How do you measure the success of a pop-up store?
If you've come this far, you must know everything there is to know about the creation of the pop-up store. Or almost. There's one essential point missing from a successful pop-up store experience. Measuring the performance of your pop-up shop.
If you're asked how to measure the performance of a sales outlet, you'll probably say that you measure changes in sales, the effort rate and return on investment. Obviously, it's essential to think about the commercial performance of your pop-up. But wouldn't it be a good idea to adapt the measurement indicators according to the objectives of your ephemeral operation?
If you're looking to broaden your horizons and really understand the impact of your pop-up on your retail strategy, you've come to the right place. Follow the guide.
The pop-up store is a media
As we have discovered in this pop-up store guide, the objectives of a pop-up store are varied and diverge from the simple search for additional sales. Brands are looking to create a memorable experience to enhance their brand awareness and memorability. They seek to meet customers to recruit new customers. They seek to retain existing customers by offering them additional quality services.
So the pop-up store is more than just a distribution channel, it's a brand showcase, a space where you can tell your story, where you are in control of your brand's storytelling. The pop-up store is therefore a medium, in the same way as a billboard in the street, your social networks or a television campaign. If you're interested in this idea, go here.
Indicators for measuring pop-up store performance
If the pop-up is not just a distribution channel, but also an acquisition and loyalty channel, if the pop-up is a medium, then the battery of indicators used to measure performance also needs to be modified.
The performance of an Instagram ad is not measured solely by the number of sales generated. We also take into account the number of impressions, the number of clicks and the number of visits to the website. The same applies to the point of sale. Above all, the image and experience you offer a customer at the point of sale will always be more memorable and impactful than a printout on a screen between two publications. So you need to adapt the indicators you use to match your efforts and investment.
At Nestore, while we propose to retain commercial performance as a key indicator, we have also identified three additional categories of indicators to assess in order to measure performance: building awareness and memorability of your pop-up, the quality and intensity of the experience and the ability to retain your customers.
Take the ability of your pop-up to build brand awareness and memorability. A first relevant indicator will be the impact on your social networks. Has the number of subscribers increased since the launch of your pop-up? A second indicator would be Google searches linked to your brand name. Have you seen any fluctuations in the period following your pop-up? Finally, has the number of subscribers to your newsletter increased, provided you have built in a sufficient incentive during the purchase process? How many additional contacts have you recruited?
For each category, it's important to think about all the indicators that meet your objectives. And if you've got this far, don't hesitate to drop us a line. Nestore will be happy to answer your questions or discuss your issues with you.