INSIGHTS

Pop up stores and the experiential retail economy

Online shopping can be a consumers’ first choice for convenience, variety, and cost, yet staring at a screen just doesn’t compete with the experience of entering a physical store. Many online brands are beginning to utilise the popup experience for their brand and are reaping the benefits. This introduces the rise of the experiential retail economy and makes store design and retail fitouts all the more important.

Experiential retail refers to how people consume and respond to products or services depending on the retail experience they’ve had in association with the brand. When a store is fit out to create an amazing and memorable customer experience, it is attracting shoppers who are after more than purchases. They expect a unique experience that is different from what they get in a permanent store and want to feel emotion when interacting with the store design and brand.

A meaningful store experience plays a big part in retail, 43% of consumers are likely to spend more money with a retailer who offers meaningful in-store experiences and 46% identify environment as a key element of meaningful shopping experiences. Storepro offers clients fit outs for popups or temporary spaces that give customers a new type of shopping experience, with each store having the ability to make itself unique through its design and shopfitting.

While popups can be designed to create emotive experiences for your visitors, turning them into long term customers and increasing sales, they can also lead to brand development. Popups are a beneficial way to determine if your brand has enough weight to make it in a brick and mortar store while the physical store can help to generate sales and move old stock.

Opening a popup store is a chance to test the market, seek feedback from real customers and foster relationships. Having conversations with customers can spread your word of mouth referrals, if you’re giving them a great experience, they will want to tell people about it. Popups also help build awareness for your brand and can allow you to experiment with locations to see how products perform. Even if customers don’t step into the store they will still be exposed to your branding.

The Daily Edited, a former web-based store opted for a popup store in Sydney this year. Alyce Tran found that half of her customers already knew her brand from the internet. Initially, an experiment to see if the brand had enough weight to sell in physical stores has turned into a new opportunity for the brand. “It proved a great way to test the market. You see how people react to the product and work out how to present it. Because of the success of the pop-up shops, we’re now opening in David Jones”.

If you’re after some help creating your popup shop design or shopfitting, get in contact with Storepro. We can explore a variety of ways to get your brand noticed and talked about which doesn’t have to involve a permanent fitout. We work with you on your concept, objectives, and budget. Let us share our in-house design and construction knowledge to deliver pop-ups and temporary brand activations that are innovative and cost-effective.

Could a pop up be the next best thing for your brand?