Just because retail stores are experiencing some hard times does not mean that shoppers aren’t making purchases. It is true that US. retail sales fell again in June 2017 (by 0.2%) after a small decline in May (by 0.1%). However, two months of small declines after 16 months of increases may not yet be a “trend.” Let’s wait and see. Summer vacations may spur some impulse vacation shopping and spending in restaurants and at summer resorts.
In the meantime, let’s look at a trend that does seem to have some upward momentum—pop-up shops. Vogue calls pop-up shops the future of shopping. With some retailers leaving malls and store-fronts due to a myriad of reasons—downsizing, bankruptcy, and changes in marketing and sales strategy—pop-up shops are taking advantage of these vacancies. Some retailers are now hesitant to sign long-term leases, leaving more locations available for pop-up shops.
Goals of Pop-up Shops
Constructing a pop-up shop can provide you with many benefits. For retailers who are selling only online, having a popup shop can provide that “touch and feel” opportunity for customers to interact with their products. The increase in foot traffic can raise visibility and brand awareness. Pop-up shops can help you to create a deeper relationship with your customers—building loyalty or showing your appreciation for their business. You can test a new market and educate prospective customers on your product line. In addition, you may be striving for “Boundaryless Retail”—a notion introduced by Mindy Grossman of HSNi—the expansion of products into more and more channels.
Location of Your Pop-up Shop
How do you decide where and when to erect your Pop-up Shop? Economics, such as the cost of rent, marketing, and inventory, will likely have a huge impact on your decision. However, store-fronts and malls with high foot traffic that are close to your target demographic should be considered.
Products That Work Well for Pop-up Retail
When we think of pop-up shops, we invariably think of temporary Hallowe’en and Christmas stores. It is true that seasonal products are a good option for pop-up shops. However, other products are also conducive to this format. Products that are an impulse buy, have a lower price point, or offer the shopper a taste of affordable luxury are good possibilities for pop-up shop success. In addition, products that support the urgency to buy are also promising. After all, the pop-up shop is only there for a limited time!
Get Started with Your Pop-up Shop
inRiver PRIME Partner, Sophelle, recently published their latest Focus Report, entitled “Boundaryless Commerce: Pop-up Retail.” We invite you to learn more about the strategies, tactics, and technologies that are available to support you in this effort. Don’t miss this trend and opportunity! Download the report today.
Kathryn Zwack, Senior Content Marketing Manager, inRiver
In the world of digital commerce, “customer experience” has become the buzz word, or buzz phrase, of the day. Digital commerce enterprises—whether B2B or B2C—want to provide their customers with the best possible online buying experience.
By 2020, companies expect that customer experience will be more important than price and product offerings as the key method of differentiating their brand. This is not really all that surprising, considering that buyers have shown that they will pay a premium for convenience and that they can be brand agnostic if they find the right product.
Getting buyers to find your product quickly through compelling product content and targeted personalization are the keys to e-commerce success. In fact, one study revealed that 70% of respondents indicated that customer identification or personalization of customer experience is a leading priority for 2017.
The question is: How do you create a great customer experience?
inRiver has teamed up with two of our most valuable and most experienced partners to try to answer that question. We are collaborating with Episerver and Rightpoint on the strategies and tactics that can help you provide a stellar customer experience each and every time. Join us on Thursday, April 20, 2017 for a complimentary webinar where we introduce these concepts.
At this online event, we will cover a number of topics, such as:
In addition, we will discuss how to create great product content to use in your personalization efforts. Last, we will highlight some great real-world examples that show how your B2B and B2C peers are creating great customer experiences.
You know that customer experience is one goal of your e-commerce initiatives. Don’t miss this great opportunity to learn more about the tools and strategies to meet your e-commerce goals.
Kathryn Zwack, Senior Content Marketing Manager, inRiver Inc