Welcome to a revitalized era of in-store experiences! Following a challenging period during the pandemic, physical stores have made a remarkable comeback. This revival is not just about filling empty spaces but revamping the shopping experience with dynamic and interactive in-store media placements that enhance brand awareness and drive purchases. In this blog, we explore five ways to harness in-store media for retail growth.

Welcome to the New Age of In-Store Experiences

At the height of the pandemic, it seemed retail might never fully recover. A study by SafeGraph in April 2020 found that the average distance traveled by customers to retail stores decreased significantly, alongside a surge in curbside pickups. However, today, in-store shopping is thriving once again.

According to the New York Times, shopping center vacancies have hit a two-decade low, with demand for retail real estate surpassing supply for the first time in 20 years. Much of this growth is fueled by restaurants, which accounted for more than 19% of all retail leases last year. Total restaurant sales are expected to top $1.1 trillion this year—a new record.

For marketers, this re-emergence combined with immersive retail media opportunities has unlocked new ways to engage consumers. This includes digital-out-of-home (DOOH) campaigns, pop-ups, and installations with interactive displays.

The DOOH market is set to grow at a CAGR of 11.6% to reach $32.63 billion by 2030, with the U.S. accounting for over 37% of the global market.

The Rise of In-Store Retail Media

In-store retail media is becoming an essential part of the DOOH landscape. According to eMarketer, in-store retail media will account for more than 10% of US DOOH ad spending this year, reflecting the expansion of in-store ad inventory.

Digitization is transforming stores, turning shelves, end caps, cooler doors, and checkout aisles into valuable ad impressions and new revenue streams for brands.

Five Ways to Leverage In-Store Retail Media for Revenue Growth

1. Capture Shoppers Where It Counts

Digital screens offer a prime opportunity to engage consumers precisely when they are poised to make a purchase decision. Strategically placing displays near high-traffic or high-interest products can encourage impulse purchases and solidify brand preference at the point of sale.

2. Speak Directly to Your Customer

Harnessing data on consumer behavior and location helps brands broadcast resonant messages. For example, a grocery store could use digital signage to offer special discounts on hot dogs during the July 4th holiday, ensuring the messaging is timely, relevant, and personalized.

3. Weave a Connected Consumer Experience

Merging in-store and DOOH media with online strategies creates a cohesive omnichannel experience. A retailer could run a DOOH campaign that complements a mobile ad, allowing customers to scan a QR code to view a mobile catalog or redeem exclusive offers, guiding them seamlessly from awareness to purchase.

4. Gauge and Adjust with Real Data

Modern in-store media solutions offer sophisticated analytics, providing real-time insights into engagement, sales uplift, and ROI. Brands can adjust their frequency or creative in real-time based on high-performing ads during peak shopping hours.

5. Innovate with Engaging Formats

Modern retail media supports cutting-edge formats like augmented reality (AR) and interactive displays. A sports equipment store might use AR to let customers virtually try on gear, adding elements of gamification that captivate and entertain while they shop.

Takeaways

• Blended Marketing Approaches: Combine traditional and digital strategies to make the most of the in-store resurgence.

• Strategic Ad Placements: Enhance engagement at critical decision-making points to influence brand preference.

• Leveraging Real-Time Data: Use sophisticated analytics to measure and optimize campaign performance for maximum impact.

• Innovative Ad Formats: Adopt AR and interactive displays to add gamification and deep interaction to the shopping journey.

Are you ready to harness the full potential of in-store retail media? Request a Demo today to explore how our DOOH creative solutions can elevate your brand strategy.