Pop up retailers are the fastest growing business sector in the UK a study has revealed. Stimulated during the recession, the sector is on course to contribute £2.1bn to the economy.
What are Pop Up Retailers?
Pop up shops come in many forms, but they all have a time limit. Some are stalls, others use the empty spaces where shops used to be.
The Study
More than 9,400 stores employing 23,400 people qualify as a pop up shop, according to a study by EE and CEBR. This study reveals that the pop up retail economy is likely to grow 8.4 per cent over the next year, which is double the figure projected for the high street.
The report suggests growth could be stimulated further is high rate and rent costs, technological shortcomings and space problems were tackled.
The spending forecast also looks set to increase from £110 to £120 per shopper.
How EE are Helping the Sector
EE has said it intends to help 3,000 pop up shops over the next three years by giving them technology and advice. They have joined forces with Appear Here, an online pop up space marketplace, the British Retail Consortium and pop up entrepreneurs to use the 15th anniversary of the business culture to launch a campaign to encourage newcomers.
Mike Tomlinson, EE’s director of small business says empty shops and consumer culture changing rapidly over the last decade have created a “booming pop up retail economy”.
He added, “Pop-up shops truly embody the entrepreneurial nature of the UK by combining these two factors to disrupt the retail market and bring a breath of fresh air into the high street.”
Ross Bailey, chief executive of Appear Here says pop ups are really important in the changing face of the high street, “Tomorrow’s high street will be about entertainment and experience and this is what pop-ups do better than traditional retailers.”
How You Can Get In on the Action
The first thing you need to think about is why you want to have a pop up shop. A pop up shop can be useful for many reasons. It might be a great way to get your name and products seen, or it could be a good way to test out the market.
The second is the venue itself. Think about a temporary building like the ones from Neptunus Structures if you want to stand out, or use an empty shop space for things like ideas on footfall.
Check out popupbritain.com for more information.
