It is hard to believe, now that they’ve become a popular and more well-known retail option, but the pop-up store has only been around since the early 2000s. The model has gained popularity steadily over the last ten years and become a regular part of the retail experience for many shoppers. Everyone from artists to major retailers have tried their hand at the model and their successes have only ensured that it will continue to be a part of the retail experience in the city for years to come.
Pop-up shops are short-term retail stores. These stores can be indistinguishable from more traditional retail stores or offer something unique and unexpected, such as more amenities or higher quality service. After running the store for their pre-determined time, which can be anywhere from a few hours to a year or more, the shop closes down and the retail space is made available to other tenants again.
A pop-up shop NYC benefit merchants, commercial landlords, and even consumers. Often, a space for a pop-up shop will cost much less to rent than a more permanent store location, saving the merchant money. For the landlord, it is a way to earn some income on a property that isn’t attracting long-term tenants, for whatever reason. For the consumer, these reduced overhead costs can translate into good prices and access to goods that wouldn’t normally be available to them.
Not all businesses are suited to the pop-up shop model. Ideally, the business needs to be one that doesn’t want a more permanent location. A good example of this is an online retailer that wants to attract new customers who don’t shop online but that doesn’t want to maintain a permanent, physical storefront indefinitely. Designers might open a pop-up shop to show off their new collection or to clear out old designs they no longer want. They are also a good place to sell limited edition merchandize or specialty items that won’t be available for long. Another type of business that benefits from the model is the seasonal business. Halloween stores are probably the most recognizable of these types of seasonal stores, but retailers that specialize in things like beachwear or holiday goods might also want to try a pop-up store.
Pop-up stores also function as a testing ground for companies interested in moving into new areas. During their run, they can see how well specific products sell in the area, or how well their type of goods or services perform in general in that market. This option is less expensive than opening a new, more permanent location, and allows companies to more easily cut their losses if the venture does not perform as well as expected. Customers also respond well to the excitement of a short-term store with limited run products.