10 ways instore media builds ROI

Retailers are always looking for innovative ways to unlock value within their physical stores. Whether you’re a big box, grocery, or pharmacy retailer, in-store retail media displays empower retailers to drive sales, engage shoppers, and elevate the customer experience. Here’s how.

1. Retail media builds bigger baskets
   As of March 2024, the average basket size across the US retail industry was $96 per shopping trip.1 As for dwell time, what if you could increase each visit to the store by 30% more time?2 That’s what retailers leave on the table by not using in-store retail media displays to engage customers and increase time in store.
2. Get data, data, and more data
   By connecting your in-store touch screen display data to your point-of-sale data, you can glean powerful insights into customer behavior and with it, the effectiveness of your instore display content.
3. Boost customer loyalty using in-store retail media
   Putting touchscreen-enabled screens in your store lets you quickly drive incremental enrollments to your loyalty program. No need to wait until a shopper is at the register to ask them to sign up, use interactive in-store retail media display screens to serve customers in-store promotional offers while they’re shopping.
4. Keep customers in the know
   In-store retail media isn’t always about promotions and data. Educate shoppers by providing informative content about the latest health and wellness trends heading into flu season, or why not suggest healthy recipes to shoppers perusing the diet soda area within your store? There are many in-store opportunities to use informative content to drive additional sales.
5. Give your CPG partners what they want with in-store retail media displays
   70% of CPG marketers say they get better return on ad spend (ROAS) on retail media investments with their retailers compared to other ad platforms offered by their partners.3 Why not drive additional vendor funding from your suppliers by providing a media channel that is more valuable?
6. Save on upfront costs with in-store retail media
   Consider an in-store retail media solution that’s set up as a lease-to-own billing model where your monthly payment is determined by the equipment you select. That way, the up-front costs are incremental and depend upon specialty installation services your implementation may require. Of course, if your organization prefers, you can opt to purchase the equipment outright rather than set up a monthly payment model.
7. Location network data overload concerns are over
   The ideal in-store retail media solution will offer you cellular network options that can address your network capacity needs. Regardless of where you’re located, if you’re within range of a cellular network this can eliminate any additional load on your network or concerns about adding devices to your wireless network.
8. Integrate existing equipment seamlessly
   In many cases, a “controller only” solution can be offered to retrofit pre-existing digital screens in your locations, upgrade and integrate them into our cloud-based content software solution. While your existing screens may lack the touchscreen functionality of the new equipment, you’ll want a solution that can still integrate them.
9. Gain complete content control
   It’s important to select an in-store retail media solution that allows for a variety of control options based on your needs. You’ll want all screens, regardless of how many, to be controlled by a central team at your corporate office. Typically, content is deployed in near real time to any screen individually or all at once. Additionally, local control can usually be given at the region, district, or store-level to allow for more localized control, if desired.
10. Maximize customer insights
    Opting for custom controllers and software can integrate with a variety of traditional systems. Should you require it, consult with your in-store retail media provider for help integrating your content software with your databases to maximize the insights you gain from this in-store retail media solution.  

Source:  RICOH USA