Retail on-site display is a hot strategy that you should not overlook
The ongoing move to greater online buying, aided by COVID-19, is well recognized at this point. However, you may be surprised to learn that nearly 7 out of 10 internet customers go directly to a retail site, rather than search engines, to purchase a product. According to Kantar’s State of Ecommerce 2021 survey, retail sites are the most visited pre-shop touchpoint for online buyers, ranking first for product research. According to the Path to Purchase Institute, about one-quarter of all customers buy at least two marketed products.
All of this means that retail sites are a highly valued component of the product purchasing journey—and that companies must stand out on the digital shelf more than ever.
The Role of Retail Display in the Shopping Experience
Shelf-talkers, panels, and point-of-sale (POS) displays are significant methods that businesses utilize in a physical retail shop to raise their presence on the physical shelf and increase awareness and impact consideration. Retailers and brands have adopted retail display as a tool to fulfill the same upper funnel objectives in the digital environment as online has increased in importance.
Retail display is the online version of shelf-talkers and point-of-purchase displays, and it is arguably more vital for the ‘infinite’ digital shelf, where products can be concealed below the fold of search and browse sites. In fact, 90% of all purchases are found on the first page of search results. Even for household names, if a product isn’t immediately visible on a retailer’s website, the chances of the potential sale are greatly decreased. Retail display is the most effective method for increasing visibility on merchant websites and influencing the buyer’s journey.
Onsite display ads are just as valuable to retailers as their physical shop counterparts. They make it easier for customers to find what they’re looking for, which benefits both the customer and the store in terms of happiness. Furthermore, by providing more premium placements and options for advertisers, the retail display provides merchants with a new revenue source without jeopardizing or disrupting the customer journey.
Differences in Retail Display
The goal of the retail display is to engage with the shopper and ensure that your brand is visible while they browse or search. But it’s also about conveying a story, educating, and developing recognition so that shoppers add you to their list of possibilities.
Let’s look at four factors that contribute to retail display being a distinctive and effective format for reaching awareness and consideration goals.
- Retail display is a hybrid of branding and conversion.
Retail-specific display formats are an excellent complement to regular IAB display formats. Scale, run-of-site strategy, and pure-play branding all benefit from the standard display. A custom display is a way to go when advertisers want to add retail-specific aspects, customization, and a more seamless experience.
Brands can use retail display to combine storytelling with elements that stimulate purchases, such as real-time pricing and add-to-cart buttons. Because retail display is dynamic, brands may adapt each ad to the store and the page the shopper is on, taking into account factors such as stock, price change, colors, and special offers. This prevents shops and companies from advertising out-of-stock products or communicating incorrect product information.
- It’s Designed to Blend In.
Because retail display advertising is designed exclusively for retail, they blend in with the shopping experience, assuring relevancy and visual alignment with each retailer’s setting. This is critical for retailers and brands who want to maximize conversions and loyalty by providing the greatest experience possible.
- It is a Strategy for First-Party Data.
The retail display uses first-party data and is cookie-free. By leveraging keywords, categories, retailer audiences, CRM data, offline data, and other first-party data sources, this provides the most relevant targeting and personalization. With a higher level of relevancy, merchants and brands are better equipped to keep shoppers in-store to discover more products on product sites or shop-in-shops.
- Sales Can Be Tied to Retail Display.
While the retail display is an upper-funnel strategy, the ultimate goal of distinguishing out on the digital shelf is to increase product sales. Retail display campaigns can be measured down to the SKU level, allowing brands and retailers to accurately correlate media spending to sales results. Because it’s not only about raising awareness and being present—also it’s about directly influencing the purchase at the point-of-sale.
Benefits of Retail Display for Brands and Retailers:
To summarize, this high-end, made-for-retail format serves both sides of the retail media ecosystem:
Brand Advantages:
- Expand your brand.
- Make a statement on the digital shelves.
- Tell your story to engage customers and drive sales.
- Turn on first-party audience targeting advertisements.
- With a point-of-sale display opportunity, you can scale your display advertising by reusing assets, expanding reach, and increasing sales.
Retailer Advantages:
- Increase the size of your retail media program.
- Improve the shopper experience by displaying relevant, eye-catching, but non-disruptive advertisements.
- Utilize upper-funnel brand budgets to generate new bottom-line revenue.
- Scale prospects for companies with limited inventory.
