The rise of the pop up economy in Australia

Pop up stores are one sector of retail in Australia that in recent years have been gaining popularity and driving a stronger local economy. A pop up space Sydney is a temporary retail space set up to generate hype and sales for a brand. Usually, it takes up floor space of an existing retailer or an empty commercial space. Trading time frames can vary from days, weeks or several months. When done right, an effective pop up store results in increased foot traffic, impulse sales and brand awareness. 

Here’s why the power of pop up space Sydney can benefit you.

Many huge brands have harnessed the power of pop ups. Designer brands like Fendi have partnered with botanical designers to sell limited edition items. Likewise, Nike sold their sneakers from a shipping container in Paris. Additionally, Nescafe treats passer bys with their tasty complimentary coffee. Their temporary nature inspires more bold and brave ideas to grab a customers attention.  Pop ups like this continue to transform the retail landscape and have multiple benefits for established retailers, startups and landlords.

Established retailers

Established retailers can adopt the pop up store concept into their annual business model. It enables them to test out store locations and further capitalise on busy periods and seasonal sales. Also, they engage VIP customers, and enhance the customer experience through novelty and creative store set-ups. It’s an opportunity for businesses to change the format for shoppers. So, they get to provide a more personable brand experience where real interactions can take place.

Startups

Pop ups are a low risk tool for retail start-ups. This is because they provide a unique opportunity to incubate and drive revenue growth. It enables small businesses the opportunity to trial a retail space and sell their own branding. This is all without the larger upfront costs that come with opening a new store.

Landlords

Pop up stores are a win-win for retailers and landlords. Retailers can take advantage of lower rents and short-term leases. This is to test out a location and their products, engage and build their customer base and move stock. Meanwhile, landlords can earn an income from their vacant commercial spaces without forfeiting the chance to book a higher-paying tenant later on.

Harness the power of pop ups!

Spacenow is a site that lists out space for short-term use. So, this gives startups and entrepreneurs an opportunity to test the viability of their business ideas in a cost-effective way.

It’s important to consider the following factors when choosing a pop up store:

• Location: Choose a high-traffic location that fits your brand and customer base. In Sydney, places such as Paddington and Oxford Street are where retail vacancies at an all time high.
• Promotion: Promote the pop up via social media and create a buzz amongst VIP customers
• Experience: Ensure your store has an eye-catching layout and signage, is welcoming and is well staffed and stocked.
• Opening hours: Have regular and possible extended opening hours depending on the time of year and theme.

If you are a startup, established retailer or a landlord and have any unused space that would be perfect for a pop up space Sydney retail store, be sure to list with us! Just click here.

 

If you’re looking for a pop up space, then you have plenty of options to choose from. Click here to start your search!