How Are Retailers Benefiting from Digital Signage? Exploring Top 7 Digital Signage Retail Benefits
Digital signage has enhanced the way that consumers can engage with retail environments. Digital signage and digital mall directories offer consumers an innovative and interactive experience throughout their shopping experience. In this blog post, we will discuss the top benefits and use cases of digital signage in Retail, with a focus on two applications: digital mall directories and digital window signage.
How Are Retailers Benefiting from Digital Signage?
Digital signage is a rapidly growing industry, with the global market size estimated at USD 24.86 billion in 2022. It is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030. This growth is attributed to the increasing demand for digitized promotion of products and services to effectively attract the attention of the target audience.
This investment, increasingly seen as a non-negotiable asset for retail businesses, brings a multitude of benefits to the table. From improving brand visibility to boosting customer engagement, here are seven key digital signage retail benefits.
1. Enhanced Visibility and Reach
Digital signage serves as a platform that allows businesses to effectively showcase their offerings and attract potential customers. This technology surpasses traditional advertising methods like billboards and posters in terms of reach. It acts as a compelling tool that draws the attention of passersby, thereby expanding the business's visibility and extending its reach.
2. Increased Sales
Digital signage, when integrated with sensors in retail, has proven valuable by highlighting increased sales and providing insightful data on consumer behavior, such as age and gender preferences. This information not only aids in understanding the effectiveness of in-store advertisements but also enables retailers to tailor marketing strategies and optimize content. By leveraging this data, retailers can make informed decisions to maximize future sales and engagement, enhancing planning and decision-making.
3. Improved Customer Engagement and Relations
Digital signage ushers in a new era of interactivity. Retailers are placing greater importance on customer experience, with 77% of CEOs expressing their intention to change their companies' customer interaction methods, as reported by Accenture.
Businesses can display tutorial videos or host interactive games, fostering deeper customer engagement. Such engagement not only strengthens customer relationships and cultivates brand loyalty, but also contributes to a more memorable shopping experience.
4. Boosted Brand Awareness
A key advantage of digital signage lies in its ability to make businesses stand out. More recognizable and memorable than traditional signage, digital displays can be integrated into the overall brand strategy to bolster brand awareness and recognition. This increased visibility can lead to heightened customer loyalty and repeat business.
5. Streamlined Shopping Experience
Digital signage also serves to simplify the shopping process, thereby improving the customer experience. By displaying key information, such as product locations, prices, and availability, digital signage assists customers in making informed decisions, reducing potential frustrations associated with the shopping process.
6. Time and Cost Efficiency
For businesses striving to keep up with rapid market changes, digital signage is a time-efficient solution. It facilitates quick and easy content updates, saving the time and effort typically involved with traditional print media. This benefit extends to cost savings as well, as businesses can minimize expenses related to maintaining physical displays and employing additional staff.
7. Low TCO (total cost of ownership)
Lastly, digital signage is a low TCO solution offering long-term cost benefits. By reducing reliance on manpower and physical display maintenance, and allowing for remote management and content updates, digital signage presents substantial cost savings. Combined with the ability to enhance customer experience and drive sales, this makes digital signage a worthy investment for retail businesses.
Under the lens of these benefits, digital signage as one of the must-have assets for modern retail spaces becomes apparent. Its ability to grab customer attention, create dynamic advertising, and improve the retail environment empowers retailers to maximize their reach. The adoption of digital signage ensures an engaging, efficient, and economically viable retail experience, a vital consideration in the contemporary, fast-paced retail market.
Digital Signage in Retail: Digital Mall Directories
Digital mall directories are interactive platforms that significantly improve shopping experiences by providing real-time navigation assistance, multilingual support, and advertising opportunities. They outperform traditional directories by offering immediate, comprehensive shopping information and enhancing the overall customer experience. Additionally, these platforms often integrate with mobile apps, allowing for on-the-go directory access and giving mall operators access to valuable customer interaction data.
The key benefits of digital mall directories include real-time information updates, improved customer navigation, and potential revenue growth through promotions and advertisements. They support multiple languages catering to a diverse visitor base and serve as effective advertising platforms. Further, they collect essential customer behavior data, assisting mall owners in decision-making. Moreover, their integration with mobile applications allows users to conveniently navigate the mall through their smartphones.
Digital Signage in Retail: Digital Window Signage
Digital window signage is a dynamic, interactive form of a display located in storefront windows. By utilizing videos, animations, and slideshows, it captivates pedestrians and advertises products or services. These displays, easily updatable and adaptable to different seasons, times of day, or marketing campaigns, are designed for high visibility, even in daylight. They may also include touchscreen or augmented reality features. When paired with in-store displays, digital window signage enhances the retail environment, making it more engaging and exciting.
This signage presents a cost-effective solution for retailers, offering several advantages. It improves visibility, attracts foot traffic, and allows for rapid content updates. Digital signage is also more cost-effective than print advertisements because of its easy updatability. It offers businesses flexibility in content customization, enabling them to showcase new products or offers swiftly. Moreover, its centralized scheduling feature permits consistent messaging across various locations, and real-time updates allow businesses to display sales or company announcements instantly, fostering customer engagement.
Realizing Digital Signage Benefits in Retail
In summary, digital signage has become an indispensable tool for retailers seeking to enhance customer experience, boost revenue, and collect valuable data. At AUO, we offer display solutions for retail that cater to various fields, including large shopping malls, museums, and other diverse areas.
Retailers can showcase dynamic content through our digital signage solutions, attract more customers, and cost-effectively promote their products or services. They can work as the best weapons for showcasing brands and marketing promotions. We invite you to visit our solution page for Retail to learn more about how our solutions can help your business achieve its goals.
