Importance of Advertising in the retail market
Importance of Advertising in the retail market
Advertising is persuasion, and persuasion is not a science, but an art. Advertising is the art of persuasion! It is nothing but making people aware of your product or service and influencing their actions to your advantage. Advertising is not limited to one form or one particular media but it inculcates all the media’s together namely Print, Television, Radio, Outdoor, Transit, Broadcast, Guerilla and lots more! Out of which, some of them can be very effectively utilized in the retail sector. The retail market includes all the shops that sell goods to the ultimate customer, who in turn purchases them for their personal use. It encompasses all kinds of shops, from kiosks and small groceries to supermarket chains and large department stores.
India Retail Report 2013 – Image group
There is a subtle connection between the retail market and advertising, not only advertising has a huge role to play but also, it can make or break the game for the brands! The retail sector provides a clear platform for the brands to advertise their products, highlight the USP’s and influence a consumer into buying it.
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As shown in the above picture, 3 out of 4 scenarios involve the customers going to the stores and making their decision. Hence, retail stores act as very important decision influencers. The major points wherein the importance of advertising in the retail sector can be highlighted are described below –
- Generates store traffic – The posters or signage’s outside the stores are colorful, attractive and fun to look at and so they attract the customers to the store. They act as a catalyst in bringing the customers to the store; hence effectively generating the lead.
- Giving the final push – A consumer may change their mindset at any given point due to presence of a multitude of brands but when the consumer looks at the advertisement of the product in the form of a kiosk or a stand inside of a retail store, it acts as a final push which leads to the purchase of the product.
- Promotions and events – The consumer get attracted to the various promotions and discounts being advertised about in the retail stores, which may be in the form of announcements, posters or via lucky draws and coupons.
- Gets the brand close to the people – When people are in the store, and they experience the first-hand advertisement of a product and at the same time they can feel the product physically, this entire experience builds a connection between the brand and the people. It generates a positive outcome.
Retail market need not be a physical one, in fact, we live in a digital age and with the E-Commerce thriving, there are many digital retail stores namely Amazon, Flipkart etc. There are different ways of advertising online and advertising plays a very important role in the digital platform as well. It not only engages the consumers but also helps build a long-term relationship.
While advertising in the retail market, advertisers need to embrace the local culture, know the local people and create adverts that connect to them on a personal level. This can act as a bonus while advertising in the retail market. This market acts as the common ground of connection between the brand and the people.
Hence, advertising is the key to get your products sold, once you master the art of advertising, no product/service in any of the given markets can be left unsold!
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