When Uber entered the scene a few years back, it completely upended the current system of transportation. Now, thanks to Uber, it was easier than ever before to quickly get a ride from one location to another. Uber used technology to disrupt the market and in turn, it grew into one of the world’s most well-known businesses.
Now, when other businesses find ways to disrupt their own markets, particularly when they use technology to do so, we call this “Uberization.” For the retail world, this Uberization has already arrived in the form of pop-up stores.
How Pop-Up Stores are Disrupting the Market
It has always been true that the best way a business can interact with potential customers is face to face. In the past, this required businesses to rent out a store in which to operate. They needed to sign multi-year leases, which were very costly, in order to have a space from which they could sell their products or promote their services. As e-commerce became more popular, more businesses started operating online – allowing customers to browse their products through the Internet, which would then be shipped to them at home.
But not every business can, or wants to, operate solely online. Signing an expensive lease that lasts several years isn’t an attractive option for some brands. Enter pop-up stores, which allow businesses to set up shop for a shorter period of time without having to enter into lengthy leases.
The Benefits of a Pop-Up Store
There are three major benefits of pop-up stores for businesses. First, it allows brands to engage with their customers. Inside a pop-up store, the business can showcase a product, get feedback from their customers or provide customer service. This is especially important for smaller businesses who need to work hard to attract initial customers.
Second, pop-up stores require less of a commitment. Let’s say you create custom clothing and do most of your business online. However, around the holidays, you’d like to attract more customers who are shopping at malls. With a pop-up store, you could set up camp inside a mall, sell to customers for one or two months, and then pack up again. You don’t have to rent out a space for an entire year or more – just during the time you actually need it.
Lastly, pop-up stores are less expensive. Leasing out a space for several years at a time is a big financial commitment. Newer businesses usually don’t have these kinds of funds, making a pop-up store more attractive.
The Uberization of Retail
Just like Uber provided customers with more options for getting a ride, pop-up stores provide businesses with more options for presenting and selling products. This customization allows brands to stay agile in a changing marketplace.
If you think a pop-up store might be right for your business, please contact us today. We’d be happy to go over how setting up a pop-up store works, what benefits it might provide to your brand and where you can house your temporary store. Don’t settle for a lease that isn’t right for your business; take advantage of the Uberization of retail.