PopUpStores_Body.jpgBy Robert Lerose.


For a small business that would like to open a new location without the heavy investment of a long-term commitment, pop-up stores provide a popular and practical solution. Essentially, a pop-up store is a temporary structure that can last from a few days to a few months. It can be set up in an empty neighborhood storefront, a parking lot, within the confines of your existing retail establishment—almost any space where your customers might be.


Shopify, which provides a platform to help businesses grow and manage their operations, gives these reasons to consider trying a pop-up store.


1. Find new sources of revenue

A pop-up store lets you test a new product or service to see whether it could become a significant source of additional revenue without the expense of establishing a permanent retail presence.


2. Reach out to offline customers

Studies show that customers who shop online still like to try or touch products before they buy. Pop-up stores help you connect with online shoppers for an offline buying experience.


3. Drive sales through exclusivity and scarcity

The temporary nature of a pop-up store lets you promote products for a limited time or products that can't be found anywhere else—spurring customers to buy immediately.


PopUpStores_PQ.jpg4. Tie in products with the season

Customers typically spend more money around the holidays or look for bargains during particular seasons. Putting up a pop-up store at strategic times of the year can capitalize on, and even amplify, that buying impulse.


5. Deepen customer awareness of your product line 

Some products need to be explained in detail before they catch on with the mass buying public. A dedicated pop-up store can provide demonstrations, gain customer attention, and lead to sales of these hard-to-understand products.


6. Show up where your customers shop

Do your best customers shop in a particular neighborhood or street? With a pop-up store, you can set up a place to sell your products in prime locations that your customers frequent and be wherever they are. 


7. Spread the word about your brand

A pop-up store lets you distinguish yourself from your online-only competition with a visible, tangible presence. Events and other promotions directly tied to your pop-up store can boost awareness of your brand.


The modest costs and low risks of a pop-store let small business owners earn extra dollars and forge stronger bonds with their customers.


Bank of America, N.A. engages with Touchpoint Media Inc. to provide informational materials for your discussion or review purposes only. Touchpoint Media Inc. is a registered trademark, used pursuant to license. The third parties within articles are used under license from Touchpoint Media Inc. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.


Bank of America, N.A. Member FDIC. ©2016 Bank of America Corporation



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