You’re about to open a new pop-up retail space and are practically vibrating with anticipation at all the new business about to come your way. But before those sales can start rolling in, it’s important to keep in mind that short-term retail doesn’t follow the same rules as traditional brick-and-mortar. By implementing tools to measure and track your pop-up shop’s success, and incorporating a bit of creativity into your marketing and branding strategy, you will ensure that your pop up performs.
Establish Sales Goals
You can’t expect to fully capture the success of your pop-up shop (or pin point areas in which to improve) if you don’t measure the efforts of your sales team. Come up with goals, such as a number of sales per day, or total dollar amount per shift, and keep track of the numbers in your customer relationship management software, or even a simple spreadsheet.
If members of your team fail to meet the objectives you’ve established it may be time to re-train, or perhaps consider adjusting the goals to make them more realistic. Either way, you’ll be able to more accurately compare your sales figures with what you had forecasted and adjust your strategy from there.
Turn on the Creativity
Achieving success in your pop-up retail space will depend to a large extent on how creatively you market and brand yourself.
For example, let’s say your organic skincare brand has just released a new product with a target demographic of women aged 35-50. Consider partnering with a complimentary, yet not competitive, brand that can offer an additional reason for a shopper to visit your location.
An obvious match in the health and beauty category would be a local yoga studio or juice bar. Imagine offering a yoga class in your pop-up space? Or providing your shoppers a with a juice at purchase? Many new-to-market retailers are eager to participate in such partnerships as they help to strengthen their brand reach and presence as well.
Launching a new business endeavor can be nerve racking, but with the right preparation and attention to detail the payoff can be huge. Learn more about short-term leasing with Westfield and get in touch with the Westfield Mall Retail team today. Your leasing manager will help to identify the retail format and shopping center that’s best for you.