Small businesses need to think big and test the marketplace!

A few  months ago I blogged about the rise of the Pop up shops and its ability to provide small businesses with the opportunity to trade on the high street.

The next step for these small businesses is to learn from the big companies and test as many markets as possible. It can be so easy to secure your space in a pop up shop and think well I am here now, I don;t need to do anything else. You would be very wrong for thinking that. You will soon find that if you don’t start thinking big, customers will treat you accordingly and token gesture purchase your products.

No business should ever aspire for sympathy purchase, it is an insult to all your hard work!

I do believe that when Pop up shops are popping up that alongside providing small businesses with a physical presence on the high street that they also look to educate these businesses about transitioning from their bedroom to the shop floor.  It is a totally different environment even though the aims may be the same.

So if you are a small business either currently or considering trading from a pop up shop here are few words of wisdom:

  • Make sure your products are packaged and presented nicely.
  • Refresh your products regularly especially when a new season approaches.
  • Keep an eye out for what is selling, what isn’t selling remove and replace with your most popular items.
  • Try and get your products in the window display, if needs be, be proactive about it and speak to the store manager about which products lines you wish to promote. Correlate this with key calendar and seasonal events, it demonstrates that you are thinking ahead and most importantly commercially.
  • Analyse your customer profile and build a database. Understand your customer needs and supply it to them., attend different events, you just never know who is your next customer.
  • Build relationships and extend your network.
  • Do carry out comparative shop, compare yourself to other products on the market and differentiate yourself. What makes your products unique?
  • Test other markets/ locations! As a small business believe it or not, you have a unique opportunity, so make the most of it. The Pop up phenomenon will not last forever and rent will not always be this cheap.
  • Research where other pop up shops are opening, look into the demography of that area and see how you can supply to that target market. Remember if something isn’t selling in London doesn’t mean there isn’t a market for it in Birmingham. Expand your business,  If it’s good enough for Marks and Spencer’s, Next and all those other high street retailers then it’s good enough for you!
  • Only set up in a pop up shop if you are serious about your business and you want to grow / expand and ultimately succeed. Retail isn’t for the faint hearted.
  • Ask your store manager, where you can access training, it may be a case that they offer training in house or that you may need to register with business support agencies either way it is knowledge that will prove invaluable to your business.success.

If after reading this blog you are interested in testing your merchandise to new markets then click on the image below, which will direct you to a wonderful opportunity!

 

facebooktwittergoogle_plusredditpinterestlinkedin
facebooktwitterrss