Knowledge is gained through 'reading',
And thinking
Wisdom is earned by 'actions',
And self-reflections
Knowledge + Wisdom is Power
Power + Risk taking, Success will shower!
There's no short cut to success. But we'd be happy to be able to help.
Welcome to our Pop-up Market Academy
(probably the only one in the world).
Objectives
To equip pop-up market entrepreneurs, participants and business owners with knowledge, know-how and the power to optimise their business using a system of doing business.
Being schooled in the Pop-up Market Academy doesn't guarantee your business profits - that's what entrepreneurship is about - risk taking.
Being schooled in the Pop-up Market Academy helps you make more informed decisions on what you do, because in the end, the success of businesses depends on the YOU - the entrepreneur - yourselves. No correction - OURSELVES. The founders of TGIF Bazaars are entrepreneurs too! :)
Being schooled in the Pop-up Market Academy doesn't guarantee your business profits - that's what entrepreneurship is about - risk taking.
Being schooled in the Pop-up Market Academy helps you make more informed decisions on what you do, because in the end, the success of businesses depends on the YOU - the entrepreneur - yourselves. No correction - OURSELVES. The founders of TGIF Bazaars are entrepreneurs too! :)
First and foremost
There are many reasons why you would consider becoming (or are already one) a pop-up market business entrepreneur and business owner.
It could be a full time role, or side hustle (part time), or even be just an experiment to monetarist your hobby and test your theories.
Whatever your reasons are, our research and grounds up experience has allowed us to understand that all our participants would fall into one of the personas below:
It could be a full time role, or side hustle (part time), or even be just an experiment to monetarist your hobby and test your theories.
Whatever your reasons are, our research and grounds up experience has allowed us to understand that all our participants would fall into one of the personas below:
What are Markets/Marketplaces?
In today's context Markets/Marketplaces are physical and online spaces where buyers and sellers gather.
The are a few things buyers usually do at market places - the universal term we use is 'Shopping'.
BUT 'SHOPPING' CAN MEAN MANY THINGS FOR THE CONSUMER...
1) Research products before making that purchase transaction, including meeting online sellers and checking out the products before buying;
2) Compare prices before buying;
3) Recreational activity - strolling, just passing by, looking for entertainment;
4) Checking out competing products and offerings;
5) Transact / make purchases.
Collectively called consumers, the shoppers at first are anonymous faces to sellers, but if you get to know them, they could very well be decision makers in their workplaces.
Hence there are opportunities that the shopper may end up becoming your corporate customer.
There are also a few things sellers can do at market places - the term we we usually use is 'selling' but really, we think it should be 'Marketing' - why else would it be called 'marketplaces' and not 'sellers places'?
The are a few things buyers usually do at market places - the universal term we use is 'Shopping'.
BUT 'SHOPPING' CAN MEAN MANY THINGS FOR THE CONSUMER...
1) Research products before making that purchase transaction, including meeting online sellers and checking out the products before buying;
2) Compare prices before buying;
3) Recreational activity - strolling, just passing by, looking for entertainment;
4) Checking out competing products and offerings;
5) Transact / make purchases.
Collectively called consumers, the shoppers at first are anonymous faces to sellers, but if you get to know them, they could very well be decision makers in their workplaces.
Hence there are opportunities that the shopper may end up becoming your corporate customer.
There are also a few things sellers can do at market places - the term we we usually use is 'selling' but really, we think it should be 'Marketing' - why else would it be called 'marketplaces' and not 'sellers places'?
MARKETING CAN MEAN MANY THINGS...
1) Meet existing customers face to face;
2) Meet online shoppers face to face;
3) Create awareness for your business / brand through branding activities;
4) Create or expand your customer database such as email addresses or social media followers;
5) Promote / Test new products;
6) Conduct sampling exercises;
7) Meet shoppers who didn't know about you before;
8) Showcase or exhibit your services / crafts or products;
9) Transact, close sales;
10) Whatever your imagination takes you and within legal limits, of course
1) Meet existing customers face to face;
2) Meet online shoppers face to face;
3) Create awareness for your business / brand through branding activities;
4) Create or expand your customer database such as email addresses or social media followers;
5) Promote / Test new products;
6) Conduct sampling exercises;
7) Meet shoppers who didn't know about you before;
8) Showcase or exhibit your services / crafts or products;
9) Transact, close sales;
10) Whatever your imagination takes you and within legal limits, of course
What are Pop-up Markets?
Pop-up Markets are temporary markets that spring out of spaces. Although the forms of marketplaces may be rather similar - their objectives, nature, content and time-periods can be very different. E.g. Festive Bazaars, weekend; artisan, food, handicraft, flea and even cause-driven markets.
Personas of Pop-up Market Participants
(Based on our experience)
Please click on the imagesfor detailed explanation and description before you answer the questions below)
Mega Trend - Rise of ICT - Online and Offline
In the rapidly developing greater environment of our industry, the rise of ICT has impacted and shaped the way consumers shop today.
Just less than 10 years ago, no one outside of China has heard of Alibaba. Amazon was in a different form then, selling books. Taobao wasn't shipping internationally. There was no Lazada either.
There was no Carousell, no Shopee, no Etsy, no one sold anything on Facebook. There was no Redmart, no Food Panda, nor many of such services that helps deliver your purchases to your doorstep.
Today, it is a different story. Almost anyone can sell anything online using different platforms. Anyone can also sell anything online. Anyone who wants to buy something in retail shops will check the internet for prices before they make their purchase decisions.
But there will be some things that people cannot sell online, and some things that people won't buy online, or even think of buying online.
This has impacted retail malls in Singapore, who are now changing their offerings as we're typing this. They are looking for new, interesting offerings, Pop-up markets is one such channel.
And whether the general public realises this or not, there is a increasing demand for pop-up markets now because pop-up can help make their malls more lively, and offer that content refreshment that will keep their consumers/shoppers interested, and hence go back for repeated visits.
The price of participation (rental, set up costs etc) is a another consideration because in the end, it depends on who needs who more - if we need the malls more than they need us, we'll have to pay them rental fees for their spaces.
If the malls need us more than we need them, chances are, we can negotiate for cheap or free rental, in return for what we can offer them - interesting products, merchants, content, and the followers and fans we can bring to visit their malls.
Do you understand what this means to your business?
Plenty.
Here are some thoughts:
Just less than 10 years ago, no one outside of China has heard of Alibaba. Amazon was in a different form then, selling books. Taobao wasn't shipping internationally. There was no Lazada either.
There was no Carousell, no Shopee, no Etsy, no one sold anything on Facebook. There was no Redmart, no Food Panda, nor many of such services that helps deliver your purchases to your doorstep.
Today, it is a different story. Almost anyone can sell anything online using different platforms. Anyone can also sell anything online. Anyone who wants to buy something in retail shops will check the internet for prices before they make their purchase decisions.
But there will be some things that people cannot sell online, and some things that people won't buy online, or even think of buying online.
This has impacted retail malls in Singapore, who are now changing their offerings as we're typing this. They are looking for new, interesting offerings, Pop-up markets is one such channel.
And whether the general public realises this or not, there is a increasing demand for pop-up markets now because pop-up can help make their malls more lively, and offer that content refreshment that will keep their consumers/shoppers interested, and hence go back for repeated visits.
The price of participation (rental, set up costs etc) is a another consideration because in the end, it depends on who needs who more - if we need the malls more than they need us, we'll have to pay them rental fees for their spaces.
If the malls need us more than we need them, chances are, we can negotiate for cheap or free rental, in return for what we can offer them - interesting products, merchants, content, and the followers and fans we can bring to visit their malls.
Do you understand what this means to your business?
Plenty.
Here are some thoughts:
- If the product you sell can be found online, then why would people want to buy from you? What would make them buy from you?
- If the product you sell can be found at other flea markets, what would make people buy from you instead of them?
- Are you selling what you want to sell? Are you selling what people want or need to buy? Are you selling it at prices, terms and conditions that your potential customers are willing to pay for and accept?
- Instead of buying and selling products as a trader, can you be a maker, customiser or innovator?
- Can you personalise products for your customers?
- Must you also have some form of online presence? How much time and effort do you require to have presence both online and offline?
- Are profits guaranteed?
Even if you don't know any of the answers above, that's ok. That's what the Pop-up Market Academy is for :
To help you discover the answers !
To help you discover the answers !
