What is your reaction to a sea of in-store signage that only says things like 25% off, 3 for 2, one extra free etc.? Are you still excited by the opportunity to grab a bargain or does it just make your shopping more complicated and take longer? Even worse does it put you off shopping?
Retailers can no longer count on promotional offers and discounts to significantly grow sales. Past a certain point the more offers that are displayed across the store the less effective they become. Instead of standing out as special they become the norm and expected by shoppers which makes it hard for retailers to increase margins.
Add value to shoppers
Shoppers love stores that add value to them. Yes price is a component but it’s a blunt instrument and has very limited long term impact. Shoppers are much more demanding and retailers who understand value beyond price will increase sales while retaining more margin. For example imagine 5 different scarves, some of which are 20% off and shoppers have to sort out which ones have the discount. This can cause issues. Compare this approach to signage that shows how one full price scarf can be worn 5 different ways.
The above example adds value by telling customers how they can get more out of a product. The same technique of added value content works with any product. For example “5 things to do with gourmet baked beans” or something as simple as “Goes best with British beef” on a bottle of British beer. Of course this also has the advantage of potentially selling two products.
Don’t lots of stores do this already?
Some stores do use techniques like these already but the big thing that holds them back from rolling it out on a wider scale are the limitations of their existing signage system. Older signage systems can’t print in-store or cope with managing the variety of potential messages and images. Signage systems like NetTickIT give retailers the opportunity to move away from a sea of offer tickets to an appropriate and flexible blend of promotions and added value content.