What are the benefits of pop up shops? – It's all about people meeting people

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.

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.

Category: What are the benefits of pop up shops?

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