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In-store shopping relies on displays to attract customer attention and make your products stand out from the competition. As a result, in-store marketing is crucial to the success of a consumer product company.
With the growing popularity of online shopping, retail storefronts have had to transition to the next step in in-person shopping, taking advantage of technology to adapt to the changing environment. Innovative solutions like self-checkout, omnichannel shopping and interactive product displays are among the technological solutions continuing to transform the retail sector.
Below, we dive into the future of in-store marketing and how it’s revolutionizing the retail shopping experience.
The Evolution of Retail Displays
The retail display has a rich, ancient history dating back to the earliest civilizations, such as the Romans, Greeks and Egyptians. In those days, merchants used hand-painted fabrics and plaques to advertise their businesses. Hand-painted signage, particularly on wooden boards, became more elaborate and established in the Middle Ages.
With the large-scale availability of printing presses in the 19th century, retail displays entered the era of technology, allowing businesses to produce more precise and effective signage. Traders could print colorful posters with intricate designs that appealed more to customers. In addition to printing technology, innovations, such as neon lights from the 1920s to the 1980s, added a new layer of vibrancy to the retail sector.
However, the transition to digital technology in the 2000s, followed by interactive displays made possible by the recent emergence of artificial intelligence (AI), augmented reality (AR) and virtual reality (VR), has completely revolutionized retail displays. The AR/VR market is experiencing rapid growth, with a revenue projection of $40 billion in 2024 and an estimated $62 billion by 2029. The popularity of these interactive technologies will continue to shape retail displays, offering consumers more immersive shopping experiences.
Technological Innovations Shaping the Future
Emerging technological innovations majorly impact how consumer product companies present and serve their products. The shift into digitally enhanced physical shopping comes as a response to the rise of online shopping, which has necessitated a quick and irrevocable retail industry transformation. Here are emerging innovations that have become crucial in retail:
Augmented Reality and Virtual Reality
The future of retail is closely connected with AR and VR as these technologies allow customers to visualize and interact with products while in a physical store. As a result, consumer product companies can now offer shoppers omnichannel and immersive digital shopping experiences. Through AR and VR interactive displays, customers can enjoy next-level virtual visualizations, product tours and try-ons.
Artificial Intelligence and Machine Learning (ML)
AI and its ML capabilities create personalized experiences for consumers in the digital space. With an estimated $3.7 trillion contribution to the North American economy by 2030, it’s easy to see AI’s massive potential. Businesses can now use AI to understand customer behavior and offer personalized recommendations. Armed with AI’s predictive insight backed by data analysis, your consumer product company can tailor their in-store marketing strategy and retail displays to reflect customer needs.
Internet of Things (IoT) and Smart Displays
IoT technologies are transforming retail environments from radio frequency identification (RFID) product tracking to smart shelves that detect stock changes. Your business can enhance customer experiences through IoT-enabled smart displays that provide personalized content based on specific customer data, including demographics and previous purchase history.
Impact on In-Store Marketing Strategies
A solid in-store marketing strategy follows best practices for setting up displays to maximize visual appeal and attract customers. So, how can the advancements in retail display impact your brand’s in-store approach?
Enhanced Customer Engagement
Retail displays evolved from traditional shelves holding only products to more attractive, attention-grabbing alternatives. One innovative display is smart shelves that feature interactive screens, which guide customers through product options and help them with their purchase decisions.
Another revolutionary feature is the point-of-purchase (POP) product display — a custom-designed, temporary display rack separate from the traditional aisles. POP displays direct attention to specific products through creative, high-quality graphics and messages, effectively promoting the merchandise. While different from interactive displays, POP displays are just as impactful in engaging customers.
Increased Sales and Conversion Rates
Incorporating augmented reality and IoT solutions can help you generate valuable data, which you can use for targeted product placement. Smart display screens utilizing AR technologies can also influence purchase decisions through immersive product tours and promotions. These integrations offer shoppers seamless experiences, allowing them to visualize products through virtual mirrors and interact with screens for additional product information.
Operational Efficiency
Aside from impacting customers, your consumer product company can help retail stores boost operational efficiency with advanced displays. One of the key benefits of IoT, for example, is promoting effective inventory management. Stores can use RFID technology to speed up inventory tracking, ensuring accuracy and offering your business valuable insights into which products are moving off shelves quickly. Your company and retailers can also cut costs associated with nonautomated processes by using IoT to collect and analyze customer data.
Challenges and Considerations
While advancements in retail display promise a bright future where online and in-store shopping overlap and work harmoniously, equipping your consumer product company’s displays with these technologies can be challenging. Here are things to consider:
- Implementation costs: The costs of implementing IoT, AR and AI solutions can be steep, which may restrict small businesses with tight budgets from taking advantage of such industry transformations. Before upgrading your displays with these innovations, you must also have a detailed and realistic plan that aligns with your goals to ensure a return on your investment.
- Data privacy and security: Using technology to track and analyze data for strategic display can breach customers’ privacy, resulting in problems with the law. When navigating these changes, you want to protect consumer data and comply with state and federal regulations.
- Rapid technological changes: The digital age has led to rapid changes in the retail industry due to emerging innovations, from 3D visuals and cashless transactions to AI integration. As a business, you want to stay current with emerging technologies and be flexible enough to adapt to new trends.
Future Trends and Predictions
The future of retail display involves an overlap of the physical and digital worlds, offering a more engaging and interactive shopping experience. As emerging technologies like AI continue to develop, you can expect to see more of these advancements to enhance your retail displays’ performance.
Some of the trends that are likely to have a long-term impact on the retail industry include:
- Data generation via AI.
- Automated inventory management.
- Omnichannel shopping.
- Sustainable solutions.
Embrace the Future With Creative Displays Now!
After a long history of technological advancements and changing industry needs, retail displays are entering the future. Adopting innovative in-store marketing solutions and utilizing engaging retail displays can make all the difference for your business.
Creative Displays Now understands the value of quality and impactful product presentation. That’s why our custom POP displays, made from corrugated cardboard, are designed to help you drive your product and seasonal campaigns. Explore innovative retail display technologies and use our POP displays to enhance your in-store marketing strategy.
Contact us for an estimate or to learn more about custom retail displays!
