Retail Media is defined as any advertising on a Retailer’s owned channels, this includes;
Instore - Audio, Screens, Signage, Samples
Online - Website, Apps, Social Media, Email, Search, Display
Offline - Mail, Print, Out of Home, Linear Television and Broadcast Radio
As Retail Media 2.0 evolves, the spotlight shifts towards in-store experiences. Despite the rise of e-commerce, brick-and-mortar stores continue to command a significant share, accounting for 70% of retail sales*.
In this article, we will explore the array of in-store advertising options primed for commercialization and geared towards elevating the customer experience.
Formats
Audio: Utilizing existing or newly installed speaker systems, audio delivers targeted messages, including promotions, announcements, and branded content. These ads can be monetized through supplier campaigns, offering a lucrative revenue stream for retailers. Strategically curated music playlists not only enhance the customer experience but also boost staff morale and productivity, creating a conducive environment for increased sales.
Screen Displays: In-store TV screens serve as versatile platforms for showcasing product promotions and dynamic content. With the ability to rotate advertisements, retailers can optimize visibility for various suppliers and products. Visual stimulation attracts customer attention and encourages engagement, leveraging the innate tendency of our eyes to gravitate towards screens.
Signage: Positioned strategically throughout the store, signage, including banners, signs, and decals, reinforces promotional messages and brand identity. Often located near cash registers or key product displays, signage serves as a visual cue that complements audio and screen advertising efforts, further enhancing brand visibility and recall.
Free Samples: Offering free samples is an effective strategy for introducing customers to new products and enticing them to make future purchases. By allowing customers to experience the product firsthand, retailers can build trust and loyalty, ultimately driving sales and fostering brand advocacy.
Why Audio in store?
Audio stands out from other forms of media due to its remarkable capacity to enrich the customer journey through the universal appeal of music.
As highlighted in our article "Amplify Your Sales - The Secret Tune of Audio Psychology" the power of audio in influencing consumer behavior cannot be overstated. Unlike visual stimuli, which can be consciously ignored, audio permeates our subconscious, allowing us to passively absorb information that we can later recall surprisingly well. The ambiance created by audio can significantly shape the customer experience and directly impact the likelihood of converting sales. Indeed, walking into a silent store can create an unsettling atmosphere, whereas carefully curated audio can enhance comfort and prolong dwell time. By prioritizing audio in your retail environment, you can create a more engaging and immersive experience for your customers, ultimately driving sales and fostering loyalty.
How can Qsic help?
At Qsic, we specialize in empowering retailers to maximize the potential of their Retail Media Networks through strategic audio commercialization. By harnessing the power of audio, we transform your store's ambient sound into a dynamic revenue stream. We elevate the customer experience by curating licensed music playlists that align perfectly with your brand identity. Our team of skilled DJs and musicians possess expertise in crafting audio solutions tailored to our clients' unique requirements. With our innovative approach and unparalleled music curation capabilities, we help businesses create a branded audio experience that captivates audiences and drives tangible results.
*Source - Commerce Media - A Radical Paradigm Shift in the Advertising Landscape Quentin George - McKinsey & Company