When people hear the term pop-up store or short-term retail space, they often think of those little kiosks in the mall selling toys or sunglasses. While kiosks certainly serve a purpose for brands, pop-up stores are not exclusively for lower-priced items. In fact, many luxury brands benefit from opening a pop-up store. Short-term retail spaces provide many unique advantages. Here are just a few of those benefits:
A Personal Touch
The main benefit of a pop-up store is that it provides a personal touch. If you only operate your luxury brand online or in select locations, you don’t have much of an opportunity to interact with your customers.
A short-term retail space allows you to demonstrate your product and entice new customers. For example, if you’re selling high-end skincare products, your customers will likely want to test them out before they spend any money. Letting customers test, smell and try your products is a great way to promote certain luxury brands.
With a pop-up store, you can also offer product customization. Many luxury brands like to offer customizable products to offer a special experience for customers. While this is possible to accomplish online, engaging customers in person generates more impactful conversations.
A Unique Experience
The other major benefit of leasing a pop-up store for your luxury brand is that it allows you to provide a unique experience. You’re a luxury brand – you’re not just selling any mass-produced product customers can find anywhere. Your target audience is people who have some money to spend, and who are selective about where they spend it.
With a short term retail space, you can create a unique experience for your target audience. For example, let’s say you’re selling custom-perfumes. From deciding what size pop-up you need, to designing your space, to building the right atmosphere – luxury is about creating a detailed and well-crafted experience.
Not only are your customers engaging with the product, you’re also drawing in customers with the experience of building a personalized scent. This personalized and unique experience will stay with customers longer than any experience online. It also builds a sense of value in the product itself. Not only that, offering experiences generates buzz around your brand.
Getting Started with a Short-Term Retail Space
If you’re a luxury brand, looking for ways to expand your market or take your brand from offline to online, a pop-up might be right for you. To find out more about the advantages of running a short-term retail space for luxury brands, contact Westfield today.