At Belardi Wong, we have an incredible vantage point into the latest in marketing opportunities and retail trends. This includes some of the best experts across categories. We asked Jeremie Lahmi with Naked Retail Group to answer a few of our pressing questions on retail pop-ups.
Q) WHAT IS DRIVING THE DEMAND FOR POP-UPS?
A) The ever-changing retail landscape. Experience is now key as customers want to touch, feel and experience goods. Only physical experiences can answer this need.
Q) HOW DO YOU CHOOSE A LOCATION?
A) It depends on what the goals of our clients are: is it sales? purely marketing? visibility? Depending on the answers, we’ll adopt a different strategy regarding location.
Q) WHAT ARE THE MOST IMPORTANT ELEMENTS INSIDE THE POP-UP?
A) Experience through design. People often believe design is about how things look – but it is above all about how things work. A solid experience can only come from a strong design approach.
Q) HOW DO YOU DRIVE FOOT TRAFFIC TO YOUR POP-UPS?
A) A lot of it has to do with building the right PR and Marketing plan. For instance, we recently opened a 4-day pop up for Supergoop! It ended up being a very successful experience for them as they managed to spread the word through social media and press very quickly.
Q) HOW MUCH DOES IT COST TO TEST A POP-UP?
A) It really depends on the type of experience brands are looking for. Within our collaborative spaces, typical experiences go from $12,000 to $40,000. These flat partnership fees include space design, buildout, staffing, inventory management and access to the space to host events. Standalone experiences typically range from $85k upwards of $400k. A few key factors to take into consideration when budgeting… location, store size, design and finishing goals, experience requirements…etc.
If you have any questions on pop-ups, Jeremie would be happy to connect with you here.