Huw Thomas, Managing Director of PMC, talks about the pop-up retail sector and its impact on the UK economy.
Pop-up retail is now worth £2.3bn to the UK economy 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). The report, commissioned by EE, found that 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.
Retailers in the Pop-up business need a simple, cost effective method of getting access to traditional EPoS capabilities on a cost effective and flexible basis. Access to a reliable wireless network is another key component, particularly as many Pop-up retailers are adopting mobile retailing solutions in their temporary trading locations.
For online-only retailers opening up in a Pop-up environment means they need to implement new IT solution’s to allow them to trade.
PMC has developed a unique solution, Store Enabler, to allow retailers to take their existing web site and use it to drive a mobile EPoS solution driven by any Android or ioS tablet. Scanning is delivered using a Bluetooth connected scanner or by utilising the built in camera. Integration to multiple mobile PSP’s is already in place to allow secure chip and pin payment and a cloud based Cash Management solution provides access to all of the cash controls you would expect in a traditional high street store. Printing is supported to zone, fixed or mobile printers.
Importantly, Store Enabler future-proofs your investment allowing you flexibility to change mobile hardware, operating system and payment provider without having to re-implement the solution or buy new software.
If you are thinking about opening in a Pop-up environment or would like to implement a mobile EPoS solution then talk to PMC about our Store Enabler solution.
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