Pop-up retail now worth £2.3bn to UK economy new EE and Cebr report reveals

04.09.15

Pop-up retail is now worth £2.3bn to the UK economy according to Britain’s Pop-Up Retail Economy, the second annual report into the pop-up sector from Centre for Economics and Business Research (Cebr). The report, commissioned by EE found that pop-ups now account for 0.76% of total UK retail turnover, up from 0.6 % the year before, an increase of more than £200m in sales.

The Cebr report found that the sector is growing much faster than predicted, with 12.3% more revenue this year versus 8.4% last year, caused by a rise in the number of customers and an increased average spend. 44% of respondents have visited a pop-up in the past year, and they’re spending £8 per month more than they previously were at an annual total of £124 per person.

Britain is now host to more than an estimated 10,000 pop-ups, according to the report, and the sector employs more than 26,000 people. The lines between pop-ups and traditional retail are increasingly blurred, as well-established retailers and online-only brands are using pop-ups to test and expand into new locations and product lines. Eight per cent of retailers report having launched a pop-up sometime in the past year, while 10% plan to open one in the next five years.

Read the full article published by Retail Times

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