In-Store Digital is Dynamic – So Why are some Settling for Sluggish?
We are all familiar with the statistics: over 70% of all purchases are made in-store. European retail media spending is set to reach €25 billion by next year. Retailers such as Tesco, Iceland, Co-op, Superdrug, and others are investing heavily in in-store digital signage. Retail Media and the opportunities presented by the store are rightly recognized as significant and potent.
After 15 years of working within retail media, I am inspired by how brands, agencies, and retailers recognize the value of in-store and are composing new campaigns that take advantage of the store as a unique space of insight and impact. However, I am frustrated by the ways that some retailers, brands, and agencies still treat in-store as an essentially static channel, ignoring the opportunities presented by in-store digital displays and sensor technology. In doing so, they run the risk not only of running inefficient and wasteful campaigns that fail to achieve their full sales potential but also of squandering the attention and trust of shoppers.
My advice to advertisers looking to use in-store digital advertising is to work with partners who fully understand the capabilities of the medium. If you are booking space on retail screens like how you would book a branded gondola end, static POS, or shelf-edge media, then you may be working with a retailer that is failing to optimize your marketing spend for the in-store digital channel. With digital display technology and using in-store data linked to sales data, loyalty cards, or additional factors such as the news cycle, the weather, or seasonal events, whatever is likely to impact your audience, you should be able to execute a campaign that truly resonates with the shopper in the store in the moment. With the right technology, creative and planning restock messaging is alternated with discovery-style messaging, depending on who is in the aisles and where they are in their purchasing cycle. That is just one example; there are countless more. Digital campaigns can and should be more local and relevant than anything available using cardboard. This relevancy is only truly possible with the right technology and team in place.
Utilizing the in-store digital channel fully benefits everyone, not just brands. Retailers selling their in-store digital presence as simply another form of programmatic or resting on a CPM model rather than measuring shopper actions are missing out on not just a justifiably higher rate but also the opportunity to work with brands to deepen customer understanding and create compelling experiences that encourage repeat visits and purchases.
For retailers, understanding the vast capabilities of in-store display screens, as well as the unique data sets available within the store, should enable them to offer brands much more. Using dayparting and in-store shopper data, retailers can not only sell more inventory but also price it accurately, offering rates that reflect the relevance and effectiveness of the placement. This value is proven by accurately measuring the number of individuals who engaged with a screen and then made a purchase. This data is available, meaning prices can be determined without obfuscation so that brands and retailers can benefit from understanding just how powerful in-store is. The store is a potent channel, now more than ever before. Let’s ensure we’re making the most of it.
About the Author:
Alison Dunham
Alison Dunham, is Sales Director, In-Store Retail Media, UK for PRN, s STRATACACHE company. She has significant sales and leadership experience with a career including senior positions at GIG Retail, Triad Retail Media, and Result. Skilled in identifying opportunities to maximise advertising impact, Dunham has driven retail media advertising success for leading UK grocers ASDA and Morrisons.