As the retail industry suffers, retailers and designers are making calculated risks when deciding to open up a new store, with many opting for the pop-up alternative.
Despite the economic slump in the retail industry, Australian designer Therese Rawsthorne recently launched her first ever pop-up boutique in Surry Hills, Sydney.
In what many retailers are calling a ‘troubling time’, Rawsthorne made a conscious decision for her “Twin Peaks” store to be open via a two-month residency which will see it close its doors on November 17.
Peak retail industry body the Australian Retailers Association (ARA) released retail figures that show a decrease by 6.6% compared to last year’s result in the clothing, footwear and personal accessory category.
This comes following a devastating slump in retail sales following the last four years.
With many retail stores and brands closing down and/or filing for bankruptcy it would seem that opening a store would be the last thing on a designer’s mind.
However pop-up stores are fast becoming a retail phenomenon with many designers opting for a short lease over a flag-ship store as there is less financial risk.
Pop-up stores provide designers and retailers the opportunity to test their product, the location as well as the market, without making a long-term investment.
Executive Director for ARA, Russell Zimmerman said “there is definitely less risk involved when signing a short lease... it allows the retailer to ‘test-the-waters’ so to speak”.
“It all comes down to their finite lifespan. It’s a here now, gone tomorrow attitude that compels consumers to seize the moment before it vanishes for good”.
The ARA website says that “unlike clearance sales, pop-up stores rarely reduce their prices and instead operate on the premise of exclusivity or use their ‘novelty factor’ as a draw card”.
Therese Rawsthorne said of her decision to open despite the financial risk “nothing ventured, nothing gained. I know it sounds clichéd but you really have to make a decision and go for it”.
Rawsthorne said she would love to open a flagship store in the future but for now she is happy with her Twin Peaks two month lease.
Rawsthorne’s decision to open her boutique despite the slump in retail sales was due to an opportunity of an ‘amazing’ space in the suburb of Surry Hills that she simply “couldn’t pass up”.
“I wanted an opportunity to get to know my customers in a more personal space and Surry Hills is the perfect spot for such a venture”.
Other designers and labels to have opened a temporary store include; 7 for all Mankind, T-bar, Ellery, Willow, Kirrily Johnston, Chronicles of Never and many more.
Store opening hours for the Therese Rawsthorne “Twin Peaks” pop-up boutique are between 11am and 6pm Tuesday-Saturday and midday-5pm on Sundays.
Despite the economic slump in the retail industry, Australian designer Therese Rawsthorne recently launched her first ever pop-up boutique in Surry Hills, Sydney.
In what many retailers are calling a ‘troubling time’, Rawsthorne made a conscious decision for her “Twin Peaks” store to be open via a two-month residency which will see it close its doors on November 17.
Peak retail industry body the Australian Retailers Association (ARA) released retail figures that show a decrease by 6.6% compared to last year’s result in the clothing, footwear and personal accessory category.
This comes following a devastating slump in retail sales following the last four years.
With many retail stores and brands closing down and/or filing for bankruptcy it would seem that opening a store would be the last thing on a designer’s mind.
However pop-up stores are fast becoming a retail phenomenon with many designers opting for a short lease over a flag-ship store as there is less financial risk.
Pop-up stores provide designers and retailers the opportunity to test their product, the location as well as the market, without making a long-term investment.
Executive Director for ARA, Russell Zimmerman said “there is definitely less risk involved when signing a short lease... it allows the retailer to ‘test-the-waters’ so to speak”.
“It all comes down to their finite lifespan. It’s a here now, gone tomorrow attitude that compels consumers to seize the moment before it vanishes for good”.
The ARA website says that “unlike clearance sales, pop-up stores rarely reduce their prices and instead operate on the premise of exclusivity or use their ‘novelty factor’ as a draw card”.
Therese Rawsthorne said of her decision to open despite the financial risk “nothing ventured, nothing gained. I know it sounds clichéd but you really have to make a decision and go for it”.
Rawsthorne said she would love to open a flagship store in the future but for now she is happy with her Twin Peaks two month lease.
Rawsthorne’s decision to open her boutique despite the slump in retail sales was due to an opportunity of an ‘amazing’ space in the suburb of Surry Hills that she simply “couldn’t pass up”.
“I wanted an opportunity to get to know my customers in a more personal space and Surry Hills is the perfect spot for such a venture”.
Other designers and labels to have opened a temporary store include; 7 for all Mankind, T-bar, Ellery, Willow, Kirrily Johnston, Chronicles of Never and many more.
Store opening hours for the Therese Rawsthorne “Twin Peaks” pop-up boutique are between 11am and 6pm Tuesday-Saturday and midday-5pm on Sundays.
Images courtesy of Ashley Mar.
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