Even Vacant Storefronts Sell
With as many as 10,000 retail store closures expected by the end of 2021, according to Coresight Research, there is untapped potential for retail storefronts to also serve as out-of-home advertising spaces.
Retailers across the world are transforming merchandise into artwork and creating eye-catching installations to drive traffic. Even though retailers may not occupy the specific storefront, there is still high foot traffic in the area and significant value in the brand real estate of a prime storefront regardless. For example, a jewelry brand with an affluent, middle-aged audience may advertise in an empty space near a Lululemon or Apple store.
According to AdAge, this new trend of renting vacant storefronts to advertisers can garner $25,000 - $30,000 from ads per month, and landlords stand to receive a hefty percentage of that revenue.
Despite changes in consumer behavior over the last year, the demise of commercial real estate and brick-and-mortar retail has been exaggerated.
“Forty-six percent of respondents said that given the choice, they prefer to shop in person rather than online,” according to Raydiant’s second annual "State of Consumer Behavior Report."
More importantly, customers are more likely to make a purchase in a brick-and-mortar store. Best Buy found that 52% of those who shopped in-store bought a product compared to 36% of people who shopped online. Brands can capitalize on the strong desire of consumers to continue to physically visit their favorite stores.
“Eighty percent of customers now consider the experience a company provides to be as important as its products and services,” according to Salesforce’s "State of the Connected Consumer."
Raydiant’s "State of Consumer Behavior Report" revealed that 90% of consumers are more likely to return to a store if they have a positive in-store experience, and 61% said they are likely to spend more money when enjoying a positive offline experience.
The good news for retailers is that it is marginally more expensive to create an engaging in-store experience through graphics, architectural finishes and aesthetic touches. The potential return on investment is significant and it encourages repeat visits.
While consumers crave an excuse to leave their house, that doesn’t mean they are leaving access to technology behind too. With the ubiquity of smart phones, having the ability to connect on-the-go is easier than ever.
For example, when the W Hotel in Philadelphia was under construction, it teased their opening through various QR codes that directed passersby to a branded Spotify playlist created by local Philly DJ Joshua Lang. The W Hotel also incorporated a QR code that led to an Instagram Reel of personal trainers who were running fitness classes on-site.
Adidas created an interactive digital window concept for their NEO teen fashion line that connected via Bluetooth to consumers’ smartphones, allowing them to experiment with various clothing pairings on a mannequin, showing that the possibilities are endless.
Near Field Communication (NFC) tags can also be embedded in storefront graphics and retail displays, which allows a consumer to hold the phone over the tag and connect to a website, social media platform, video, content download or to receive an email.
Where do you start? SpeedPro designs and implements large-format printing and graphics and offers digital signage to create a more dynamic advertising experience. A partnership with SpeedPro allows a company to translate its brand’s personality into a captivating design. Across the nation, SpeedPro offers expertise in developing images for windows, walls, floors, ceilings and anything else you can imagine.
Whether you want to advertise in unique ways or need to generate additional revenue by developing your storefront into an attention-grabbing billboard, SpeedPro will partner with you to develop impactful graphics, displays and retail experiences. Contact SpeedPro today to learn how you can leverage state-of-the-art visual branding and communication tools to accelerate your marketing and potentially generate unexpected revenue.
About SpeedPro
SpeedPro specializes in transformation through large-format printing and graphics. SpeedPro’s expertise is in translating its client’s vision into flawless large-size graphics using the industry’s most innovative printing technologies. Whether you have print-ready artwork or you need to commission an original custom design, SpeedPro works with clients and marketing agencies of all sizes and industries to produce graphics and prints that add branded experiences to retail windows, sports arena banners, event graphics, trade show displays, vehicle fleet wraps, wall murals and so much more. SpeedPro also recently launched a new proprietary technology called InfoLnkX, which is touchless smart signage technology that transmits information directly to a user’s phone simply by holding the device up to an embedded NFC chip without having to download an additional app. For more information, visit SpeedPro online at visit www.SpeedPro.com.
