In­dus­try Spot­light Sig­nage

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The In­dian or­gan­ised re­tail In­dus­try is grow­ing at 21% and VM&RD estimates the top 25 re­tail­ers to be oc­cu­py­ing about 75 Mil­lion sft of re­tail space. This space uses about 15 mil­lion sft of sig­nage fun­da­men­tally as Ex­te­rior Sig­nage, In­te­rior Sig­nage, Way Find­ing Sig­nage, Mer­chan­dis­ing Sig­nage and in­for­ma­tion sig­nage. Some are per­ma­nent sig­nage, some tem­po­rary and some are dy­namic sig­nage used to cre­ate in­ter­est, in­spire, in­form and en­ter­tain shop­pers in re­tail en­vi­ron­ments. Some in­ter­est­ing in­for­ma­tion from sur­veys done by var­i­ous re­tail­ers on the im­pact of sig­nage on busi­nesses in­di­cate

About 70% of con­sumers (8 in 10) en­tered a store for the first time based on the sig­nage

About 75% no­tice a store pri­mar­ily be­cause of the store front sig­nage

About 55% are de­terred from en­ter­ing a store with a poor qual­ity of a store sig­nage

About 65% of shop­pers be­lieve that a sig­nage re­flects the qual­ity and se­ri­ous­ness of a re­tailer

About 65% of the browsers are be­lieved to have con­verted to shop­pers be­cause a sign caught their eye

About 60% of stores have re­ported an in­crease of about 10% of sales sim­ply by en­hanc­ing the vis­i­bil­ity of their sig­nage

VM&RD’s sur­vey of the top 18 re­tail sig­nage spe­cial­ist in In­dia gives an in­ter­est­ing over­view of the ser­vices and ex­per­tise avail­able in In­dia for the mas­sive ex­pan­sion and op­er­a­tions of brand and re­tail­ers. Top global brands en­ter­ing In­dia have rat­i­fied the qual­ity of sig­nage ven­dors in In­dia by procur­ing all their sig­nage re­quire­ments from the In­dian Sig­nage In­dus­try.

Muti-di­men­sional of­fer­ings: Most of the sig­nage spe­cial­ists of­fer mul­ti­ple prod­ucts and ser­vices for clients across in­dus­tries mak­ing good qual­ity a de­moc­ra­tized avail­abil­ity in the In­dian mar­ket. The three key fac­tors that re­tail­ers and brands in In­dia de­mand are at­trac­tive­ness/qual­ity, cost ef­fec­tive and rapid de­ploy­ment/ex­e­cu­tion. A lot of the con­ven­tional tech­nol­ogy and me­dia is be­ing re­placed by newer ones that have been a re­sult of ex­ten­sive R&D and in­vest­ments in new me­dia ma­chines. Chal­lenge in at­tain­ing global bench­marks: Though the in­dus­try is grow­ing steadily at a CAGR of 21% the chal­lenges have been the avail­abil­ity of the global best in class, the con­sis­tency of qual­ity and the high de­pen­dence on the skill of the pro­duc­tion staff. The other side of the coin re­veals that the high pres­sure on low cost ex­pec­ta­tions from clients make the de­liv­ery of global bench­marks quite un­vi­able for most of the play­ers.

New Trends: Cor­po­rate Re­tail­ers and Brands in In­dia are mov­ing to­wards ridged & di­men­sional let­ters for sig­nage in line with global trends. In In­dia, 50% of the de­mand is still pre­dom­i­nantly flex sig­nage.

In­ter­na­tion­ally, the ma­ture re­tail global mar­kets have in­creased the use of dy­namic dig­i­tal me­dia and con­tent with video walls and LED graphic signs which In­dia is catch­ing on to. One good trend is that brands own­ers are will­ing to be ed­u­cated about the syn­er­gies be­tween ar­chi­tec­ture, brand and the sig­nage helps in­creas­ing the ap­pre­ci­a­tion and dis­cern­ment in good qual­ity. The growth en­gine: The In­dian Re­tail Sig­nage In­dus­try has been grow­ing at about 21% (in­ci­den­tally the same CAGR as that of the re­tail in­dus­try) with an av­er­age age of the In­dian Sig­nage In­dus­try be­ing about 15 years and re­duc­ing steadily with more new play­ers en­ter­ing the In­dus­try. On an av­er­age, they fo­cus about 40% of their pro­duc­tions for the Re­tail In­dus­try. The pro­duc­tion fa­cil­ity space of these play­ers is about 300,000 sft with an av­er­age of 20,000 sft for each with an av­er­age of about 65 staff man­ning each fa­cil­ity. Suren­der Gnanao­livu

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