Now a days, both small and large brands are striving to set-up canopy stores and are establishing a new trend. What are canopy stores and how do they help?
What is a canopy store?
A “canopy shop/stall” is a temporary retail campaign started with objective to engage customers offline & educating the prospective customers. Canopy retail is the provisional use of market space to create a long, lasting imprint with prospective customers. Such types of shop allow you to transfer your brand’s promise to your customers using a physical environment while creating an shopping experience.
What are the benefits?
Each brand will have different goals and outcomes that they’ll expect to accomplish through doing a canopy activity, or wish to experience different benefits from selling through them.
Here are 6 key benefits that will motivate you to consider doing one.
- Try Out a New Revenue Stream
Canopy shops provide a relatively low-cost way to explore adding an additional revenue stream. Not only is it a fraction of what you'd pay for an actual physical retail location but it will also help in developing more customers in areas where you cannot open a permanent retail presence.
- Increase Offline Engagement
Customers prefer being able to physically touch a product before they buy which makes the shopping experience very tempting for them. Canopy activity does the same thing. It is very helpful for the new start-ups.
- Create Urgency
The attractiveness of a canopy shop is that it's a time bound activity for consumers to engage with your products and influence a purchase. The idea that you're not going to be around for long is a plus point in getting customers to buy. Rarity drives action through customers wanting exclusive, limited edition, or other products they can't get otherwise, and a canopy shop puts you in a perfect position to take advantage.
- New Customer Awareness
While trying to sell a new product that hasn’t crossed over into the mass consumer subconscious, a canopy shop can help you understand how your actual product will be perceived in market along with the real-time feedback. Even if you’re just looking to drive pre-orders before going full throttle on manufacturing, giving your potential customers a live demo or walking them through how your product works is a great way to get through to those early adopters.
- Go To Customers Approach
This is especially a strong reason to execute a canopy activity when you've perhaps had some experience selling online and have a good idea of your customer profile that allows you to identify the areas or locations that they're most likely to frequent. The benefit you’d get out of this is that you can select the specific products as per the demographics & choose the geography which you want to get through. Side streets, malls, kiosk or may be big organizations could be a potential points to hit while initiating the activity.
- Generate Brand Awareness
The competition in the online platforms is becoming as tough as offline retailing. Due to which having a two-way approach is where the entire retail industry is heading, through an omni-channel presence. Engaging potential customers offline and enlightening them with the quality of products you provide, you can then point them to your online channel and social accounts, which help you to create a long lasting relationship with customers.
At Channelplay we can help you in executing such model across geography in India. Please connect us through contact us page, once you plan for the same.