Traditional retail businesses are in the midst of a revolution, and it’s because the consumer demands it. Consumer interests, especially in the cities, are at the best of times fickle. The market is expanding to fit in a range of smaller, niche businesses, and one of the industries that’s being hit the hardest is the retail industry. Word of mouth is now on social media, and everyone is clamouring for the next cool trend, every business wants their 15 minutes. Now, some retailers are seeing how they can keep up with the trends and extend their potential fame. Brick and mortar retail businesses will never go out of style, but for now, they’re taking a backseat to mobile, pop up container shops.
If you’re looking to start or expand your business, look towards the shipping container business model. Here is a brief comparison of the traditional business model with that of a pop up shop.
Brick and Mortar Retail Shop
A traditional retail shop follows the traditional mould. You come up with a detailed business plan, you develop a marketing scheme to bring in customers, you obtain finances from personal savings, a loan, financing, investors, etc. You obtain the equipment you need, work out a floor plan and design, hire employees, get insurance and register your business.
Brick and mortar retail businesses are a bigger risk. They are more expensive to start up and not necessarily set up to succeed. If you are a small emerging brand, you may not be able to afford the long leases or get beyond the financial covenants needed for big shopping centres. A lot is dependent on the neighbourhood you choose to do business in. What you’re selling may not be in demand in the location you chose. In addition, operating costs are much higher when it comes to brick and mortar retail businesses, and you have far less flexibility.
Pop Up Container Shops
The main benefit of pop up container shops is the affordability. With options like GRID by The Box Brand
, you can reap the benefits of low-risk retailing, signing up for one or five years. Temporary in nature and smaller in size, the cost of rent will be much lower and you have the flexibility to close down a temporary location so you can avoid costs from a low-sales location.
The second most important advantage of pop up container shops is that they are a great way to generate buzz. People get hyped up when they hear there’s a pop up shop. Blame it on the FOMO, but if you tell people that your super niche shop is opening for a short amount of time out of a sustainable, converted shipping container, the consumer will flock to see what the fuss is about. The converted shipping container is a marketing tool unto itself. It’s a novelty that says a lot about today’s consumer society and our desire to be at the same time sustainable, responsible and ever-evolving and moving forward. These types of shops encourage spontaneous purchases, and as you move on from one neighbourhood or city to the next, you get to experiment with what works and what doesn’t and gain ideas for how to expand your business.
See how starting a pop up container shop can change the way you do business. Contact The Box Brand
for service around Australia today.