Pop-up retail, also known as pop-up shop or flash retailing, is a trend of opening short-term sales spaces that started in Los Angeles and now pop up all over the world.
"A pop-up retail space is a venue that is temporary: the space could be a sample sale one day and host a private event the next evening." says Allison Brudenell, Director of MMJ Real Estate.
The trend involves "popping up" one day, then disappearing anywhere from one day to several weeks later. These shops, while small and temporary, are used by companies to build interest in their product or service, and seed their product with cultural influencers.
"Pop-up retail allows a company to create a unique environment that engages their customers and generates a feeling of relevance and interactivity." Says Allison.
"We've just leased a space at 230 Toorak Road in South Yarra to beauty retailer Bat Your Lash who snapped up the 46sqm short term opportunity at $673/sqm/pa."
"Our developer landlord was seeking short term rental options prior to demolishing the building later in the year. MMJ Melbourne were able to source a tenant quickly due to the demand from retailers like Bat Your Lash for pop-up style spaces."
Pop Up Shops are often used for seasonal items such as Christmas gifts but in more recent times online & start up brands are using the temporary shop fronts for marketing, testing products & locations, or as a low-cost way to start a business. They also allow operators to capture foot traffic without committing to a long-term lease.
"I recently partnered with the team at Mr Bratwurst who were very popular in the Prahran Market but wanted to build brand awareness for their sausage business in more areas. We placed them into a space in Toorak Road for $1,190psm, which allowed them the exposure they desired."
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