By Jeffrey Ross and Patti Moloney
Savvy business owners are cashing in on the new phenomenon of pop-up shops. This increasingly popular form of marketing and promotion allows retailers to reach a wider audience through temporary high-traffic venues.
The idea is simple: setting up a location in a public space, vacant retail space, or within an existing business that caters to the same target market. They can be open for as little as a couple of weeks or as long as several months, and when executed correctly, provide store owners with many added benefits, such as greater exposure, brand awareness, and reaching new target markets.
A captive audience
In a blog written by Toronto-based consulting firm, Retail Category Consultants, it’s noted the best reasons for a retail chain to open a pop-up shop are to launch a new product line, introduce a full-on rebrand of the business, or to capture a large audience through a sizeable high-traffic event, such as the Olympics or Fashion Week.
However, it’s not just large companies and retail chains that can benefit. Independent retailers, including jewellery designers, can also see great returns. Jenn Hovinga and Beverly Dunnington, co-owners of vintage jewellery redesign company Dystynct Boutique in Kitchener, Ont., saw an exciting opportunity in pop-up shops. The duo chose desirable locations in Toronto’s Queen West and Beach neighbourhoods to open their own temporary spaces.
“It’s allowed us to test new markets and introduce our unique product to a wider demographic,” Dunnington explains. “Of course, pop-ups can be costly, so we’ve shared the space with a complementary product: ladies’ clothing. It not only gives people more shopping choices, but also shows off our product and increases the network of possible clients, as well as splitting the cost of advertising.”
The one downside Hovinga and Dunnington have found is their pop-up locations have turned their attention from the manufacturing side of the business to retail. Despite the shift in focus, the pair is currently looking for additional pop-up locations, so they can share their one-of-a-kind jewellery with as many people as possible.
