Test the waters

So, you want to open your very first brick-and-mortar store. Whether you are an established online retailer or new business owner, it’s important to test the market before you sign any lease. Market testing helps you gauge interest in your products. For instance, what sells and what doesn’t in any given area? Is there a preexisting audience for your product that you can tap into? This is where pop-ups can make a massive difference.

Pop-ups are temporary retail spaces rented or leased by businesses offering products or services. Pop-up spaces provide retailers with a short-term opportunity to test a concept in a specific location — without a long-term commitment. They are great for product launches, introducing brand collaborations or promotions, and creating interactive ways to share your brand’s story. They’re also the perfect opportunity to dip your toes into operating a physical retail space.

Overhead costs are less than a permanent, long-term lease and you can rent a pop-up for a range of time periods — from as little as two or three days to as long as one or two years. Many pop-ups are housed within malls and shopping centers, so not only do you get brand exposure, but you also can test the market to see if your business is a good fit in that specific community.

Pop-ups provide flexibility that is game-changing for new and emerging business owners, especially when the budget is tight. If you’re interested in the variety of store formats you can find in a mall, check out our Retailvisory article on brick-and-mortar options.

Share your dreams

Another pro for pop-ups is their ability to build brand identity. More than just selling products, pop-ups allow you to create installations, experiences, and moments for customers. Maybe you provide a photo wall, a product sample, or an interactive game. These activations not only create positive associations for your brand, but can really express your mission statement and overall tone of voice. Not to mention, creating a highly Instagrammable pop-up encourages people to take pictures and share the experience with others, giving you free advertising.

Operating a pop-up shop offers you the perspective and experience you need to move forward on your retail journey. It leads you to better understand if the market you chose is right for you and helps determine how consumers are interacting with your product or brand. For more pop-up success stories and to get inspiration from major brands who have leveraged this format, read The Business of Fashion's full article here. It includes even more tips and skills to help you build the foundation of your retail success.