Wiink; a Platform for launching and managing pop-up stores
A solution for two-way interaction of brand and space, for optimization and maximum profitability based on data
PROJECT NAME : wiink
tEAM : Business Creation and Experience
DATE : 2023
CATEGORY : Growth
STATUS : IN PROgrESS
PROJECT NAME
Team
DATE
CATEGORY
STATUS
Wiink
Business Creation and Experience
2023
Growth
in progress
Services
Business creation | Creative strategy | Business modeling | Scenario planning | Analysis and studies | Marketing
Entering the market with an innovative idea can be a big step for the growth and development of companies. In today’s competitive world, idea generation, evaluation and testing of ideas with a sensitive look at market needs can enable and make it possible to identify hidden market opportunities.
One of our activities in the dynamic world of markets is generating ideas and using up-to-date methods and tools for evaluating ideas, entering the market and moving towards development.
Wiink is about sharing our experience in launching a data-based pop-up store management platform in Iran.
Market Status
Considering Iran’s economic pie shrinking, the unfavorable status of the Ease of doing business Index in Iran, numerous operational and non-operational risks, unbridled inflation and sustainability crisis for businesses of all kinds, have undergone many changes in today’s business environment.
On the one hand, looking at the high penetration rate of the Internet and technology among Iranians and market changes, the opportunity to create a small business for a wider range of people is more than ever before.
Despite the promotion and opportunity to launch small businesses based on online platforms and social networks, many customers still prefer in-person shopping to online shopping.
On the one hand, the size of the online shopping market, and the desire of large online shopping platforms such as Amazon and Digikala and etc., to set up a physical store also show the importance of this issue.
And dozens of other questions that show multiple capacities to provide solutions to fledgling businesses. One of these solutions is to set up pop-up stores using the minimum space, the most optimal time and the most economical model.
The space of digital and physical businesses, customers, products and the market of Iran
Why pop-up stores?
The increase in the cost of commercial spaces, the unstable economic situation and the continuous competition in all types of business have made the independent use of commercial spaces – whether owned or leased – unjustifiable for brands;
On the other hand, with the high penetration of the Internet among people and the increase in the number of online businesses, this gap has been partially filled digitally.
However, the need for businesses to develop the level of interaction with customers, networking, maximizing income, the high rate of customers’ preference for physical purchases, the need of commercial spaces for dynamism, the constant increase and diversification of brands and products, points out the need for temporary stores.
Therefore, pop-ups are a way to continuously develop brands and commercial spaces; which can pave the way for the development and increase of profit for the parties with much less challenges.
Wiink services; For the space provider
Wiink services; for business
Wiink services; For the space provider
.Commercialization and income generation from common or underperforming spaces
.Diversifying and increasing the group of customers interacting with the brand
.Strengthening the opportunity of advertising and marketing in synergy with the brand
.Optimal management of spaces according to position and time
.Review and evaluation of brands for long-term rental of spaces
.Enhancing the added value of other commercial spaces and increasing dynamism
.Increasing the attractiveness of spaces by diversifying products and brands
.Facilitating legal and regulatory affairs in brands
Wiink services; for business
.Increasing the level of customer interaction and creating physical contact
.Reducing and managing costs due to full space rental
.The speed of setting up and dismantling the store space
.Presence in popular, diverse and close to the target community
.Brand and product development and direct feedback
.Measuring and testing new products for development purposes
.Targeted marketing and synergy with space provider customers
.Communication with space providers and development of future collaborations
By analyzing the characteristics of brands and spaces based on data and market indicators, Wiink can suggest the most suitable spaces for holding a pop-up shop to the brands; And also present the most potential brands to space providers.
Establishing communication based on data analysis leads to the most optimal brand communication and the most suitable space and presents new opportunities for business development to both parties.
The results of Wiink's idea
In evaluating the idea of launching a pop-ups management platform, marketing priority was assigned to the large shopping centers of the first district of Tehran. During various meetings with these centers, it became clear that the number and structure of the centers that can deal with this model are limited. Because most of these centers offer their common spaces to businesses with the traditional medium-term rental model (at least six months) and basically do not have a structure for pop-ups and temporary stores even for a month.
On the other hand, mid-scale commercial – entertainment centers such as cafes do not have full spatial-activity preparation for this kind of event, and their promotion level for businesses is not comparable to shopping centers.
It seems that the creation of the pop-up management platform before can become a platform limited to holding and setting up a temporary store with a relative adjustment and align with the real needs and expectations of the market; and in the development steps and continuous improvement of the idea to become a pop-up database management platform; Because the need for this type of in-person stores from the suppliers of products and services and their customers is quite noticeable.
In other words, the limitation of the market size in the management model can provide suitable opportunities to accept and increase the market size by turning it into a startup model. and encourage space providers to make relative changes and implement this model.
Sources of market studies: Digikala 2023 report – Iran’s digital market report, Techrasa
MINE team for this project: Saghar Yazdani, Hannan Abagheri, Mohamad Ebrahimi
MINE team for this project: Saghar Yazdani, Hannan Abagheri, Mohamad Ebrahimi