Outdoor banks on retail during lean period
This monsoon, out of home players look at using assets in the retail space as an effective alternative
People might think that the torrential rains would create havoc and dampen the Out Of Home business. But surprise, surprise…OOH players have planned well in advance and are looking at the monsoon season with positivity and hope.
OOH players are looking at smarter out of home media options and are banking heavily on the retail space. This has been welcomed by advertisers as well with retail space garnering a lot of attention lately. Many brands are seen experimenting with on-ground and ambient advertising.
Commenting on the opportunities in retail advertising, Haresh Nayak, Managing Director at Posterscope said, “We are having a great monsoon this year. We had planned for the same six months in advance. Our billings during monsoon will be over Rs 25 crore and is a big proof of our successful planning.”
“As a group, we have invested in ambient OOH – a unit clearly focused on captive audience domain. It is supported by a team of eight people clearly focusing on the creative and technical aspects; the operational support will be provided by our retail arm Hyperspace. The approach has given us huge depth and insight into the 20 per cent market of OOH that is captive and can give us measurable results and RoI in OOH,” he added.
Facades and show windows, displays and shop-in-shops will continue to be the most used outdoor assets of retail media. Media space in multiplex and cinema halls is another medium that outdoor agencies are suggesting advertisers as it is one the popular spot to connect for family brands.
A critical factor in driving advertising in retail space has been the ever-increasing spending power of youth in places such as coffee shops, quick service restaurants and music stores. These formats have been of keen interest to attract youth-oriented brands that seek to connect with the target groups frequenting these spaces.
According to Atul Shrivastava, Chief Operating Officer, Laqshya Media, “Proverbial monsoon slowdown is not as bad these days. It just marks the end of Q2 and start of the second half of the year. Therefore, it is an important time period. You’ve the efforts of Q1 providing the sustenance, while maintenance nightmare is already over with summer. All over the country, summer season has the trend of dust storms and speedy winds, which poses challenges on the maintenance front. Monsoon is better on that count.”
Categories that have shown interest in using retail media are cellular service providers, handset manufacturers, lifestyle, personal care and FMCG, BFSI and automobiles. Advertising in retail has been widely used by advertisers to promote new product launches and offers and to some extent for imagery by personal care and lifestyle brands, especially through use of facades.
It is observed that advertisers, retail media owners and vendors still struggle to classify the medium. While some treat it as OOH for its offerings of facades and show windows, others view it as a part of terms-of-trade. Investment decisions are therefore largely perception-based rather than based on data and logic, with very little focus on the consumer’s interaction with the brand. But with a stroke of innovation, OOH agencies are using the retail space as a part of the OOH media plan very effectively.
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