Pop-up Shops Give Retailers Christmas Sales Boost, says ICAEW
“Pop-up” shops could be the answer for small retailers, restaurants, cafés and creative businesses looking to boost their Christmas sales, the Institute of Chartered Accountants in England and Wales (ICAEW) has said.
A pop-up shop is a temporary, low-cost space that allows new businesses to set up a premises, or existing firms to try out a different location, and create a marketing “buzz” around the launch.
ICAEW head of enterprise, Clive Lewis, said that Christmas is an ideal time for small firms to set up pop-up shops as they can take advantage of increased consumer spending.
“In the lead up to Christmas, retailers are looking for new ways to push up sales. Pop-up shops can help with this as they are around for a limited period and create a sense of urgency to buy, particularly as there is a peak in customer demand during the festive season.”
“They also provide a chance for new businesses to ‘test the water’ and see how their product would sell in a live situation as opposed to selling online.”
Lewis added that the current market conditions mean that firms setting up a pop-up shop may be able to negotiate cheap rents.
“I’ve just set up my business, so a pop-up shop is ideal for me to test whether there is a market for my products. I won’t be able to afford permanent premises for a few years yet, so this is a good way for me to attract customers.”
“It’s easy for retailers to set these up, and much cheaper and less risky than committing to long-term rental contract. I don’t know if it would work for every business, but it seems to be working well for mine.”