Small Business Saturday is always a busy time of the year for small and growing businesses. However, this year I focused on markets and the opportunities they present for small and growing businesses today.
Over the past few year, popups and boutique markets are part of the lexicon we use for the opportunities ‘market’ type events provide small and growing businesses today!
But the question is; how beneficial are ‘markets’ in today’s economy?
This year I visited Greenwich WinterTime Festival – a month-long outdoor event at Greenwich Royal Old Naval College Within the festival there are pods for small and growing businesses to sell and promote their business.
The business owners opt to trade over the entire event or are provided with flexible options over the course of the month.
As this is a new festival, with no track record, the emphasis has been focused on bringing quality and exclusive businesses on board with a strong business identity online. Whether they have high street presence or utilse online portals like ETSY, the aim is to bring the online experience to real life, as well as to provide fans and soon to fan the opportunity to sample, touch and feel these bespoke products.
After the first few days of trading, many of the businesses felt that they made back their money they spent on their pods – which is great. However, one observation is that many of these businesses see markets and pop-ups as supplementary revenue-generating opportunities and not a main source of income.
The businesses that go down this route also see this as part of their marketing and promotion.
The correct markets, pop-ups, and festivals allow many small businesses to test and receive customer feedback.