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Open a Pop-Up Shop to Test a Market

 If you’re thinking about opening up a retail shop in your local neighborhood or in a neighboring one, the best way to test your market is open a pop up shop. Pop up shops save you from having to sign a lease that you can’t get out of. This would be particularly devastating if you find that the area you want to open your shop in is not very responsive to your services or products. A pop up shop enables you to open your business temporarily to test the market, and gives you the ability to move around freely to test potential consumer segments in other areas.

Why Pop-Ups?
Pop up shops are opened everyday, and the renters of these shops can sell any and everything. Some shops only pop up seasonally and others just pop up for a few weeks and in some cases a few days. Seasonal shops often benefit form using the pop-up shop method to test the waters. In addition, opening up a temporary retail outlet is substantially more cost-effective for a budding brand than getting locked down in a contractual permanent brick and mortar space.

Backed By Demographic Research
Opening up a pop-up shop in your area allows you to see how the market is in that particular area. Maybe the location isn’t right for you, or maybe you’d be more profitable if you had only opened up just 1 mile away. The only real way to find out is to open a flash pop-up shop.
Using a company that does demographic research is a crucial and responsible approach to considering a geographical location to open up a pop-up shop. These companies are also able to provide information include shopping patterns, purchasing trends, income data, and seasonal focus in specific areas of focus.
They’ll be able to tell you what type of stores are successful in the area, how successful your competition is, how many shoppers come through that area and how likely they are to view your store in a certain area, something that a basic Wikipedia search cannot.

Special Info for Online Businesses
If you’re an online only business, a pop up shop could help you see how your business will do in the real world. How are customers responding to your products when they see them in store? Is allowing the customers to view and touch your products in store increasing your website visits and sales? The only way to find out for sure is to open a pop up shop and test out the market.

And we would be happy to help.

Reference: thestorefront.com