How does the print based media industry recover from the current economic climate?
Ivybridge, Devon, UK, May 18, 2009 — For many companies media sales are not performing to target whether it be newspapers or magazines. Large media organisations have seen lost sales as consumers are tempted into other media areas. Multimedia in particular through television, radio, and the internet continues to deliver a new and exciting media format, readily available. Luminati, the acrylic fabrication company, has launched many new multimedia displays and are continually developing bespoke display solutions such as dump bins and other display units to meet the needs of customers looking for new and innovative ways of presenting media.
Many people in the media industry see a traditional media decline as inevitable. However, Luminati strongly believe media companies can continue to deliver sales by taking a fresh approach across retail store environments. If you look across the majority of retail stores printed media such as newspapers and magazines are generally only available in the ‘News & Mags’ area. Why are they seeing a decline? One key reason is that only a small percentage of shoppers on any given shopping trip enter the news & mags area. This has been stated as low as 10%. 90% of shoppers do not enter the News & Mags area on a type shopping trip. Hence why many savvy retailers put newspaper dump bins and brochure holders by the store entrance or even outside the store.
What do other categories do? Retailers and brands work together to target customers by organising product to meet or even encourage shopper logic. For many categories retailers have created new ways of driving sales such as Asda with ‘big night in’, where drinks, confectionery and dvd’s are merchandised together. Category positioning is key. What’s also key for particular categories is their ability to pick up on the impulsive nature of customers.
Print media is high on the list of impulsive products. Other impulsive categories drive sales by targeting secondary display units such as gum on aisle ends displays and checkouts, batteries on gondola displays and aisle ends, financial services in multiple display locations and so on. When these products were taken off many retailers checkouts these new in-store positions were there to regain, maintain or drive sales. What have newspapers and magazine companies done?
Well they can certainly do a lot more.
2 tier and 3 tier acrylic displays, brochure holders, dump bins and other display units, are often seen as the vehicle merchandising media but in the majority of cases this is in the location of the News & Mags area.
The answer for media companies is to provide merchandising displays to attract and encourage product pick up from customers where they shop, in locations to drive impulsive sales and regain consumer habits for printed media. If media companies do nothing, nothing will change.
For further information about product display units see http://www.mediastands.co.uk.
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contact :
Steve Senior
Luminati Waycon Limited
Lower Unit 1
Redlake Industrial Estate
Ivybridge, Devon PL21 0EZ
0175-2698-116
[email protected]
http://www.luminati.co.uk
