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CStoreMedia.com reports that: According to a new study, 90% of people shopping in retail stores make unplanned purchases of which 51 % of the decisions are taken in the shopping aisle.
Other studies have shown that in-store ads were very effective as in-store purchase triggers. This highlights the importance of in-store advertising as a method to generate excess revenue.
What Are The Various Methods Of In-Store Advertising?
Store displays as an avenue of in-store marketing are very common and comes in a variety of forms. Some of these ideas are as given below.
- In-Store Digital Screens – These convey messages in a continuous and content filled loop which can be custom programmed to provide information
- Checkout Dividers – The waiting lines in supermarkets can extend to be as long as 15 minutes at peak times. This is a good way to sell smaller items such as chocolates or gums
- Floor Graphics – Displays fixed to the supermarket floor are also a good use of floor space in a supermarket. Placed near the product, they are good at attracting the attention of the user to the product
- Primary Use – This method is more common in usable products such as cosmetic and fast food. This provides a trigger at the time of purchase to promote uncertain decisions
- Standees and Posters –This is the traditional format of in-store advertising and involves the display of various offers available in the store. This is indirect marketing and is used to promote other marketing offers.
How Effective Is It From An ROI Perspective?
In-store advertising is quite cheap when compared to other forms of advertising. Normal forms of advertising on TVs cost around 4 to 8 times more than In-store advertising on TVs in Walmart.
In-store, Ads have been found to have established a higher rate of recall amongst viewers than the Ads seen on home TVs.
The retailers involved in in-store advertising also benefit as they can charge manufacturers for the Ads. It is also beneficial to manufacturers as it improves not only sales but improves brand awareness and boosts publicity.
Suppliers with low brand awareness can be charged a higher amount for their ads as a premium for enhancing their brand awareness. Also, prominent sellers of a product can be charged a premium by providing them exclusivity.
Hence, the Return on Investment for in-store advertising is much higher than conventional advertising as there are higher sales for a lesser cost.
Primary Keyword: in-store advertising
LSI Keywords: shopping in retail stores, in-store purchase, generate excess revenue, in-store marketing, In-Store Digital Screens, Return on Investment