If you launched your company with the intention of processing all sales through your ecommerce website, chances are that you long ago discarded any thoughts of opening your own brick and mortar.
However, it pays to be flexible and to explore new options when it comes to meeting your customers where they are. A case in point is the online-to-offline movement where online retailers are connecting to their local communities through short-term retail locations, otherwise known as pop ups. To help you make a decision about pursuing a pop up leasing strategy, here are the pros and cons of online sales versus selling through a pop-up shop:
When you conduct business online, every other company in your category, or that is focused on your demographic, is your direct competitor. On the contrary, opening a new pop-up shop allows you to engage a much more targeted audience.
One potential con when opening a pop up is the investment that is required. Operating your online store will never cost more than a bricks-and-mortar shop, regardless of square footage.
However, when opening a pop-up store, you are benefiting from the foot traffic that will allow for real customer engagement and feedback, and the opportunity to make a lasting impression with both existing and future shoppers. All of this comes along with the potential to make more profit, especially if you properly promote the space and engage shoppers.
A pro for pop-up shops is that they are more personable than online stores. People love to talk with an actual human being when picking out items to buy. However, a con is that customers may have to wait their turn in line before they can ask you a question or make a purchase. Busy shoppers who have limited time in a store will gravitate to the online version.
Still, you can count on making far more connections with customers in your pop up shop than via your online store. An example of boosting engagement in your temporary retail store is running live demonstrations in front of an audience of avid shoppers.
Sure, you can put how-to videos to show potential customers how to best use your product, or write a blog post explaining how to best wear your latest clothing item for Spring. But videos and blog posts are not able to answer questions on the spot.
In contrast, a pop-up shop gives you ample opportunity to do product demonstrations that you can tailor to the people right in front of you. What’s more, when other people in the retail setting see you giving demonstrations, they might wonder what all the fuss is about and come and join the crowd, therefore extending your reach and selling potential.
No longer do you have to rely solely on your online store to make those much needed customer connections. For details on how you can grow your business and extend your brand in the marketplace by leasing a pop-up shop, we invite you to consult with one of our leasing professionals at Westfield POP today.