In store signage Market : Key Growth Factors and Industry Analysis 2018-2028
Posted: May 28, 2018
In-Store Signage Market Introduction:
Need for cost effective in-store marketing solutions for better communications is one of the key concerns for most of the retailers and brand owners across the globe. It enhances the efficiency of in-store marketing and advertising. Use of in-store signage has been growing exponentially during the last decade. Increasing penetration of modern retail across the globe paves the way in the sales of in-store signage. They are popular tool for branding and promotion in shopping malls and hypermarkets or to convey some message regarding specific products in the store. In-store signage can be used in portable frames in retail store or big promotional displays. Furthermore, they are used for various applications such as indoor graphic displays, retail signs, POP displays, and special advertisement regarding any discount offers or sale within a store. Overall, the outlook for the growth of global in-store signage market is expected to be positive during the forecast period.
Need for In-store signage:
In retail industry, in-store signage plays an effective role in generating sales and in-store advertising. It is used for in-store marketing, which helps in creating brand image among the customers. In-store marketing helps in establishing a rich brand identity for excellent customers’ experience. It is not only to retain existing customer base, but also to grab the attention of new buyers. In-store signage inside the retail store also helps customers to locate the merchandise. Nowadays, it has been seen that, it is the signage which actually attracts the customers in the store. In-store signage provides visual interaction between brand and customer which is a best way to connect customer to a brand. Today, there are lots of retail chains available in the market with lucrative offers. Interesting and appealing in-store signage actually distinguishes a retailer to its counterparts. Digital signage are now used in place of conventional signage in stores, and this trend is expected to continue over the next decade. It is due to the reason that digital in-store signage in retail can take the upsell a step further by grouping products together to meet current offers. These factors are anticipated to drive the in-store signage market in the near future. These actually behave as a silent salesman for the store, plus it helps in branding and promotions of respective products.
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Millennials are the target buyers:
It has been observed that, millennials prefer in-store purchasing instead of shopping online. They prefer to go to stores to buy products. Below exhibit shows how often millennials go for in-store purchasing. It indicates that, more than 50% of millennials prefer in-store purchasing and rest of them go for mobile and computers, i.e. online shopping for purchasing goods.
To keep this ratio up consistently, retailers and store owners need to provide attractive offers and in-store perks to the customers. This factor is expected to drive retailers’ attention towards attractive in-store signage, which helps in boosting the in-store signage market.
The in-store signage market is segmented on the basis of material used, product type, technology used, and end use.
On the basis of material used, the global in-store signage market has been segmented as:
On the basis of product type, the global in-store signage market has been segmented as:
- Headers & merchandisers
- Product displays
- Floor standing displays
- Directional & departmental signage
On the basis of technology used, the global in-store signage market has been segmented as:
- Poster based signage
- Graphic based signage
- Digital signage
On the basis of end use, the global in-store signage market has been segmented as:
- Retail Stores
- Supermarket & Hypermarkets
The product type segment various types of in-store signage in the market. The pricing can be accounted on the basis of product type.
Key players in In-store signage market:
Estimated Tier Structure of Companies:
Tier 1 Companies in In-store signage market:
It includes companies with revenue above US$ 15 Mn:
- Doyle Signs, Inc.
- Walton Signage
- North American Signs
- Jones Sign Company
Tier 2 Companies in In-store signage market:
It includes companies with revenue between US$ 5 Mn to US$ 15 Mn:
- Ramsay Signs, Inc.
- Baron Sign Manufacturing
- Impact Signs, USA
- Global Signs, USA
- Joslin & Son Signs
- Keith Fabry Reprographic Solutions
- Signtech Electrical Advertising, Inc.
Tier 3 Companies in In-store signage market:
It includes companies with revenue below US$ 5 Mn:
- Sign Pro Inc.
- Cummings Signs, Inc.
- Priority Sign, Inc.
- Anchor Sign, Inc.
- American Sign, Inc.
- Gordon Sign
- Deco-Sign LLC
- Casco Signs Incorporated
- Back Bay Sign
- Comet Signs, Inc.
Advantages of using In-Store Signage:
Some of the advantages of using In-Store Signage are as shown below:
- Promote sales
- Introduces new products
- Encourages impulse buys
- Leads purchasing decision
- Reminds customers
- Supports cross-promotions
Key Developments in In-store Signage Market:
- Keith Fabry Reprographic Solutions recently developed retractable battery-powered banner system, which can be as big as 24x10 ft. The system allows changing large displays monthly rather than yearly basis. It helps in enabling more promotions, which keeps store more appealing and attracting.
- The Howard Co. offers digital signage and digital menu boards for inside the store and for drive-through or pickup windows outside.
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