Pop-ups pop for shops and so easily
short-term lease for quick and maximum exposure to shoppers.
Department store Myer embraced the new style of shopping last December, with
pop-up stores at Southern Cross Station (above) and Bondi Junction in Sydney.
The outlets sold an array of small gifts, from perfumes to handbags, with gift wrapping services to catch the late Christmas shopper. More are planned this year.
Lend Lease has had an 8 per cent growth in turnover since the beginning of the year and plans to increase offerings in all its shopping centres.
The model, previously known as "casual mall leasing", was traditionally identified as the new car being advertised in the middle of a shopping centre, or an untenanted shop filled with shoes and a spruiker on a public address speaker.
But as malls evolve to keep fresh, pop-up retailers are securing prime space in front of major tenants, busy thoroughfares and shopping centre entrances.
Lend Lease's national new business manager for pop-up retail, Sally Harding, says every spare space in a shopping centre is considered a prime location.
"Every area of a mall is available, such as a wall, which can be interactive, parts of the car park, the centre circle and along the walkways," Ms Harding said.
Frequently Asked Questions about this Article…
Pop-up retailing is a short-term leasing model where retailers take temporary space in shopping centres to get quick and maximum exposure to shoppers. The article explains tenants use brief leases to showcase products or services for limited periods, often timed to peak shopping moments.
Landlords and tenants embrace pop-up stores because they keep malls feeling fresh, capture shopper attention, and make use of spare space for incremental revenue. The article notes tenants like short-term leases for exposure and malls are evolving to accommodate these flexible retail formats.
Department store Myer ran pop-up stores last December at Southern Cross Station and Bondi Junction in Sydney. The outlets sold small gifts — from perfumes to handbags — and offered gift wrapping services to capture late Christmas shoppers, with more pop-ups planned this year.
The article cites Lend Lease reporting an 8 per cent growth in turnover since the start of the year and says the company plans to increase pop-up offerings across its shopping centres, indicating pop-ups can contribute to higher turnover for landlords.
Pop-up retailing was traditionally known as "casual mall leasing," once typified by temporary displays like a new car in the middle of a mall or an untenanted shop filled with shoes and a loudspruiker. It has evolved into curated short-term stores occupying prime mall locations to attract shoppers.
According to the article, pop-up retailers now secure prime space such as in front of major tenants, busy thoroughfares and shopping-centre entrances. Lend Lease's national new business manager, Sally Harding, adds that every spare area — walls, parts of the car park, the centre circle and walkways — can be used.
The article highlights a wide variety of convertible spaces: interactive walls, sections of the car park, the centre circle and along walkways. Sally Harding says every area of a mall is considered a potential prime location for pop-up retail.
Everyday investors should note that the pop-up trend is leading mall owners like Lend Lease to increase short-term retail offerings and that this approach has been linked to turnover growth in the article. Watching how shopping-centre landlords monetise spare space and refresh tenant mix can indicate how retail property income streams are evolving.
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