Effective signage can make a significant difference in a business’ presence, customer loyalty, and overall sales revenue. When considering that 2014 data revealed there are 30,000 SKUs launched every year, signs are needed to draw customers to all of these new and existing products.
Every day, consumers are exposed to an average of 3,000 ads and promotional messages. Many shoppers will conduct research on products of interest on their smartphones. When making their final purchase decisions, however, 77% will go into a brick-and-mortar store. Once in a store, 82% will completely finalize their choices.
A 2014 Mass Merchant Study revealed some interesting information about unplanned, or impulse, purchases. This study showed that 16% of these impulse buys were due to a display they saw while shopping. Whether they saw metal sign holder stands, acrylic display risers, or another type of display sign, it’s clear that these signs drew their attention to specific products.
It just takes 3 to 7 seconds for a consumer to make the decision between purchasing their usual brand or a competitor’s. Furthermore, it’s been demonstrated that a customer may make between 6 to 10 impulse purchases when they shop at a store.
The results of a series of studies, which includes Brigham Young University’s, found that when merchandise has a sign, it will outsell merchandise without signage by 20%. Studies have also shown that full-priced merchandise even performs better with signage. Data reveals that this merchandise actually performs 18% better than merchandise without a sign.
Store signage can also reach more potential customers than 30-second commercials. It can cost between $.03 to $.37 to reach 1,000 adults over the course of a year. A 30-second commercial, however, can cost between $4.05 to $7.75 to accomplish the same task.
It’s interesting to note that consumers will actually pay more for an enhanced customer experience. A 2011 report found that 86% of consumers shared this was the case with them. Display racks, flyer holders, and other types of signage can provide a better customer experience. This is because they are able to easily locate the products that they want, need, or are curious about, which can lead to those impulse purchases.
When shoppers pass metal sign holder stands that reveal specific product sections, announcements, or other relevant information, chances are that they will stop to read these. This can greatly enhance their shopping experience when these metal sign holder stands and other display signs also post notices about sales, promotions, and customer loyalty benefits.