This page contains a Flash digital edition of a book.
RETAIL/LEGAL


Popping up on a high street near you


T


he mere mention of pop-up shops used to conjure up images of temporary fireworks shops in the less desirable end of towns. However, they are becoming established as a positive retail opportunity for both landlords and retailers.


Retailers are always looking for new ways to push up sales, particularly in


the lead up to Christmas, or during the school holidays. Retailers are finding that the temporary feel to pop-up shops can help to create a sense of urgency to buy with the creation of a ‘Will this shop be here next week, I’d better buy now’ idea. The pop-up shop also allows on-line retailers a temporary brick presence with low overheads to see how their goods sell in a live situation, such as has been seen with the Marmite shops. This is particularly important where customers want to pick up and touch the products before buying. Pop-ups are also increasingly being used by existing retailers to try out


different locations with minimum financial exposure. A number of national retailers are trialling sites before committing to a full lease and permanent shop-fit. From a landlord’s point of view a lively pop-up can promote a scheme to potential permanent tenants, as well as filling ‘toothy’ gaps in a shopping centre or parade of shops, driving up all important footfall. Whilst the temporary tenants rarely pay anything like


market rent, they do cover business rates and services as well as often leaving the unit it in a better condition than they found it. Nilesh Joshi, Asset Manager at Deutsche PWM Global Real


How to get the best out of pop-up shops, by Geoffrey Harrington, Solicitor, Thomas Eggar LLP.


Estate comments, “Pop-up shops are an interesting concept in that they allow retailers to try out new locations at minimal cost, but from the landlord perspective it gives them exposure to a different retailer which will no doubt add to the tenant mix.” From a retailer’s perspective there has, historically, been an inherent snobbery associated with pop-up shops but the sector is now embracing the possibilities that these temporary units offer and are often proactively building a pop-up strategy. While, over the course of the last troubled few years many retailers have found themselves wearing property obligations around their necks like a millstone, many of those same retailers have now recognised that an innovative approach to property and its associated overheads is needed to alleviate some of their balance sheet woes.


24 • FOOTWEAR TODAY • APRIL 2011 Pop-up shops have provided a welcome opportunity for some to become


more nimble in the markets in which they operate and for others an opportunity to dip their toe into markets without committing to prohibitive costs. As innovations go, pop-up shops are not a new invention but what we are


seeing is an established idea given a very modern twist that works in these ‘interesting times’.


Contact: Thomas Eggar LLP Tel: 0870 160 1300


Web: www.thomaseggar.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40