The fleeting nature of a pop-up is one of the key features that make them so attractive to shoppers of all kinds. FOMO – the fear of missing out – motivates shoppers to visit a market or festival that won’t be around for more than a few days. Pop-up events, especially swap meets, flea markets, and food truck get-togethers can offer exclusive, locally sourced products to add to their appeal. These shopping venues offer an exciting alternative to the typical big-box, impersonal online and
retail mall shopping experiences.
According to Baras, the pop-up industry comprises about $50 billion in sales every year, based on an analysis PopUp Republic conducted including pop-up sectors, sales numbers provided by the U.S. government, and various related trade associations and third-party organizations.
Baras also notes that the biggest events players in the pop-up market include farmers markets at $8 billion, flea markets at $30 billion, food trucks at $1 billion, yard sales at $1 billion, and pop-up stores, festivals, crafts and classes at close to $10 billion in sales.
With so many market owners and vendors becoming adept at using social media to advertise and market events and pop-ups, the wave of popularity enjoyed by these fleeting markets is sure to continue.
What can vendors expect for pop-ups in 2018?
- Consumer Experience (CX) is the buzzword for this year. Consumers want to touch and feel, and many still want to have the in-person shopping experience. This is where pop-ups and markets excel.
- Towns and municipal groups, as well as churches and fundraising groups will continue to adopt this business model. Faced with budget cuts or the need for donations for a group or organization, 2018 will see the continued growth of local popups geared towards raising funds for a specific cause.
If your favorite market hasn’t yet tried their hand at sponsoring a pop up market, maybe 2018 is YOUR year to get the party started.