Why effective POS has never been more important
A recent Lloyds Bank survey revealed that in light of rising inflation and sluggish wage growth, more than half of UK consumers are feeling under pressure to reduce their spending* and with a Bank of England interest rate rise on the horizon that pressure looks likely to intensify.
With less money to spend and more channels to spend it through, brands and retailers are going to have to work harder and smarter than ever to attract attention to in-store products and persuade consumers to buy them.
Here are some tips for improving yours:
- Create an experienceDespite the pressure on consumer spending, the experience economy is bucking the trend with impressive growth. Digital media and interactive offers are a great way to stand out from the crowd but really smart retailers are looking for creative ways to totally transform their shops (even temporarily) into retail theatres to increase footfall and boost sales.
- Design that shows you’re differentThe design of any POS should be of an appropriate size to the audience you’re trying to attract and the distance you want to attract them from (along the shelf, from the end of the aisle, from outside the store). It should combine eye-catching typography, content and product details in a way that persuades the consumer that they’re getting something different or special.
- Be a consumerThink about POS that works for you, even where the product is unrelated to the one you’re promoting. As retail specialists with a detailed understanding of consumer habits, the Fastrak team can adapt your ideas and concepts into unique POS collateral that will lift your sales.
- Colour considerationsColour is the very first thing a consumer will notice about your POS so give adequate thought to who you’re selling to, the product you’re selling and how you’re trying to sell it. Where possible stick to brand colours for consistency but bear in mind that:
- Blue is the go to colour for many brands because it conveys trust and security. In a busy retail environment that can be great for cutting through the noise. Along with pink it often used to attract more traditional buyers.
- Red is thought to stimulate decision making and increase heart rate and is used extensively in clearance sales.
- Optimistic and positive, yellow is great for attracting younger shoppers and window shoppers which is why you’ll often see it used in window displays.
- Practical considerationsA stand out POS unit needs to be practical for retailers and consumers alike. So for example a sign shouldn’t obscure the product or cause a health and safety issue while a dispenser should be designed to hold the product securely, avoid damage and even minimise the risk of theft. From the consumer’s perspective it needs to communicate the product or offer at a glance.
Innovative, professionally produced POS can reap real financial rewards and this article touches on just some of the things worth thinking about.
Get in touch with us today to find out how we could help you on 01625 439966 or email firstname.lastname@example.org