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Benefits of renting a retail space

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Benefits of renting a retail space

Even though eCommerce has penetrated almost every part of the world, having some form of physical presence amongst your customers is one of the ways you can boost sales and brand loyalty. According to studies, only 11% of retail sales in the USA happen online. This means the largest percentage of retail sales take place at physical stores. If you are looking for retail space for rent, one of the most feasible and cheap options is setting a pop-up shop.

A pop-up shop is a short-term flashy retail space/store that is usually opened to last a couple of days or weeks. Pop-up stores are one of the new trends adopted by online stores that do not have enough resources to run permanent physical stores.

In this article, I am going to share with you the benefits of pop-up shops. Let’s jump in.

 1. They create the urgency to shop among customers.

When your customers know that you have set up a pop-up shop, they will always try to run and do their shopping there before it eventually closes. This kind of hype will generate lots of sales, more so if you have done enough awareness about its availability. You may also have to offer some form of discount if you want customers to flood the pop-up shop.

 2. Pop-up shops can be used to launch new products.

If you are having a new product that you want to introduce to the market, setting a pop-up shop is one of the most effective ways you can get your target market to know about, and also buy this product. It also gives your brand representative a chance to explain how the products work physically to the customers.

 3. They are less risky

Setting up a pop-up store doesn’t involve a lot of costs which makes it a less risky move than having a real permanent store. So, any small business that wants to engage with its target customers physically can do this without investing a lot of money.

 4. You can set up a pop-up shop to test a new location.

If you intend to launch a physical store, one of the best ways to know the best location to put it is by setting up a temporary pop-up shop. You can set up pop-up shops in several locations and then determine the most ideal one based on the traffic you get.

 5. It can help you get rid of idle stock.

One of the best methods you can use to sell goods that are not moving on your online store is by discounting them and selling them at a pop-up store.

Closing thoughts

Pop-up shops are slowly becoming a common trend amongst small and large eCommerce stores that are seeking to have some form of physical presence amongst their customers. So, if you are one of those brands looking for temporary retail space for rent, pop-stores should be your ideal choice thanks to the many benefits they have over other alternatives like permanent stores.

 

We are a team of writers passionate about innovation and entrepreneur lifestyle. We are devoted to providing you the best insight into innovation trends and startups.

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