Short-term Lease…Lasting Business

Nimble- the ability to be quick or light in movement, agile and receptive to an ever-changing environment. This term is not often associated with the brick-and-mortar retail formula of yesteryear, where businesses first established a brick-and-mortar store and, after expanding to multiple locations, later explored the idea of an online component to their business. Now, today’s business owner often tries their hand at eCommerce prior to making the investment in a physical space, lowering their overhead costs, and overall risk,  in the process.

With mobile being the catch phrase of today, the ability to be nimble in your business is more important than ever. Yet, is it possible to have an established physical space for your business while also capturing the attention of today’s increasingly mobile shopper? In a recent feature on “All Tech Considered”, Elise Hu of NPR comments,

“As consumers do more and more on mobile devices, short term leases promised by pop-ups mean brands can be more mobile too- moving around to where their customers cluster…The old retail world meant long-established brands existed first in brick-and-mortar stores. Then, they expanded online. Now, the model is flipped.”

Pop-up stores offer the flexibility of a short-term lease, and more often than not, focus exclusively on a specific product , or set of products, as to appeal to the shorter attention span of today’s busy shopper. For brands looking for a more nimble format, this could be the key to a lasting business. Think a Pop Up may be right for you? Learn more about Westfield’s Pop Up options here.

 

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