London pop-up shops boom under short-term lease platform
It’s not all doom and gloom on the British High Street.
Despite difficult trading conditions and a raft of store closures around the country, one specialist retail platform is seeing impressive growth.
In new figures, Appear Here, a platform for short-term retail lets, says it opened 4,500 pop-up shops in London last year.
The pop-ups have an average lease length of around seven weeks, and Appear Here had over 300 such spaces open in the capital in December alone.
The growth in pop-ups has been one of few success stories in an otherwise dismal British retail climate. Recent figures from PWC found that the UK’s busiest High Streets saw a net loss of nearly 2,500 shops, banks, and other businesses during 2018 – a 40 per cent increase in closures on 2017.
Pop-ups are a popular tactic for start-up retailers wishing to gain a foothold in bricks and mortar without taking on the risk of a long lease.
But they are also becoming an increasingly popular tool for larger brands looking for efficient and exciting new marketing techniques, especially in particularly busy urban areas.
Appear Here, founded in 2012, offers short-term pop-up spaces in London, Paris, and New York.