A new pop-up shop run by Bellevue residents is proving a growing business model: that small temporary stores can have a big impact.
The Cashmere Sale, which opened its first pop-up store in Washington state on Nov. 2 for limited one-month run, had garnered higher than expected sales. In their first seven days, they surpassed their sales projections by 50 percent, according to Marianne Heywood, one of three local women who brought the shop to Bellevue.
Heywood, Kelly Silver and Charu Bogdan originally met on the playground of Cherry Crest Elementary, and between them have nine kids. They originally stocked the store with 1,200 pieces of cashmere, ranging in price from $48 to $228, and had not planned to restock. But, due to the success thus far, their supplier sent additional items after their first few days of sales.
“In four hours, we did four times the sales we were expecting. It’s been like a rocket, in terms of interest,” said Heywood. “Pop-up stores are the leading edge of what’s hot in retail – which is why Kemper Development was willing to give us a one month lease.”
The pop-up industry has grown to approximately $50 billion in US sales, according to Jeremy Baras, CEO of PopUp Republic, a national social media marketing resource. The emerging retail business model leverages social media to create buzz and give invited customers first-come access to the sale.
According to Kevin Schreck of Kemper Development, the flash retail concept can be a win for landlords as well as retailers and customers. “Pop-ups are ‘in’ right now. They give retailers, restaurant owners and landlords an opportunity to try a particular location and see if the product or service resonates with customers — without the expense of a permanent build-out and long-term commitment. We embrace the idea of The Cashmere Sale and try to implement the pop-up concept at the Bellevue Collection where we can.”
The Bellevue Collection has several pop-up shop locations already, including a year-round site in Nordstrom. Kemper Development did not respond to further questions about their future pop-up store plans.
