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| | | | 13/08/2015 | Retail Gazette, Veebs Sabharwal - Pop-up retail now worth £2.3bn to UK economy | | | | | Pop-up retail worth £2.3bn to UK economy | | | | | Retail Gazette reports that according to Britain’s Pop-Up Retail Economy, the second annual report into the pop-up sector from Centre for Economics and Business Research (Cebr), pop-ups now account for 0.76% of total UK retail turnover, more than £200m in sales up on last year.
The research reveals that the pop-up retail sector is growing at 12.3% with a turnover of £2.3bn, employing over 26,000 people. This is largely due to a rise in the number of customers and an increased average spend.
Britain is now host to more than an estimated 10,000 pop-ups, as the lines between pop-ups and traditional retail becomes more and more blurred. Well established retailers and online-only brands are using pop-ups to test and expand into new locations and product lines and in the past 12 months alone, 8% of retailers report having launched a pop-up while 10% plan to open one in the next five years.
Despite this growth, technology continues to hold the sector back, as over 40% of small retailers are still unable to take card payments and 25% say they have lost sales because they don’t have sufficient stock management systems in place
To help retailers overcome these challenges and to support the rapid growth the pop-up sector is experiencing, EE is launching EE Connected Retail, a new range of 4G products to help retailers run a smarter shop. From pop-ups to established retailers, Connected Retail provides businesses with a superfast 4G tablet, a contactless iZettle payments device and POS software Shopwave. |
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