Every business surveyed by a UK marketing company said they plan to broaden and use new technologies to create growth. More than half the businesses said they will increase their advertising budgets to target in-store point of sale strategies heading into the year 2020, according to the Epson 20/20 vision survey which interviewed 500 marketing managers and branding specialists.
In Store Point of Sale Strategies
The purpose of the survey was to evaluate marketing strategies used by businesses in electronic POS signage and in-store print material. The company then extrapolated this data out to the year 2020 in order to make a reasoned guess on how marketing strategies might change to meet the goals of businesses in the future. The marketing firm questioned businesses across Europe, including those in the UK, France, Germany, Spain and Italy.
Epson concluded that UK retailers will make major changes in in-store advertising as the market becomes more competitive. These changes will be driven by the need to target regional and specialized consumer groups. This will be a key consideration as UK retailers move forward in this decade.
The Epson survey of retailers showed that these companies are starting to plan highly targeted promotional campaigns in their stores. They will make use of both electronic signage and printed materials in order to appeal to consumers by sex, age and income.
In real numbers, the Epson survey revealed that 55 percent of businesses planned to increase POS budgets a great deal in the next seven years. Digital-based POS schemes would be dictated by the kind of product for sale. The respondents also stated that print media would continue to be a critical piece of marketing strategy.
In good news for local and small printing shops, the majority of retailers said they would follow the strategy of designing centrally and printing locally. At present, the breakdown in marketing mediums is 40 percent electronic and 60 percent print. Respondents also said that they would be out sourcing more print POS material to specialist printers. Currently, 39 percent of all respondents said that they print their own material on location. That number is expected to fall to 15 percent by 2020.
It’s expected that by 2020, print will make up 39 percent of POS activity. Today, 85 percent of companies stated that they considered print as the best medium for high-value products. The use of electronic screens for POS will largely depend upon the value of the product.
“What we’re seeing is a clear mix of print and electronic executions. Printed POS does a fantastic job of delivering an always ‘on brand’ message, where you don’t need complex, multiple messaging,” said Steve Sowden, a partner at Intermarketing Agency. The combination of print and electronics will allow marketing managers to create a campaign that is fantastic, Sowden added.
Retailers will be increasing marketing budgets and will expect a greater return on investment and a better analysis of how effective their marketing campaigns will be.
Epson said that it’s already starting to see a greater use of digital POS. This allows marketing analysts to design targeted marketing campaigns that hone in on things like season sales. Digital POS allows marketers to use tools like tracking footfalls and facial recognition to make marketing more effective and targeted. Digital is a cost effective way to deploy campaigns quickly and make adjustments as needed, and digital becomes more effective when supported by printed material.
Epson concluded that these POS tools and their effective implementation will create a moment of truth where the message will deliver what all retailers want – a sale.
“The Epson 20|20 Vision survey shows how UK retailers are planning to diversify to protect their business and expand over the next few years,” said Nick White, a business manager at Epson. White further stated that UK businesses will insist on increased efficiency in campaigns and a greater ROI. That will call for a careful targeting of promotional materials. Electronic POS media and printed material will both play an increasing critical role in driving sales and developing relationships with customers, White added.
Coleman Parkes Research commissioned the Epson survey. The data was compiled from interviews with brand managers, marketing specialists and consumer product marketers in retail.
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