Joining Events and Selling Your Goods at Pop-Ups: A Brief Guide

     Now that bazaars, trade fairs, and other events have opened up to the public again, it’s the best time to join them and create some fresh buzz about your brand and products through a pop-up store. You can take advantage of these temporary retail spaces to engage with new customers and discover new revenue opportunities in yet-untapped markets.

     Industry-specific events like conferences and conventions will also allow you to mingle with movers and shakers within your sector. On top of being able to showcase your merchandise to direct consumers, you just might be able to broker new business relationships with distributors and wholesale buyers. What good will come out of joining a pop-up and setting up a booth for your small- or medium-sized enterprise (SME) or startup? To answer those questions, here’s a guide on what pop-ups entail, as well as how portable payment devices like the Maya Terminal Lite can set you up for success.

Joining Events and Selling Your Goods at Pop-Ups: A Brief Guide
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Pop-Up Shops: What They Are, and Why You Should Open One

     True to its name, a pop-up shop is a temporary retail space that "pops up" for a short duration. This can range from just a few days to several weeks at a time. Pop-up booths can be set up in a variety of locations, from vacant spaces at malls to bustling event venues like concerts or fairs. Businesses take advantage of pop-ups to connect with their target audience in places outside their immediate business premises.

     For instance, pet supply companies may collaborate with pet shelters and other organizations in the pet sector to organize a pet adoption event. In this case, a pop-up shop provides the ideal opportunity for the company to offer new fur parents pet items that they’ll need throughout their pet parenthood journey. There are several good reasons to set up a temporary shop at a strategic location, like the following:

• An excellent opportunity to test new markets and products without committing to a permanent location
• Increased brand awareness and hype about the business’s activities
• Direct interaction with customers, which will in turn cultivate a sense of community and loyalty for the brand
• A chance to capitalize on seasonal trends and events by tailoring the shop to the occasion

What Should You Consider When Opening Your Own Pop-Up Shop?

     Though the advantages of opening a pop-up store may seem immediate, you’ll want to be extra purposeful about running it in the short time you’ll be on location. The most effective pop-up is one that brings an actual difference to the business’s bottom line; otherwise, it may feel like you wasted time and resources bringing your business outside your actual store. To ensure that your pop-up fulfills its objective of resonating with a new audience, here are some considerations you should make:

1. Pick the Right Location

     Your location is key to the success of your pop-up shop. Choose a spot that aligns with your target audience's preferences and habits. Do you sell clothes and accessories in your retail store? If so, it would be a good idea to set up a booth in a shopping district, where you can expect customers to be actively looking for such items.

2. Get All the Permits Required for Opening Your Pop-Up Store

     Next, ensure that you have all the necessary permits and licenses to operate legally. This might include securing temporary event permits and health permits for your food business. In addition, your business must be duly registered so that you can issue official receipts to your pop-up customers and fulfill your tax requirements.

3. Curate the Products You’ll Bring with You

     Since you’ll have limited space to display your products, you’ll have to carefully select the items that you’ll showcase in your pop-up store. Be sure to highlight your bestsellers, as well as unique or exclusive items to entice your pop-up customers. Also consider your brand’s identity and other important factors like an event’s theme or predominant market. Align your selection accordingly.

4. Calculate Your Overhead Costs

     Don’t set up shop without creating a detailed budget that covers rent, staffing, inventory, marketing, and other relevant expenses. Moreover, keep a close eye on your pop-up’s day-to-day financials to ensure that you’re meeting your profit goals.

5. Provide Your Pop-Up Customers with Contactless Payment Options

     You’ll also want to set up your pop-up store to accommodate cashless transactions, which are becoming widely popular among customers based in countries like the Philippines. Consider partnering with a fintech or financial technology company like Maya Business, which specializes in solutions for SMEs and startups.

     For contactless payments at your pop-up booth, you can use a portable payment device like the Maya Terminal Lite—Maya Business’s solution for applications like pop-ups and cashless-on-delivery meetups. Aside from accepting all major credit and debit cards, this all-in-one terminal can also accommodate digital payments from e-wallets and QR-codes.

     What’s more, the Maya POS terminal easily integrates with your existing point-of-sale system, which means that you don’t have to encode the transaction twice. With one payment terminal device, you can accommodate multiple customers’ payment preferences, thus creating a positive customer experience that will reflect well on your business even after your pop-up is done.

6. Market Your Pop-Up Store Online and Offline

     Don’t forget to promote your pop-up shop aggressively, both online and offline. To generate online buzz about your pop-up, take to social media platforms and utilize strategies like email marketing.

     It’s also possible to reach out and form local partnerships with other businesses to amplify your marketing. If you’re running your pop-up during an event, do in-store promotions, giveaways, and social media updates to keep the momentum going.

7. Gather Customer Feedback for Every Pop-Up You Run

     Aside from profits, among the most valuable results you should gain from your pop-up shop are new customer data and feedback about your performance. From the data you’ve gathered, you can steer your business in the right direction for both your regular operations and for succeeding pop-ups. Your customer data from your pop-up can reveal your ideal buyer persona, for example, which you can use for future marketing strategies.

     Will setting up a pop-up shop be worth it? Will the Maya terminal price and other overhead expenses you make be earned back with a profit? The points above should help you make the best of the experience and gain valuable insight on how to tap new customers outside your store’s home base.