By Linda Farha, Founder and Chief Connector, pop-up go
With humble beginnings as an unconventional marketing tactic, the pop-up trend has quickly grown into a legitimate and successful business strategy for both brands and landlords.
As a short-term commitment, pop-ups provide the flexibility needed for brand development and experimentation on both sides of the industry.
For landlords, pop-ups present an opportunity to test diverse tenants, increase the visibility of their space and generate short-term revenue. Hosting a successful pop-up allows landlords to demonstrate the value of their property to potential long-term retail tenants.
For retailers, pop-ups are an effective way to build consumer relationships and test new markets before committing to a permanent location. These activations are no longer simply geared towards point-of-sales goals, they are intended to provide an unforgettable experience, and a forum to interact with consumers in an unconventional way. According to EventTrack, the largest experiential research report, 98 per cent of consumers feel more inclined to purchase after attending an experiential activation.
The Wonderbra pop-up boutique in Montréal last week, and in Toronto on Saturday, September 23 (25 Charlotte Street), offered visitors complimentary hair products, gift bags and expert help with on-site bra fittings. A strategic choice considering 80 per cent of people who attend an experiential activation said live demonstrations and free samples play a significant part in defining their purchasing decision. By cultivating an interactive and personal service not typically available to consumers, Wonderbra is adding a new dimension to their brand.
Against the backdrop of a competitive advertising landscape, marketers are turning to pop-ups to generate organic word-of-mouth promotion, through press coverage and the power of social media. A staggering 77 per cent of marketers are using experiential marketing as a vital part of their brand’s advertising strategy.
While pop-ups continue to play an important role in building brand value, they are also reviving ‘brick and mortar’ in a world where ecommerce is hitting its stride.
Originally an ecommerce brand, Gwyneth Paltrow’s Goop tested multiple markets with a pop-up shop inside select Nordstrom locations across North America. This fall, the lifestyle brand opened Goop Lab, its first permanent retail space in Los Angeles. From ecommerce to brick and mortar, Goop’s pop-ups provided valuable insight for large-scale business decisions.
As 2018 is predicted to be the year of the pop-up, landlords can expect to have more requests for short-term tenancy, providing new ways to boost the exposure of their spaces. Retailers will continue to capitalize on this trend and are finding new and innovative ways to leverage the relationship building potential of pop-ups.
Linda Farha is the Founder and Chief Connector of pop-up go, a trusted online space connector for landlords and space seekers across North America. The platform allows users to list and discover spaces making it easy to find the perfect tenant to fill your space or location to host your pop-up.