Wagreens is experimenting with a new store format, which made its debut earlier this year. A few folks from our team recently visited the newly redesigned Walgreens in the South Loop area of Chicago. The experimental new format is a move in the direction of hybrid retail, but we suspect it’ll take several more iterations of this new concept before Walgreens gets it right.
Digital signage is crossing over into mainstream retail more quickly than ever before – a movement that’s only accelerated throughout the pandemic. But making the digital migration can raise some big questions. Our clients often come to us asking questions like:
How does digital signage work?
Why should we invest in digital signage?
What’s the cost of upgrading traditional signage to digital?
Is now the time right time to invest in digital?
Digital signage at retail is going mainstream, and for good reason. Digital displays can drive a 31.8% upswing in overall sales volume at retail. So if you’re aiming for growth and have the budget, our answer is YES, invest in digital and do it now!
If sales lift alone isn’t enough incentive, here are seven more reasons why you should invest in digital signage today.
7 Reasons to Invest in Digital Signage
1. Video vs. Static Images
People are 240% more likely to engage with video content than with a static image. Any retailer should jump at the chance to more than double in-store engagement because it drives sales and builds customer loyalty.
2. In-Store Flexibility
Digital signage offers the ultimate flexibility – refreshing display collateral and updating products is simple and instantaneous. Most digital signage platforms offer user-friendly cloud-based management for quick and easy updates.
3. Speed to Market
With digital signage, you can always be first to market! New content can be updated immediately following new promotions or new products announcements. A new iPhone is released? Highlight the beautiful form-factor in smooth, branded video all over your store on day one!
4. Long-Term Savings
Some of our clients spend millions of dollars every year printing new fact tags, headers and other printed graphics, only to discard them a few weeks or a few months later. Going digital significantly reduces that spend, while also reducing the environmental impact of traditional printed materials.
5. Customer Engagement
People remember 90% of what they experience. Digital signage can become a bi-directional experience using a solution such as our Converge® Control Smart QR Codes, which let shoppers take control of any screen using their phone to engage with curated content and product information.
6. Network-Connected Technology
The value has never been greater for network-connected displays. With Internet-connected digital content management systems such as our Converge Platform, connected displays make reliability, QA, content updating and two-way metrics easier and more cost-effective than ever.
7. Real-Time Store Monitoring
Monitor which stores are live and verify the content being displayed at any time. With static signage, out-of-date graphics require you to send someone on-site to make the update. With digital signage, you can remotely monitor at any time which screens are live, and confirm that the right content is on display.
(Data Source about Digital Signage Here)