Starting a new e-commerce business is no easy task. Typically, you’re building a sturdy inventory, cataloging items on your website and generally building your business from scratch. Competing with others in your niche or other recognizable brands can be challenging. Even with a decent launch, you may find your new e-commerce business stalling out. If this happens, you may need an event to give your business a jump start.
Consider a pop-up shop. With their increasing popularity over the past few years, they offer e-commerce businesses advantages unavailable online, while also staging them to compete with physical retail stores.
What is a Pop-Up Shop?
A pop-up store is a temporary retail store. Businesses can rent out a space for a few days or weeks and use it to promote their products and make sales. Pop-up stores have become popular with both small businesses and large corporations alike and have really become a dominant factor in the market place.
How Would a Pop-Up Store Benefit My E-Commerce Business?
How could a pop-up store benefit you? Imagine you run an e-commerce business that sells clothing online. You’re having a hard time making sales because the industry is so crowded. To boost sales, you decide to open a pop-up shop.
You set up an attractive pop-up shop within your local mall and because you’re only there for a short time, you don’t need to worry about long-term lease agreements. On top of this, everyone coming to the mall will likely pass by your pop-up store, increasing your brand’s awareness.
Clothing may be something people want to feel or try on in-person. With a pop-up store, they can stop in and physically see the quality of your product, which isn’t something they can necessarily do online. This exchange can drive purchases and encourage customers to visit your website in the future.
This example can apply to a wide range of businesses. Pop-up shops allow you to interact with your customers in a new way without the high costs of owning a store.
How to Get Started with a Pop-up Shop
Here’s what to consider before you get started. First, you need to choose a location. Find a place where your target niche typically goes that offers a lot of foot traffic.
Once you have a place in mind, you’ll need to pick a time and duration. The longer you stay there, the greater the costs. You’ll have to weigh the pros and cons for your own business. Whether your products are seasonal or not, choosing the right time of year can be key.
Finally, you need to prepare your temporary retail store. With e-commerce, you may be selling a ton of products but only showing a capsule version of your store. Have plenty of products on hand to sell, provide eye-catching displays and signs to attract people, and don’t forget to promote your website and social channels. Even if you don’t make a sale that day, people might return to your website later to see your full selection.
If you’d like to take your e-commerce business to the pop-up world of retail, contact Westfield for more information.