The Appeal of Short-Term On-Demand Retail
September 8, 2016
The holiday season is right around the corner. Before you know it, the first jingle-bell-filled TV commercial will be airing and peppermint-flavored beverages will be in every coffee shop. So, now is a great time to think about your holiday retail endeavors. A viable option for many retailers during the holiday season is short-term on-demand retail spaces. Here’s why:
Landlords are starting to understand
We see it all the time – empty storefronts waiting for the perfect tenant to occupy them. This is partly because many landlords have the mindset that they should only pursue long-term opportunities with tenants. In other words, go big or go home. But, we are seeing a shift in this reasoning, which is beneficial to pop-up retailers. “The temporary nature of pop-ups means the risk is low for all parties involved,” says John Church, Bayleys national commercial director. “Retailers can take a gamble on a new location or new product, and dare to be creative – pop-ups are equivalent of taking a car out of a test drive – while landlords can fill their spaces more quickly, and expand their client base.” If retailers are transparent with their landlords and show plans for activation and how to reap the biggest profits, the relationship has a sturdy foundation for success.
Emphasis on the experience
Retail is continuously reinventing itself. Regardless of if you’re goal is to be as inconspicuous as possible while testing a new product, or launching an entirely new brand, you have to offer a really good experience. Consumers still want the efficiencies that online platforms offer, but with a tangible experience on the side. Be ready to capitalize on that desire and deliver by exceeding expectations. It’s also a great chance to boost social media engagement and entice a sense of FOMO – “we’re only going to be activated for four months, so be sure to catch us while we’re here.” Nothing sparks more of an interest than the feeling of exclusivity.
There’s no better excuse than the holiday season to entice your customers with something new. Whether it’s the concept of a new retail experience, or the product itself, now is as great a time as ever to embrace the idea of pop-up retail spaces.