The term ‘pop-up’ until recent years would have been reserved primarily for children’s books. In more recent years this term has been expanded to include temporary shops springing up in major cities on a temporary or seasonal basis and generally specialising in one very specific item. In the years since the beginning of Ireland’s financial crisis, our shopping habits have naturally changed, from the original slump in shopping habits to our current push back towards consumerism. Pop-up shops were previously designated towards the more seasonal products (Christmas decorations, calendars etc.) In more recent years we have seen a trend towards these pop-up shops becoming more popular and being more widely utilised as a marketing tool, so what does this shift mean for other businesses?
The financial crisis naturally took a large toll on all businesses, in particular the retail sector with many shops in towns and cities being left largely vacant. With pop-up shops now beginning to utilise these vacant spaces it is hoped that stores will feel the benefit of increased footfall in their respective areas due to the increased interest in these temporary specialised stores. With these stores becoming increasingly popular, it is not just vacant stores which are being utilised, well known storefronts are being transformed into these temporary niche stores. Arnotts in particularly has become quite a haven for these pop-up shops, leaning primarily to the food sector with Magnum and trendy doughnut emporium Aungier Danger both choosing to set up shop temporary in their Henry Street storefront.
With the rise of this phenomenon, a new Irish company has recently been revealed which aims to specialise in pop-up shops. Popertee, the brainchild of Lucinda Kelly utilises the digital marketplace to connect businesses and marketing professionals with appropriate pop-up space. The intention is that this will function in much the same way as the highly popular travel accommodation search engine AirBnB. This could be a highly beneficial and extremely simple way to grow your business and gain new customers by making yourself and your business more visible and present in a new location for a limited time. Pop-up stores also allow a business owner to test the popularity of a product in the short term before making the long term commitment to a location. Lucinda Kelly has been quoted as saying that the model to be used is quite easy to use which will be good news for all busy business owners:
“The model is really simple. We are trying to make it a three-step-to-pop process where, on our website, you can view, consult with the owners and book your location straight away.”
This idea could change the face of retail as we know it as it will open up the idea of a pop-up store to many business which until this point may not have had this option available to them and may even bring businesses who function solely online back into the bricks and mortar business of face-to-face retail. Popertee currently has 50 locations signed up, and are on the hunt for more to add to their files
Here we see business and retail make a conscious effort to step into the new technological age, and whilst many business owners may not welcome this shift (or welcome our new robot overlords) this could be a step in the right direction for smaller stores and SMEs to get their name on a premises in a prime location for a short period of time. One thing is certain though, pop-up shops
If you require any assistance with your own business, be it advice or financial direction please don’t hesitate to contact us here at DCA Accountants where we will be happy to help.