Four major brands will open pop-up shops in central London this spring. Despite the name, pop-up shops are now a permanent fixture in the retail landscape and their numbers are increasing.
In fact, pop-up shops are such a valuable asset that a ′pop-up lease′ was the hotly contested prize at this year's Completely Retail Marketplace.
However, their popularity should come as no surprise given the number of benefits, they bring to both landlord and tenant.
To name but a few:
• Retailers can capitalise on a sense of urgency – be it a limited collection or exclusive experience – such as augmented reality!
• They create buzz. Pop-up shops’ limited space and opening hours mean that people often queue to enter. This increases footfall which other retailers can also benefit from.
• Pop-up shops help landlords bridge the gap between longer leases and therefore ease the burden of business rates.
• Retailers can maintain a physical presence and keep their brand in the public eye whilst avoiding the supply chain and staffing issues of traditional shops.