Pop-Up Shops Breathe Life Into High Street
The recession has taken its toll on millions of businesses and families around the world, but it seems there is a silver lining to even this cloud. The hardship witnessed over the last few years has borne a sense of entrepreneurial spirit within the great British public, stimulating a revolution in retail in the form of pop-up shops.
These “now you see them, now you don’t” instant outlets have been a roaring success, breathing new life into tired and half-closed town centres. In fact, they are set to contribute £2.1 billion to the economy this year, according CEBR. Estimates show a growth in this sector of 8.4 percent over the next year – more than twice what typical high street stores are set to achieve.
What is a pop-up shop?
Pop-up shops are instant outlets which are set up on a temporary basis, operating from stalls, empty shops or other spaces. The recession saw a growing number of empty high street shop-fronts and with the help of the British Retail Consortium and Appear Here, people have been encouraged to try their hand at running their own small businesses.
With changing habits meaning more people shopping online, commercial landlords have opted for short-term leases to fill gaps high streets and shopping malls – ideal for pop-up style businesses.
Customers currently spend an average of £110 in these pop-up stores, and that figure is set to rise to £120 per shopper according to projections.
The moral of the story? The recession has been hard for many of us, but by harnessing the power of creativity and willpower good things can come out of even the most trying situations.