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THE POWER OF THE POP-UP


While the ease of online shopping has certainly accelerated its popularity throughout the pandemic, consumers are also eager for real-life experiences and connections with brands. And as the world begins to recover and return to some semblance of pre-pandemic normalcy, a recent poll found that a vast majority of Americans (85%) say that they still enjoy a real in-store experience [source].

Whether you’re a local business looking to test out your first physical retail presence in your community, or an established brand looking to engage with your customers in a more tangible way, you probably understand the value of physical retail spaces and experiences. But what if you just want to test out a location, unload excess inventory, or create buzz for a limited-time-only event? Say hello to the power of the pop-up!

So, What is a Pop-Up?
The term “pop-up retail” can refer to a variety of temporary leases and store formats. From one-day activations in the mall’s common area to seasonal boutique shops, these short-term stores and experiences “pop-up” for a limited time only, often to coincide with a particular event, product launch, or shopping season. The power of the pop-up is that regardless of your brand’s size or the products you sell, with a little strategy and creative marketing, any business can find success in the world of pop-up retail.


BENEFITS OF OPENING A POP-UP:


  • Experiment Without a Long-Term Commitment: Unlike traditional retail leases, there is a lot of flexibility when it comes to negotiating a lease for a pop-up space. For example - the time frame for a pop-up lease may be as little as one day, one week, one month, or a season - and therefore they tend to be less expensive than traditional leases. This allows your business to experiment with a new concept, seasonal product, or to test a new market demographic altogether - without the long-term financial commitment of a traditional retail lease.


  • Build Lasting Connections with Your Customers: While the digital world allows businesses to connect with potential customers 24/7, nothing can replace face-to-face interactions. The power of the pop-up includes the ability to create memorable in-person experiences that reinforce your brand message and connect with your customers on a more personal, human level. By focusing on excellent customer service and creating an immersive experience, you can build a repeat customer base that will remain loyal long after your pop-up ends.


  • Drive Sales During Busy Seasons: The temporary nature of pop-up retail allows your business to take advantage of major selling periods. Think of the rush of extra foot traffic surrounding the back-to-school shopping frenzy, or the uptick in annual retail sales thanks to the holiday season in November and December. A temporary pop-up shop presents a great opportunity for established brands and new concepts alike to set up shop with seasonal gifts, themed products, or experiential activations.


IN CONCLUSION

In part thanks to the pandemic, the retail industry has had no choice but to evolve at a rapid pace. And while the concept of pop-up retail may be nothing new, there has never been a better time to generate buzz for your local business, and reconnect with your customers face-to-face.

Ready to take the next step and pop-up with us? Contact your Centennial Local Leasing and Business Development Representative today: Contact Us.


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122 Hawthorn Center
Vernon Hills, IL 60061
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