Self Analysis: Should I do a POP UP store?
What is a pop-up store, anyway?
A pop-up store is a temporary retail location, usually opened for a short period of time to support a specific promotion or niche. Retailers can use pop-up stores to create an new a different experience for their customers, and to raise awareness of their brand.
Is a pop-up right for you?
Add up the pros and cons to see if this type of marketing makes sense to you and your business.
Let’s make this fun, and there’s nothing more fun than a test! Score yourself 1 through 5 on the following statements, 1 being that is completely NOT me or my store, 5 being that is me/my store to a tee.
- My store is significantly overstocked and my new season orders are on the way.
- I need to build awareness of my existing store with a new or unaware customer base.
- I am prepared for myself, my family, my staff and even my pets to work like slaves for a full weekend at least.
- I have a POP UP location that is economically feasible that will NOT take business away from my existing store locations.
- I have time to plan and prepare an advertising strategy for the POP UP.
- I have a POS system that can be used or tied into the POP UP store so I can track and measure sales, markdowns, Inventory and potentially new customer information.
What’s your score?
- 1-10 = Take the weekend off have a BBQ with family and friends …Life is GOOD!
- 11-20 = Give us a call. POP UP may not be the answer but planning your inventory for Cashflow and Profit is always critical.
- 21-30 = Put on a smile, get your team excited it’s time to POP UP!
Stay tuned next time for the definitive POP UP Store check list!
Scott Smith is a certified Winning@Retail™ consultant at CRS. Scott has worked with retailers for over 20 years on the sales floor, through all levels of retail management, operations, and marketing.