It may seem like an insurmountable challenge to go from having an idea to opening your first shop. If you are in that position, we have some great advice from one of the greatest entrepreneurs in recent times...
Read MoreReasons why you need Pop-Up Space in Your Mall
17 November 2020
Why Shopping Malls should encourage Pop Up stores.
Then consider making space available for pop-up stores. Pop-ups are the way of the future and they’re being used by everyone – from big brands to new brands – to showcase new products and cool ideas.
Malls provide a platform for these products to get some exposure, and at the same time they offer increased foot traffic as more shoppers are attracted to the mall. Start-up brands and ecommerce businesses need the opportunity of pop-ups to showcase their products and to test the market for physical sales and pop-ups are the ideal opportunity for that.
And a mall that allocates space for them to do that has absolutely nothing to lose.
Malls are currently experiencing challenges as traditional retail slows down across the globe. Besides the fact that lockdown rules keep shoppers away from malls, there’s less money to be spent and the growth of online retail to contend with. Long-term leases are no longer a sure thing, with many anchor tenants being forced to close down.
On top of all that, millennial shoppers are also wanting a new, fresh experience when they visit a mall. They want something exciting and different, and pop ups are able to fill this gap and at the same time help to keep malls afloat.
There is demand for new retail experiences, where shoppers can be immersed in the excitement of a new brand or idea. Dedicating mall space to this kind of concept will bring new traffic and create excitement around the mall.
Change is never easy but the current retail landscape and the demands of a new generation of shopper need to be considered. Pop-ups could be what saves old-style malls from shutting down and they could help create a whole new sense of community in these spaces.