A recent survey conducted by NRF BIGResearch in which a five-year comparison of Christmas holiday consumer intentions and actions were measured showed a positive upswing in consumer confidence and holiday spending. Categories on this survey included:
• Average Amount Consumers Planned to Spend For Gifts
• Average Amount Consumers Planned to Spend for Christmas or Holiday Decorations
• Average Amount Consumers Planned to Spend for Christmas Holiday Food
• Percentage of Consumers Planned to Spend on Non-Gift Purchases For Themselves
Increases were shown in three of these categories, with the exception of a slight dip in Holiday Food (down $86.32 from 2009’s $90.14). Most telling, however, was the 2009 – 2010 jump from 52.9% to 57.1% of consumers that planned to purchase non-gift items for themselves.
Clearly, the economic market is recovering. Consumers are buying for themselves, they are buying for others, and their confidence is retail making a comeback. If you are a business owner, there is one very important way to capitalize on this positive paradigm: In store marketing. By focusing on your retail signage, you are focusing on increasing your business by giving clear and concise direction, suggestion, and opportunity to your existing and new customers.
Interior retail signage creates immediate opportunity and impact. Unlike radio advertising which encourages consumers to make time in their day to visit a location for a product or service, in-store retail signage encourages on the spot decision making, provides brand-specific messaging, educational information and interactive consumer opportunities (such as sweepstakes or product contests). With retail signage, all the information the consumer needs to make a purchase decision is literally right before them.
A trend gaining in popularity over the last few years is to use store traffic patterns to optimize your retail signage placement. An analysis of your traffic flow will allow you use your retail signage to direct consumers to favorable products or give you the opportunity to re-arrange your layout to make best use of your consumer flow.
Things are looking up for the American business owner and retail signage will play a very large role in the individual success of each corporation. Failure to acknowledge the placement and power of your in-store signage is a failure to capitalize on a massive marketing opportunity.