Out Of Home Today is the leading source for news and information on the out of home industry.

- Advertisement -

Reaching Retail – Holiday Shopping and OOH

‘OOH Delivers the Deals this Black Friday’

0 286

 

 

Reaching Retail – Holiday Shopping and OOH

‘OOH Delivers the Deals this Black Friday’

GeekOUTFast Fact Friday     

 

by Anthony (A.J.) Cioffi,
Marketing Coordinator, Geopath

 

 

The holiday season is almost here, and like many Americans, you’re probably beginning to shop for gifts for your friends and family. On the other hand, you may be totally unprepared for holiday shopping (like me) and have started to freak out about what to get your loved ones. No matter where you stand, next week’s Black Friday sales event has always been a major catalyst for shoppers across America.  

However, COVID-19 restrictions may be changing how consumers shop for “door-busters” this year. It’s no secret many shoppers have transitioned to shopping online during Cyber Monday sales, but the situation this year regarding lockdowns and social distancing may exacerbate the decline in shopping at brick-and-mortar locations.  

A forecast from eMarketer is predicting retail ecommerce will jump over 20% this year, while in-store retail sales will drop 5%. The significant increase in online shopping is expected to offset losses to retailers from in-store shoppers, however it doesn’t mean stores will be empty during their sales events. A study done by PwC showed 18% of consumers will shop only in-store, and 30% will shop both online and in store. This same study also showed that 36% of consumers will still continue to do the bulk of their holiday shopping on Black Friday, whether it be in-person, online, or both. Shoppers will still be going to their local mall and favorite stores, but many will also opt to find bargains in the comfort of their own home.  

To provide a solution to cater toward maximizing the sales for both in-person shoppers and online consumers, many retailers are reinventing the ways in which they plan on delivering deals this season. From Walmart, Bed Bath and Beyond, and Dick’s Sporting Goods, to Old Navy, Best Buy, and Macy’s, stores are either extending the sales dates, or combining Black Friday and Cyber Monday sales into a hybrid event. For example, Dick’s Sporting Goods has already released their Black Friday deals online and in-store yesterday (Nov 18th) and will continue these deals through November 28th!  

 

advertisement

 

With these extended sales, retailers shouldn’t have a problem driving consumers to their stores or online in the weeks to come. The demand for new clothes and the latest electronics will always be there, and the only question for retailers is how to distance themselves from their competitors. Television and digital advertising are often channels used by the retail industry, however we at Geopath believe #OOH is perfectly poised to reach their target consumers, especially this year as events will not be for a singular day. As shown in last week’s COVID-19 Mobility report from Geopath and Intermx, average daily miles traveled is currently 92% of the distance traveled prior to COVID restrictions. The consumers that will be shopping both in store and online are still on the roads, and OOH can be the medium to help retailers drive them to their deals. 

Recent data from Simmons supports this as well, with 78% of those that have visited a shopping mall in the last 4 weeks reporting they have noticed OOH in the last 30 days, and 79% of those that report doing more online shopping than ever before saying they have noticed OOH in the last 30 days. These shoppers are 13% and 15% more likely to notice OOH than the total US population, respectively! (Source: Spring 2020 NCHS 6-month)

No matter the category, OOH provides great coverage in markets across the US to deliver impressions to a variety of retail audiences. According to Geopath Insights, the inventory we measure accounts for 8.9 billion impressions for those that shopped for toys at Target in the last 3 months, and 6.7 billion impressions for those that have shopped at GameStop in the past 3 months. This inventory also generates 17 billion impressions for those that have shopped at Macy’s in the last 3 months, and 9.2 billion impressions for those that shopped at Dicks Sporting Goods in the last 3 months. 

Last but not least, the inventory we measure also accounts for 45 billion impressions for “those that like to shower their loved ones with gifts,” so just like millions of other Americans, we hope you and your loved ones stay safe and well shopping for one another this holiday season. 

 

- Advertisement -

- Advertisement -

- Advertisement -

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.