Melissa Gonazalez, Founder & CEO, The Lionesque Group & Author of Pop-Up Paradigm
Thursday, November 17, 2016
Headquartered in the U.S., Lionesque Group has produced over 80 pop-up retail experiences in New York City, Los Angeles and the Hamptons with the vision of branded experience. The entity guides clients throughout the entire lifecycle of the 'pop-up experience'.
In the past, malls across the U.S. captured customers and retailers. Then, in the 90s, the paradigm shifted to e-Commerce options. Today, the retail trend is evolving to the in-person experience of pop-up shops. What is the impact of these temporary retail venues have on Omni-channel marketing strategies for business owners, and what role do they play for established brands?
Pop-ups are no longer just a trend. They are now a sufficient vertical when companies are evaluating their overall business plan and marketing budgets for the year ahead. Whether it is to introduce a new product line, experiment with new partnerships or test a new market, they take significant investments but can have valuable returns.
When perspective new clients call the office, one question I am always asked is: ‘what is the ROI if I do a pop-up shop?’ Instinctually, brands always think of sales when they mention return on investment, but in a short term retail stint, one cannot limit themselves in only thinking about sales for the duration of the pop-up store. Of course, some portion of your ROI is sales, but to focus solely on in-store sales as the one and only key performance indicator is short-sighted. There’s a bigger picture that involves building the brand and the sales it will lead to in the quarters to come. It is imperative to remember there’s a difference between qualitative benefits and sales. Qualitative benefits can eventually lead to more sales, but they’re not the same thing.
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