22 October 2014
Three tricks for turning pop-up Halloween shops into revenue treats
Katie Sershon |
Halloween comes only once a year, much to the disappointment of costumed, candy-hoarding kids — and much to the relief of their parents. For years, retailers and mall owners would’ve largely sided with the kids: Halloween brings increased sales, but only for one month a year and only for certain kinds of shops.
The retail sector embraces the business version of a sugar high by using temporary leases to lure pop-up Halloween shops that open between September and November. Far from fly-by-night operations, these short-lived stores are a big reason why Halloween spending is expected to hit approximately $11.3 billion this year. And with more than 90 percent of households doing their costume shopping at brick-and-mortar stores, temporary leases present a scary good revenue opportunity for retail real estate owners.
JLL Director of Specialty Leasing, Tracey Hatley, has been watching the temporary-lease trend blossom. She offers three reasons shopping-center owners should embrace pop-up retailers.
“Halloween has continued to grow in importance over the past several years and consumer demand has driven retailers to place greater emphasis on the holiday,” says Jesse Tron, spokesperson for ICSC. “The fact that consumers are willing to spend more on discretionary purchases is a positive sign for the upcoming holiday shopping season.”
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