Spring is right around the corner. It’s the season that signifies new life and inspires many to shake off winter by dusting off their homes in a fury of spring cleaning. It is also the time many retailers will have marked down their winter stock to make room for the spring season.
The best merchandising practices are often rooted in behavioral science. Many studies have shown that customers will react in expected ways to certain in-store triggers, including colors, store layouts, and video displays.
By now, most of us have experienced our first ‘VR’ moment. Mine transported me from the tradeshow floor at NRF in New York to Huntington Beach where I, very awkwardly but incredulously, surfed alongside dolphins.
Technological changes have always powerfully shaped the retail landscape—home refrigeration allowed consumers to stock more food items, the automobile helped patrons transport more purchases, and e-commerce introduced shoppers to products they'd never before dreamed of.
According to the recent Digital Signage Future Trends 2017 report from Retail Customer Experience, only 40% of retailers have deployed digital signage in their companies, and only 39% of those have to all locations. However, 54% of respondents plan to deploy within the next year.
With the onslaught of e-commerce stores and advancements in technology, an assumption would be that consumers would be drawn to shop online as opposed to shopping in-store.
Visual merchandisers arrange retail space and product displays to encourage shoppers to buy. Naturally, retailers want to ensure visual merchandising provides a strong return on investment (ROI) for their companies. After all, why continue visual merchandising efforts if they don't translate into more sales?
Most companies can identify their customer’s lifecycles yet struggle to execute marketing strategies around customer lifecycles.
Digital signage needs to be a key part of today's retail stores. After all, it makes a strong impression: more than half of travelers who see a digital billboard can recall the exact message each time they passed the same billboard again. With digital signage, customers can remember a brand more clearly.
Move over Millennials, Gen Z (currently ages 10-17) consumers have arrived and despite their youthful age, retailers must take them seriously.