In a recent study conducted by M-Cube, involving 250 prominent retail leaders in the UK, a remarkable 91 per cent of participants reported experiencing significant revenue increases following their investment in digital signage solutions.
Furthermore, the study showcased a growing belief among retailers in the transformative potential of retail media, with an overwhelming 98 per cent of respondents asserting that retail media will play a pivotal role in shaping the future of the industry. A notable 89 per cent of these retail leaders are already turning to retail media strategies as a means to enhance their profit margins.
In terms of financial impact, the research revealed that 60 per cent of those surveyed anticipate that up to a quarter of their revenue will originate from digital signage and retail media solutions. Impressively, nearly half (48 per cent) of the participants confirmed experiencing a notable uptick in revenue and profits directly attributed to their investments in these technologies.
When delving into the reasons behind this trend, 52 per cent of respondents pointed to increased brand awareness and enhanced product discovery as the primary benefits of incorporating retail media into the customer shopping experience. In addition, a significant 83 per cent of participants emphasized the critical role of real-time consumer behavior data in executing successful retail media strategies.
Alexios Blanos, UK Business Director at M-Cube, expressed his insights on these findings: “In this highly competitive market, retailers are constantly seeking innovative methods to augment their offerings and elevate their profit margins. This data underscores retail media’s emergence as a key differentiator in this. It grants retailers avenues to engage customers across every channel, both online and in-store. Beyond offering retailers enhanced opportunities for profit maximisation, it deepens their understanding of their customers, positioning them better to curate personalized experiences.”
Despite the impressive results, the study also revealed that while 91 per cent of retail leaders acknowledged revenue growth attributable to digital signage, only 66 per cent have made investments in such solutions to date. Even more strikingly, a mere 13 per cent claimed comprehensive awareness of digital signage’s vast potential within the retail domain.
These findings highlight the increasing significance of digital signage and retail media in the retail landscape, with the potential to reshape the industry and drive substantial revenue gains for those who invest wisely.
