The corrected release reads:
DEVELOPING INDUSTRY STANDARDS AND MEASUREMENTS MAY HELP RAISE THE DIGITAL SIGNAGE PROFILE AMONG MEDIA PLANNERS
The booming retail industry is witnessing new positioning strategies among retailers. Realizing the futility of competing on price, retailers are looking at alternate means to differentiate themselves.
Consequently, there is a renewed emphasis on providing customers with better in-store experience. By delivering relevant messages using compelling content and reducing perceived wait time at checkout counters, digital signage promises to enhance customer experience.
New analysis from Frost & Sullivan (www.it.frost.com), North American Digital Signage Markets, reveals that digital signage advertising revenue totaled $102.5 million in 2004.
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"Point of purchase has always been the last mile of marketing. Advertisers' waning confidence in mass media along with declining prices and advances in technology are fueling the digital signage industry's growth today," says Frost & Sullivan Industry Analyst Vineeta Kommineni.
The subject of signage content however remains a pressing issue. "Digital signage is a `marketing by glance' medium and dictates that the messages be brief with minimal audio as to be non-disruptive to both customer and employee," points out Kommineni. Not unlike the online advertising industry in its early stages, the digital signage industry currently has a glut of ad specifications based on factors such as display size, aspect ratio, and presence of sound, which can baffle media planners.
As the medium continues to grow, the future of digital signage hinges on the emergence of a new discipline related to creating content tailored for the medium. Studies analyzing store traffic flow, time spent in the store, time spent in each zone of the store, and customer linger points need to be correlated to determine placement of display, length and nature of message.
In addition, agencies are cautious in evaluating the role of digital signage in the media mix. Being a fledgling channel, digital signage lacks measurements and buying standards and the medium is considered "unaudited." Hence, media buyers perceive digital signage to be more complicated than the routine of TV, radio or magazine buys to which they are accustomed.
In the medium term, an industry association such as the Interactive Advertising Bureau in the context of digital signage may set the stage for developing standards and guidelines. Development of a currency to trade in digital signage will spur media planners to alter their spending and embrace the medium.
The entry of media conglomerates such as Clear Channel, Viacom, ABC Networks, Liberty Media amongst others bodes well for the industry. "Such conglomerates not only have the access to capital resources to fund a large scale network, but also the advantage of selling ads on digital signage networks as part of a bigger package comprising other media slots," notes Kommineni.
North American Digital Signage Markets, part of the Kiosks subscription, analyzes the drivers and challenges and sizes and forecasts the digital signage markets. In addition the study scrutinizes pricing trends and identifies market leaders, challengers, contenders and emerging participants in each of the digital signage advertising, display, and software markets.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.
North American Digital Signage Markets
Keywords in this release: digital signage, North America, digital signage content, event based exposure, media, mass media, advertising, branding, sales promotion, media planners, media mix, point of purchase, radio frequency identification device, RFID, research, information, market, trends, technology, service, forecast, market share.