Aiding retail’s recovery with digital signage
FEATURE
Text: Rob Fletcher
Digital signage already has a major role in retail environments, but this form of technology may have an even bigger part to play in the sector’s recovery from Covid-19. Rob Fletcher finds out more about how retail could be set for digital healing. While much has already been said and written about the struggles for retail over the past 12 months, with the sector opening up again this spring, attention is now turning to how the industry will recover as we edge closer back towards some sort of normal. Getting consumers back into shops will be one of the key challenges for retailers, with shopping habits having changed dramatically during the pandemic. In what is becoming an even more digital world, perhaps it is time for retailers to fight fire with fire and adopt a digital approach of their own. Digital signage is an incredibly powerful tool, not only for marketing purposes and drawing the attention of consumers, but also in terms of making shoppers feel safe during the exit from lockdown and longer term as we move tentatively out of the pandemic.
Optimistic future First, let us take a look at where might the general market be heading in terms of digital signage within the retail sector. Sean Wargo, senior director of market intelligence at AVIXA, the trade association representing the professional audio-visual and information communications industries worldwide, predicted an increase in demand for these solutions in retail.
“Our research suggests that retailer spending on pro audio-visual products and services is forecasted to be down by 14% globally in 2020 after a peak of $22.7bn (£16.4bn) in 2019,” Wargo said. “However, as shoppers return to more pre-Covid activity, growth in spending on technology also returns in 2021, expanding nearly 6% on an annualised basis reaching $26.3bn by 2025. Despite the declines in retail spending in 2020, Wargo said the market remains the single largest purchaser of displays. AVIXA estimates show $5.9bn worth of displays will be purchased globally through the pro audio-visual channel by retailers in 2020, with this then set to reach $7.3bn in 2021 as a result of market recovery. This, Wargo said, is despite the continual increase of online purchasing, with brick-in-mortar retail shops still thriving. However, in order to stand out in the physical retail market, shops must ensure they can attract customers, and Wargo said using digital signage is sure-fire way of differentiating from competitors. “What this means to retail is a need and desire for brands and stores to differentiate themselves from each other,” he said. “They do so through narratives, or the story that their brand tells to and reflects their customers. “Some of this story is told online, but more and more this story also needs to be told in person. Physical stores facilitate a tactile experience of trying on, feeling, or seeing a product, but also >>>>
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