Market Trends of Printed Signage Industry
The Retail Sector Expected to Grow at a Significant Rate
- Retail signage can include anything from posters, banners, and backdrops to pop-up displays and graphics. Signage has always been critical in instantly communicating messages to viewers, creating an atmosphere and emotion that delivers on a brand promise and signposts key organizational messages.
- With the retail industry focusing on expanding and investing considerably in advertising and marketing, the printed signage market is expected to grow further. The retail sector is growing exponentially, aided by the development of e-commerce; however, the brick-and-mortar industry still commands a significant market share, but the growth of e-commerce is comparatively fast-paced.
- Printed signage for retail stores varies in form and size based on location and intention. Still, the primary motive for all, whether an expansive banner or a billboard, is to drive foot traffic and communicate with potential customers. These are placed on the storefront, banners, barricades, and every place of the retail store, and hence are a vital part of the retail business.
- Retail vendors, including brick-and-mortar and e-commerce vendors, are increasingly spending on advertising. This is expected to command a significant share of the printed signage spending. There are various types of retail signage, such as exterior retail signage and interior retail signage. Interior retail signage is focused on getting a customer to make a purchase, primarily to direct customers to specific locations in the store for sales, high-volume items, dressing rooms, or even restrooms. Exterior retail signage is considered an essential kind of retail signage to create an engaging, up-to-date, and fresh invitation.
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Asia-Pacific to Hold Significant Market Share
- Asia-Pacific is witnessing innovations that broaden the selection of signage printers with advanced and sophisticated designs for businesses. Printed signage is becoming a more popular medium for more people in China due to the country's increasing urbanization. The sector has emerged as the channel that enables companies to consistently and quickly reach a large audience in China as people spend more and more time outside their homes and workplaces.
- Further road signs and spray-painted posts were China's two primary forms of signage advertising. As targeting technology advances, brands can reach their target Chinese demographic more engagingly and contextually with appropriate messaging.
- The top advertisers in print signage advertising in India include companies in the fintech, e-commerce, OTT, real estate, and hyperlocal services sectors. Automobiles, mobile phones, consumer durables, IPL teams, and tech companies are other businesses keeping a close eye on this space. Other factors driving the sector's growth are increased consolidation among media owners and higher adoption of printed OOH's relatively premium properties.
- From sourcing to manufacturing and end product development, the Indian Sign Industry has adapted fervently to the changing times and demands. Technological developments have played a crucial role in causing this transformation, as well as factors like the growing retail and infrastructure industry, the increasing need for advertising, and a growing number of MNCs in India that further boost the signage industry.
- The number of manufacturing units in the country has shot up, and R&D has taken center stage in most company agendas. Secondly, the government concurs with Indian companies in encouraging domestic manufacturing by providing subsidies and tax rebates.
- Moreover, the pandemic pushed the industry's reset button and sparked investments in technology-driven signage media measurement. Significant technological investments have been made in delivering experiential communication, distinguishing OOH from other media, such as large-format outdoor advertisements.
- Government initiatives drive the printed signage market in various regions, helping businesses connect with customers. For instance, the Brihanmumbai Municipal Corporation (BMC) made it mandatory for shops to use signage boards with regional languages to create an inflow of business opportunities for the signage industry in India. With the Media Expo's return after two years, the financial capital will be the ideal meeting point to identify innovative and cost-effective signage solutions.
- Various regional vendors are increasingly focusing on soft signage applications catering to advertisements. For instance, Softjet Grand, the 3.2-meter-wide printer, is an industrial smooth signage printer that combines digital advantages and has been efficiently optimized to replace PVC-based media. It also quickly prints on recyclable polyester-based fabrics and employs environmentally friendly aqueous inks. Softjet Grand is ideal for various soft signage applications, including banners, displays, wall decorations, signage, parasols, flags, backdrops, and outdoor advertisements.
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