Now, if you live in London and surrounding areas, you've had the privilege of being in close proximity to one of the many pop-ups which took place across London over the summer.
These events are great, and provide some much needed life and vibrancy to the UK retail space. For vendors, Pop-ups are a fantastic chance to make some much needed foreign currency, but it’s important to stay sharp and avoid being taken advantage of. Our guide will help you navigate the London scene, handle contracts smartly, and protect your business while you shine in the spotlight. Let’s make sure you make the most of your opportunity without the stress!
- Get a contract. Even if it is a few lines. Get a contract. Terms of service, what is expected from both parties, insurance, marketing, profit sharing, entry fees, cancellation policies etc. and get it BEFORE you pay for anything. Forget what you hear about developing countries and fraud, over £1 billion is lost every year in the UK due to fraud and between £36-90 billion is laundered through the UK shores. So, get a contract AND read it well.
- Always negotiate. With the exchange rate fluctuations, it is always a good idea to negotiate. You know what they say about strength in numbers so it might be worth finding another vendor who is interested to see if you can get a discounted price for two stall. They might not agree but, if you don't ask, you don't get!
- Where possible, find a list of previous vendors who have worked that circuit. Look for feedback on previous events online (reddit is great), footfall, costs, sales and hosts (both personality and for your own brand reputation)
- Get a list of vendors currently subscribed to the Pop-up you will be participating in to assess how diversified and complementary the vendors will be. Last thing you want is 30 vendors selling very similar goods plonked together, or worse still, your boubous smelling of stock fish because there wasn't an organised floorplan!
- Beware of international host that promise you 'exposure' with a very hefty bill attached to it.
Lets be honest, similar to some people in the corporate world, half of these people don't have a clue what they're doing. It is part audacity and part planning and believing everything will somehow work out alright (trust me, I know!). So, scrutinise what these events and fairs are REALLY offering. - Do an assessment on whether the event/host actually aligns with your brand's 'international price point'. We know the exchange rate fluctuations have made doing any business that marginally relies on imports a mess. But beware of these international fairs and pop-ups overpromising on the quality and calibre of clientele attending
- Not all postcodes/boroughs/arrondisments are made equal. By that I mean, just because an event is in 'central London' or New York or Milan doesn't mean it is IN London or Milan proper. New York for example is not just a city but a vast state. What you should be looking for is an area with high footfall, AND if you are selling products or services on the more premium side,make sure the surrounding areas and stores (there definitely should be other stores) tie nicely into your brand's story. No point selling a £175 boubou on Wembley High road or even Lancaster Gate because, 'central London'. Not all central locations are made equal.
- Beware of events that put the onus on you (the vendor) to market yourselves participating at the event. This is definitely a two-way street. Naturally, you should promote every event you should be at but any event that asserts your role as central when it is THEIR event, means there will be . Which leads me to the next point
- Check their social media following and activity. Is is consistent? Is there engagement? While we know followers can be bought, it is also good to check the followership of their social media pages. If you have more followers than they do, chances are, you might be helping them more than you think!
- Be clear about event management accountability. This one is HUGE. You'll find that after a not-so-successful trade fair or event (sales/revenue-wise), there'll be lots of finger pointing and what wasn't done or could have been done better. As the host, the onus is on the event management company to be explicit in their responsibilities.
And this, ladies and gents, ends our ten things to be mindful of
While some might say it's all 'business', if these fairs and international Pop-ups truly want to support the businesses as they claim, the 'business should be mutually beneficial.
At Mais Af, we want African brands and creatives to be able to showcase their skills and expertise across the world. Should you have an international trade fairs or pop-ups soon, we would love to help you with any questions you may have.