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Key Trends: How Digital Signage will shape the Future of Retail

digital signage in retailImage: Freepik

Nowadays, almost all market, especially the retail industry, are widely adopting digital signage usage. In this vertical, physical store owner needs to stay relevant as the competition with e-commerce keeps increasing. This is when the judicious use of digital signage particularly in retail space comes into the play.

Check out the following trends on how digital signage is shaping the future of retail industry:

 

Improve the customer’s journey

Digital signage can be the key to capturing customer attention and driving greater revenue. Based on Gartner Research, 89% of companies are competing with each other on the basis of customer experience. In the competitive retail environment, it is vital for marketers to look for ways to deliver compelling experiences that customers cannot find elsewhere.

Retailers can use digital signage to promote one-to-one assistance to customers in busy stores. Additionally, digital signage also delivers interactive omnichannel experiences to engage with customers. These capabilities possessed by digital signage all have one common element which is the ability to create, analyse, and react in a world that requires real-time-based solutions.

Digital signage has shown that a new layers of value in indirect communication is needed in the retail realm. Hence, to build a successful digital signage strategy calls for new types of content and interactive experiences for customers.

 

Enhance the effectiveness of membership programs

Customers today are willing to invest more to get the greatest possible benefit from their loyalty programs. Plus, loyalty programs will highly influence customers to repeat their order with a particular brand.

Digital signage gives a great opportunity to highlight membership and loyalty programs or any related promotions by tying loyalty program data to create a even more compelling retail experiences.

Retailers can trigger the delivery of creative that is relevant to specific customers who scan their loyalty card in the physical store. Most customers want ads tailored to their interests and shopping history, thus integrating digital signage with membership program data would be the best possible solution.

 

Allow for dynamic promotional creatives

With digital signage, ads creative execution can be more smarter and dynamic. Technology has made it possible for the integration of data streams into digital signage platforms. For retailers, the integration of point-of-sale and inventory systems, weather feeds, sports scores, etc. has become possible.

For example, when the weather is cold, the digital signage will display more ads for coats and sweater. Similarly, when a celebrity is on a hot streak, their merchandise would be featured more prominently. These dynamic creative changes can be made easily at any time which will ensure ads are always relevant and adaptable with the current trends and promotions.

 

Put granular data at your fingertips

Digital signage can integrate analytic tools that enable retailers to get a clearer picture of who among their customers are looking at their digital signage. With location data collection functionality, digital signage help create detailed reports that reveal which promotions most appeal to which segments of the customer base.

With more advanced analytics systems integrated, more key insights into customers are gained. Retailers can use these insights to better engage with their customers and optimise content in real-time to be as interactive and personalised as possible.

 

Finally, is it worth your investment?

Affordability of digital signage is one of key consideration of whether retailers are getting the value they need from their investment. Some retailers are reluctant to invest in digital signage because of the possibility that the cost will outweighs the benefits.

But digital signage has evolved to rely less on hardware and more on digital flexibility, adaptability, and personalisation. So, the cost spent on digital signage can be optimised as less man labour and physical material are needed in the process of executing the campaign.

In addition, digital signage is also moving into indoor retail space with innovative software integration that allows  more engaging audiences interactions. The next big step would be putting a data analytics system in place to provide more in-depth data analysis, to enable the retailers to create more targeted and personalised creatives for their audiences.

 

Moving Walls operates Moving Audiences - a data-driven location intelligence platform that brings transparency and automation to out-of-home media via Planning, Buying and Measurement tools.

Our US-patented multi-sensors approach in location data collection had enabled us to process more than 10 billion data points and measure more than 35,000 media sites across the globe.

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