost as important as cleaning actually is to clean it and make sure customers know that you have a strict schedule of cleaning in place.

You’ll need to focus on different areas, depending on your industry and the layout of your store. Implementing a cleaning regime targets that have frequently touched surfaces and spaces like shopping carts, pin pads and door handles. Don’t forget to cater for staff equipment; like selling machines, shared tools like pricing guns and fridges.

New Safety Devices

Installing safety equipment may seem like a costly investment but it will serve to strengthen customer trust in your policies and approach. Customers are not allowed to enter if they do not see clear effort and expense being spent on their safety. Make sure that the safety equipment is well maintained and clear and obvious, it shouldn’t be something you ‘re embarrassed about or try to hide from.

First of all, consider installing plastic screens at checkouts and possibly placing a hand sanitizer station near the door.

PPE

No matter where your store is located, you’ll need to consider PPE. Even if where you are in the world is not mandatory is it something that will reassure your customers? Probably the answer is Yes. Make sure that you have a reliable PPE source for all staff, and that they are fully trained in how and when to wear it. You will also need to ensure that your PPE cleanup approach is consistent.

Depending on where you are, it might be wise to make it compulsory for all customers to wear some PPE level for entry.

Social Distancing

It’s probably a social distance that will be standard practise for a while yet and possibly longer. At the very least, people’s awareness of their own personal space is heightened and will be integral to doing what you can to make people feel comfortable.

Make it store policy to keep a distance of two metres between everyone (including staff) and place markers on the floor in areas that are likely to experience a queue like checkout.

Other choices. That depends heavily on the specific configuration of your store, including the implementation of one-way and clearly signed ‘flows’ that encourage customers to walk around the store in a specific way, thus minimising the chances of meeting someone else coming the other way. If you have two doors, then another option is to have separate entrances and exits.

If your store is relatively small then creating a capacity limit may be sensible. Sign clear how many people are allowed in the store and make sure that a staff member is at the door to enforce the policy. If you expect to have large numbers of people outside the queuing make sure that you also consider their safety and place markers where they can queue outside while keeping social distance.

Your staff

Never forget about your employees throughout the process of opening your store. Your safety should be as important to you as your customers’, if not more important. Likewise, their adherence to your new policies will be an enormous contributor to whether they are successful and whether customers feel comfortable enough to enter, buy and tell their friends. To this end, make sure that you train your employees well and they understand the role they need to play.

In terms of shifts, try and balance shifts so that not too many people are on breaks at the same time to avoid crowding in the ‘break’ areas.

Signage

You should look at clearly signing the steps that you have taken and explaining your policies clearly. Make them reassuring and highly visible, so that customers know that their safety is being taken seriously. Clear messages reiterating social distance requirements, client volumes or some of your security processes will provide a reassuring and consistent environment. In-store announcements could even be used to remind customers of proper traffic flow and social distancing protocols.

Returns

In a post-Covid world you need to think about how to manage your returns. At first, considering extending your standard returns policy until well after the lockdown ends may be sensible.

Is it enough to wash them when they return, and will customers purchase potentially contaminated clothes? These are things you need to consider – make sure you have your policies clearly signed to reassure customers.

Opening hours

Do not automatically resume the same trading hours when reopening. You might want to extend it, or even shorten it. Keep in mind that social distancing requirements and cleaning processes will mean that opening and shutting your store take longer.

To support social distancing efforts by limiting store traffic, adjust store hours of operation where necessary. Consider offering exclusive early hours access to seniors and other high-risk individuals and maybe boosting pickup hours to serve more online customers.

Changing rooms

Changing rooms are a staple and required part of the sales process for fashion and apparel brands but they represent some major challenges in the immediate future. Keeping changing rooms closed may be sensible, unless you can limit numbers and have a robust cleaning or decontamination process in place.

If you decide to open your changing rooms, position a nearby staff member to maintain social distance and clear items that have been handled immediately.

Just contactless?

Dealing with money presents challenges. Just accepting card payments and maximising how much you use contactlessly would be sensible. If contactless is not possible (some countries have extended the limit for the duration of the crisis) then ensure that you disinfect the pin pad before and after each transaction – and make sure that the customer sees that you are doing so.

11. Shopping by appointment

Finally, one trend that we’re seeing more and more is a switch to appointment shopping. This is where customers book a time slot where they will be able to enter the store. They are the only person in that store during this time, and have the full (socially distant) staff attention. This is obviously not an option for all retailers but is an extremely valid option for high-end goods or brands of fashion and apparel.

Consumer confidence will return when they are confident their safety is a priority.

Book Temporary spaces on rent on Myrsa!

September 9, 2020 0

Will physical retail have a role to play in a Post-COVID world?

The ongoing Covid-19 crisis has profoundly impacted many facets of our lives. The way we shop is no exception. Yet what does the pandemic ‘s effect on physical retail futures mean?

With local laws curtailing our movements at the height of the crisis (and trapping us in our homes in many countries), the way we shopped changed drastically. Restricted high streets and malls, and ecommerce underwent tremendous upliftment. Now that the freeze is easing across the globe, the question arises – does physical retail still have a part to play, and if so, what’s going to be different?

The short answer to that is yes. Physical retail should continue to play an significant part in the relationship between customers and brands. Its dynamics may change slightly, but our high streets do not go anywhere and brands will continue to look at physical retail as a mighty opportunity. What’s important to think is which customer preferences in a post-Covid environment will survive, and which will revert.

We’ll take a look at what’s changed in this article, what it means for physical retail and how brands can adapt.

What’s changed?

It’s no secret that ecommerce has seen a big boom in the last few months. As McKinsey’s consulting group points out, retail will definitely see a gradual rise in online shopping and in areas that had been predominantly store-based in the past. That would be attributed in part to consumers who previously preferred shopping offline, such as baby boomers and Gen Z, being more comfortable with shopping online. Particularly for the supermarket ‘routine’ such as groceries. If they have done it once or twice it is going to become normal.

According to Forbes, these new consumer habits are likely to persist with an anticipated 20 per cent annual growth in ecommerce across retail as a whole, compared with 15 per cent pre-Covid

In fact this shouldn’t be a big surprise. That was a phenomenon that we’ve seen already. The last few months may have actually accelerated the trend but there is still a vital part to play in physical retail. This is because while ecommerce may have benefited from being

Nonetheless. Although ecommerce success in recent months may have benefited from being a fast and convenient alternative, it can not compete with in-store experience.

What’s the physical retail getting to the party?
Ecommerce is amazing. What doesn’t want the convenience of their own home to do all their dull ‘routine’ shopping? It’s smoother, quicker and sometimes cheaper. Yet we need to note before we get carried away that this is not a one-size-fits-all case.

Everything this comes down to the experience these days. Name the industry and you’ll find that expertise is at some stage the main differentiator. This is no different in trade. Improvements in ecommerce capability are generally geared towards increasing efficiency and reducing friction. That effectiveness comes at the expense of experience and the key is experience.

Physical stores offer the opportunity to provide interactions that just can not compete with the digital world. There is no alternative. For precisely this reason, digital brands have launched physical stores all over the world over the last few years.

What’s more, it’s obvious that even in the last few months there’s been a big shift to digital, there’s still a need for an experience above and above what a typical ecommerce website offers. For example, here at Myrsa we saw a tenfold increase in inquiries about our Virtual Reality Stores as customers look for ways to differentiate and deliver unique, branded experiences.

That is why we are confident physical retail will recover as consumer demand picks up. People are going to return to the high street, back to physical retailing. Yet while we’re sure that physical retail space for rent will return as a retail force, we ‘re also positive it won’t look exactly the same.

What will become of physical retail in a post-covid world?
We need to think about what it will look like in the short term and what it will look like in the long term to answer this issue. The perspective of the short term is interesting; with the shops opening gradually across the globe, we are still catching glimpses of what is to come. We will go through this in more depth in a separate article but it is fair to conclude that physical retail will concentrate on fulfilling consumer standards about hygiene and health over the next few months. Consider PPE, hand sanitiser, and shopping for appointments.

The long-term view is even more compelling. When brands use physical to attract new consumers and offer excellent brand experiences, we ‘re likely to see even more of a shift to experiential retail. They need to work on the halo effect to do this – using both the physical and the digital to deliver a seamless customer experience.

In a recent interview, José Neves, founder and CEO of Farfetch’s online luxury shopping platform, took this even further when he said: “Brick-and-mortar digitization was ‘good to have’ in the eyes of many brands and retailers but should be pushed to a ‘must have’”

The Covid-19 crisis has increased transition pace, and the need for reform. Brands capable of integrating online and offline to gain advantages on both sides would be competitive with physical retail (so-called ‘phygital’).

Yet not all digital upgrades. Changed the role of physical retailing. Or rather, it has accelerated the change that it was already experiencing. Stores will focus less on shifting stock and generating revenue, and more on building customer loyalty, gathering insight into marketing and reaching new audiences. More marketing … Less transactional.

This is a phenomenon we’ve seen in the emergence of pop-ups as brand trial sites, run product releases and gain marketing feedback in short-term environments designed to offer outstanding experiences.

We expect that we’ll see less but better flagship stores over the next few years coupled with plenty of flexible retail (like pop-ups shop on rent) to highlight brands and goods, draw new buyers, create brand loyalty and improve online sales. We ‘re going to see versatile retailing in affluent areas where you’d never have seen it before.

Such physical stores can offer less items and sell less, but can have even more entertainment.

Entertainment and the experience is everything.

August 24, 2020 0

Here are 5 Financial Advantages of Hosting Pop up Shops

If you run an e-commerce retail store, or mostly sell your products at markets and trunk shows, you may have tossed around the idea of opening a permanent, brick-and-mortar location at some point.

But if you’re unsure if it’s worth the investment to spend all your working capital to open a store, try opening a pop-up shop.

Pop-up shops are temporary retail spaces for rent that can last up to a day or a few months. Pop-up stores are meant to be short-lived, unlike a permanent store. You can use them to show a physical location— as well as certain items, or your marketing strategies, or anything else you want to try out in a low-stakes environment.

If you’re still unsure How successful are pop up shops? What are the benefits of pop up shops?; if you’re going to invest your initiative and earnings in a pop-up shop, check out the five financial benefits of shooting it:

Discover the benefits of a shop without any investment

The clearest justification to try a pop-up store before opening a permanent location is that you can see for yourself whether it would be worth investing in the latter.

You can find that your personal sales don’t suit what you’re doing online with a pop-up. Or you might find that people in this community love your goods and if you set up a full-time store, they will help you. But until you try, you’re not going to know!

Take advantage of busy shopping seasons in-store

For many of us, these days it may feel like everybody shops online. But the vast majority of shopping is still taking place in-store during the holidays. (In 2019, 84 per cent of holiday shopping took place in brick-and-mortar shops.)

Supercharge your holiday sales by opening a pop-up shop, taking advantage of people’s love of window shopping and boost buying during November and December — or long holiday weekends all year round.

Create word-of-mouth buzz for your efforts online

Everyone believes that word-of-mouth advertising is one of the most successful ways of marketing available. Unfortunately, measuring is nearly impossible, both in terms of how much it happens and how much you can attribute it to any of your marketing efforts.

A successful pop-up shop is a great way for people who might not have met your brand otherwise to build up buzz. See how much new business your pop-up has offered you by circulating business cards with a pop-up shop-specific landing page URL and enabling shoppers to use a special discount code while shopping online in the future.

If you see from these efforts a lot of movement and new sales, you’ll know that your pop-up on rent has done the trick.

Strengthen your email marketing efforts

Speaking of email, one of the best forms of digital marketing out there is email marketing— considering that the ROI is almost unmatched and that you can effectively measure it.

To raise your email subscription list, use your pop-up shop as an avenue. Collect buy-in email addresses, ask users if they want to sign up to learn about offers, and invite people to leave their business cards or emails with you to enter a raffle and win a prize. Then you can continue to engage them.

Offload unsold inventory

You can burn a hole in your pocket with unsold inventory. It’s expensive to keep on warehouse shelves, and as it gets older and older it will continue to lose value. The pop-up shop may be the perfect place to turn out that old inventory and give it new life. Sell it at a discount and save what you can from its sales, instead of absolutely resigning yourself to losing it.

Myrsa will make this process of finding space for your popup shop easier. You can find spaces like shops in malls or even in residential areas where you can set up your shops, stalls, kiosks. This will help your business a lot with profit-making. Register your brand on Myrsa and keep a check on available spaces that are ideal for your business.

June 14, 2020 0

What is Location-Based Marketing?

Location-based marketing is a rapidly growing marketing strategy, located right in the middle of the advertisement ecosystem.

In most but not all sectors this advanced marketing approach is a perfect fit. Here’s what makes location-based marketing successful and a few pitfalls you’ll need to avoid.

Marketing based on location: Wherever it operates.

Brands with physical locations are the best fit for location-based marketing, which is evident but worth repeating at all times. Such types of businesses are best suited for geotargeting strategies because location-based marketing and analytics firms will geofence locations to identify the audiences visiting their locations. Marketers build audiences for their geo-targeted ads based on real-world experiences, rather than shares and follow on social media. Using this approach, advertisers ensure that they reach the right audience and deliver appropriate content at the right time.

So who will successfully use the geotargeting campaigns? It covers all retail outlets, catering and dining establishments, grocers, and the list goes on. Below are just a few more examples.

Auto dealers

Auto dealers also profit from geotargeting campaigns which can reach customers of their competitors, especially geo-conquesting. In their final phase of visiting auto dealers, their large retail presence, high-value price tag and purchasing process force advertisers to work hard to reach the car shoppers.

Pop-ups and seasonal stores

The businesses and brands with seasonal stores and time-specific events often create impactful geotargeting strategies when they meet the right requirements. Talk of pop-up tax bureaux and holiday shops.

Marketers for these brands use publics seen at their previous year locations to offer ads to the same audience, enabling return visits the following year. To encourage future ticket purchases, professional and college sports teams use location-based targeting to meet the audiences who visit their stadiums each season. A trade show that takes place in a large venue over several days, attracting thousands of attendees, is an effective way to capture a business-to-business public.

Tourism boards

We have also seen travel and tourism boards use geo-targeted campaigns with success. For example, a marketer who works to encourage tourism in Charleston, SC, may decide to convince Savannah, GA tourists to visit their location next summer instead.

Ecommerce companies

In some cases, marketers at e-commerce firms and consumer packaged goods (CPG) firms can also use location-based marketing. Whether they have physical retail stores or not, eCommerce companies are competing for customers who visit rivals that have shops. Likewise, businesses that stock items in specific stores may use geotargeting for consumer-packaged-goods (CPG). A business with a high-end hair care product that can only be sold at salons should use location-based marketing to target customers who frequent those salons.

Location-based marketing: What to avoid

Those who use every targeting technique know that there are limitations to each strategy and location-based marketing is no different. These restrictions can be in terms of both data quality and quantity, as well as regulatory and compliance limitations.

Locations that don’t scale

The most common obstacle to build an effective location-driven campaign is to discover that places are not going to scale up to create a substantial audience. This difficulty can come from a variety of issues like choosing a single location to examine without heavy foot traffic, events that don’t last long enough to attract the right audience or smaller markets with limited data to start with.

Marketers also sometimes consider location-based audiences difficult when companies are clustered closely together or on top of each other, as in malls or multi-use buildings. It is difficult to create a market for a store located on the street level of an apartment building, or tourists to an office located on a skyscraper’s 12th floor. Marketing and analytics firms based on location may not be able to determine the difference of who is a shopper and who lives or works on the floors above or below the desired location.

Products or services available everywhere

Recall an example of this high-end hair care product? If it’s only available in certain salons, then ads based on the location will work well. But if it’s available somewhere, the plan would just not work.

Goods that are omnipresent, and can be sold in a variety of locations — think bubble gum, soft drinks, pet food — do not benefit from observations derived from a distance. Such advertisers should use other targeting strategies to reach their customers more efficiently, such as demographics and buying history.

Businesses with sensitive data

Considering the sensitive nature of the data, brands at certain places, such as healthcare facilities, can pose another challenge for location-based campaigns. Compliance companies such as the Network Advertising Initiative, the Digital Advertising Alliance, and TrustArc have membership requirements that stipulate appropriate business practices and how their member firms will treat opt-in authorisations. We play a vital role in providing protections for customers in the absence of robust federal legislation.

Usually, adhering to these codes of conduct, location-based marketing firms do not encourage advertisers to build markets around sensitive areas, especially related to health care, or participate in any discriminatory practices. These same principles apply to the right to personally track or target another person. Marketers have no desire or motive to target one market, but rather large audience cohorts which exhibit similar behaviours or characteristics.

What’s next for location-based marketing?

There are three important elements in the future for location-based marketing: legislation, the emergence of new data sources, and attribution.

The end goal is a standardized structure that voluntarily welcomes both consumers and businesses, and one that gives greater clarity and control over data practices across the entire data ecosystem.

The 5 G rollout would create massive sources of highly accurate location data, combined with the introduction of billions of new sensors over the Internet of Things. The 5 G towers must be more tightly grouped together than the current cell phone towers. Such finer clustering means cell phone carriers can triangulate position with a greater degree of precision than they can do today. 5 G also offers quicker upload and download rates, driving the proliferation of more internet-connected devices across a variety of products and industries. As these billions of sensors come online, they will not only produce location data but also other valuable data sources to track the use, usage and life cycle of goods. It is yet to be determined how advertisers, academics, and regulatory bodies interpret, evaluate, and use the more granular data.

Finally, advertisers will be gradually held accountable for their ad spend, requiring evidence that their ad spend results in new foot traffic and sales. We’re a long way from demonstrating that digital ads, and most other advertising formats, have resulted in actual sales in the shop. There are just too many unconnected silos of data to put meaningful and statistically relevant findings together. The ad seen on TV can not tell your phone or laptop that it has also been watched, while the point-of-sale or online checkout system can not alert the prior touchpoints to confirm that the sale has taken place. Given these challenges of tying online ads to offline sales, when using location data, marketers adopt a macroeconomic view of attribution. They assess how their campaigns affect foot traffic at their own locations, as well as competitors, as another data point to measure the effectiveness of their ad spending.

The Last Line? Such improvements are all new opportunities. It is because of its efficiency that advertisers can continue to invest in location-based marketing. Understanding what works and what isn’t the basis for any successful campaign.

Myrsa will help these marketers to easily find temporary rental spaces in high footfall areas. Register your Brand with Myrsa and start your promotional activities now.

February 21, 2020 0