It’s the era of the retail apocalypse. More than 2,000 stores, including from the big brands, will be closing from 2018 to 2020.
A lot of factors influence this tough decision. For one, the consumers’ preferences have changed. More are now shopping online compared with brick-and-mortar stores. From 2015 to 2016, online holiday sales jumped by 11%, while offline ones gained no more than 2%.
Moreover, people tend to prefer saving shopping money for other experiences such as travel. It now makes one-tenth of the country’s gross domestic product, according to Deloitte.
If you want to join the signage industry and invest in a printing franchise, this story is enough to scare you. Will it still be profitable? The answer is yes.
Does Signage Still Work?
Signage advertising has been around for years, and yet, it’s often taken for granted. Others also consider it as dead due to more cost-effective online marketing strategies. But, studies have shown it works.
In a 2012 FedEx survey, more than 70% of the respondents said signs encouraged them to visit stores for the first time. Around 68% claimed they bought a product or paid for a service due to a signage ad.
These signs also encourage word-of-mouth marketing, with 75% saying they have promoted a business using information on a sign.
The Signage Foundation, meanwhile, tried to determine the economic value of an on-premise signage. The results based on data from over 100 Southern California locations of a fast-food restaurant suggested a strong association between the number of signs and increased sales.
A sign boosted the store’s sales by as much as 4.75%, which made it more impactful than the store’s longevity location or working hours.
Signage, therefore, is alive and well. As long as you choose to be creative and innovative, it will continue to evolve to meet client needs.