Snap has had a bit of a rough week. Its stock tanked after a poor earnings report that showed stagnant growth (4.5 million new daily active users this quarter) and the revelation that not enough people are buying its Spectacles smart glasses.
To cheer themselves up, the folks at Snap are holding a yard sale of sorts—off-loading Spectacles in a pop-up shop in London’s hip Shoreditch neighborhood. As reported by Mashable, starting Saturday, November 11, Snap will set up shop in Boxpark Shoreditch, selling everyone’s new favorite stocking stuffer. The store will not only be a retail outpost, but an interactive experience where customers can test out the Spectacles, and then (please somebody, anybody) hopefully buy them so Snap won’t have to keep paying for warehouse space in China.
Snap recently said it had only sold 150,000 units, and it ended up writing off $39.9 million to account for excess inventory. Since each pair of Spectacles sold at the pop-up shop costs $129.99 (£129.99), the company will only need to sell 307,000 pairs to break even. Get on that, Londoners!
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
