Most people are used to heading to their town centre if they want to buy some new clothes or food, but high streets and shopping malls are not the only place shops are cropping up.
In fact, due to steep rent costs and a surge in online shopping, more retailers are considering other options, including steel portal frame buildings.
Decline of the high street
The high street has been declining in popularity for the last few years, thanks to more people purchasing on their smart devices, the impact of the pandemic and lockdowns, and the cost-of-living crisis.
This is why the British Retail Consortium (BRC) reported that in-store non-food sales in the quarter leading to March 2024 dropped by 1.1 per cent compared with the same period in 2023.
However, UK total retail sales grew by 3.5 per cent over the 12 months, demonstrating that consumers are still keen to spend their money.
Linda Ellett, UK head of consumer markets for Leisure & Retail at KPMG, said: “It remains a challenging environment, but as we head into the warmer months, retailers will be hoping that stronger consumer confidence will turn into stronger retail sales … following an incredibly difficult few years.”
Popularity of pop-up stores among retailers
While fewer shoppers are heading to traditional retail stores on the high street, lots are becoming interested in pop-up shops.
In fact, 365 Retail recently revealed that brands that have launched pop-up stores have seen a 46 per cent rise in their sales. At the same time, they have also achieved a 51 per cent growth in market visibility, and their brand awareness has shot up by 66 per cent.
It is also a good way for e-retailers to sell face-to-face for the first time, as it provides a flexible, low-risk option that still allows them to sell directly to customers.
Having a pop-up store instead of a permanent one also means retailers can avoid paying steep rental fees, which can amount to almost £50 per square foot per year in London. While the cost is likely to be cheaper in other locations, it still adds up to be a significant expense that many up-and-coming brands cannot afford to risk.
Another reason why retailers are favouring pop-up stores is because it adds a different dimension to their business. It can make their brand seem more personable, it can promote new lines, enhance customer experience, and target new customers in a different area.
It can also drive online sales, as more people will become aware of the brand and have a face to associate with the name.
Why are steel buildings a good choice for a pop up store?
Pop-up stores can take many different forms, from converted shipping containers to refurbished camper vans.
Another great option is a commercial steel building, as this provides lots of benefits for temporary spaces.
For a start, they are more economical than renting a space on the high street or in a shopping centre.
They are also environmentally friendly, as they can be repurposed after they have been used.
Thanks to its light weight, durability and strength, it could last many years and can keep transforming, serving a variety of functions.
Landlease project director Chris Carragher said the trend these days is all about refurbishing buildings rather than destroying them, as this is the more sustainable option.
“Refurbishing a project is a more environmentally-friendly option, as well as being cost-effective,” he told Construction Management.
Consequently, brands can achieve a higher rating for their sustainability efforts, which also makes them more attractive among conscientious customers.