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The £2.3billion pop-up shop economy

 

This UK report shows that pop up shops contribute £2.3 billion to the retail economy.

A lecturer at Nottingham Trent University has researched the United Kingdom’s pop up scene – and found a report which estimates a whopping £2.3 billion contribution to the UK economy (and it’s a significant employer too).

Dr Charlotte Shi, lecturer in fashion marketing and branding at the University’s School of Art & Design was presenting her findings at the Academy of Marketing Conference 2017 last week (“Managing pop-up retailing as a means of facilitating organizational growth : evidence from emerging retail brands in the UK”)

Ahead of the conference Dr Shi’s comments were published in the West Bridgford Wire – quoted as saying that “pop-ups are at the forefront of today’s retail innovation and are being used by emerging and established brands alike to create new and innovative shopping experiences. It’s suggested that many successful pop-up ventures transition into established retailers, and that a growth for the pop-up retail sector has been a catalyst for the regeneration of urban retail areas.”*

“After starting in the UK in food and fashion industry, we expect pop-up shops will start to spread to other sectors. It’s a clear area for growth and more businesses are recognising the potential of pop-ups” she said.

The report also says “the most recent data available shows that there were more than 10,500 pop-up shops in the UK, employing more than 26,000 people”*

But that “recent data” isn’t as startling as you might expect… 3 years ago another “Pop-Up UK” report quoted £2.1 billion, 9,400 stores and 23,400 staff – and an 8.4% annual growth rate (see our July 2014 blog post popUPshops Australia.com – a retail revolution pops up). If the data was accurate back in 2014, the growth to 2017 has been a little disappointing… an average of less than 4% per annum.

Or is it a coincidence that 2.1billion, 9,400 and 23,400 multiply by 8.4% to around the values just published ? (2.28billion, 10,190 and 25,366…) Hmmm.

 

* source : West Bridgford Wire.com – £2.3bn pop-up shop economy

 

Nottingham research on pop-up shop economy

 

image : Nottingham research on pop-up shop economy – West Bridgford Wire

 

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