The 276: pop-up world {Volume 2 Edition 5}

We’re honoring Black History Month by highlighting Black consumer #funfacts.

• In 2020, US Black buying power totaled $1.6 trillion, or 9% of the nation’s total buying power, per the University of Georgia’s Selig Center for Economic Growth.
• US Black households accounted for just under 10% of the total spending on goods and services in 2019, despite being 13.4% of the population, per McKinsey.
• Analysis suggests that Black consumers are willing to shift around 30% of their current spending ($260 billion) to companies that better address their needs, and they will pay up to 1.2 times more for those products, an estimated $25 billion to $40 billion in net new spending. (Source: McKinsey)
• In eMarketers’ June 2021 survey, 53% of Black US social media users reported they made a purchase on a social platform in the past 12 months.
• Black consumers ages 35 to 44 spend almost twice as much time on TikTok daily than others in that age group, per Nielsen. In fact, Black consumers lead media usage on 4 out of 5 social media apps (Instagram, Snapchat, TikTok, and Twitter).

 

The latest offering from pop-up go

The latest offering from pop-up go, projeX by pop-up go is a virtual pop-up marketplace and online shopping destination that connects consumers to a diverse variety of small businesses, boutiques, and local retailers, allowing them to discover high-quality, exclusive, and exciting finds. Brands can sell directly to consumers, create virtual pop-up stores, or host digital experiences – all in one place. It’s a great way to launch a new product, test a new concept, or build an online presence.

Interested in being one of the first brands on projeX? Apply now!

Location data is a core way for retailers to drive consumers to a local store or pop-up by targeting customers primarily, but not exclusively, through social media and search ads.

#FunFact: Nearly 4 in 5 retailers that used location data said they did so for geotargeted marketing and communications. (Source: BCG)

Beyond using location data to provide directions to stores or identify nearby inventory, retailers can also use it to alert workers when customers arrive for curbside pickup, or to allocate workers in anticipation of a surge of shoppers. Real-time data can also track supply chain movements, which can let shoppers know when to expect in-store availability or delivery of their ecommerce orders.

Landlords: Add properties to the pop-up go site.