Out of the box

 
     
 

Alokananda Chakra borty

 
 

Posted online: Tuesday , February 05, 2008 at 0116 hrs IST

 
     
 

One doesn't need to be a rocket scientist to see the benefits to stakeholders. It helps advertisers catch the attention of time-starved-commercial-bludgeoned shopper at the point of sale. Retailers can keep their captive audiences updated on the latent schemes and promos, and get a halo effect in the bargain as they are likely to be seen as modernized and high-tech. If nothing else they can also sell airtime for client advertising to monetize the network. Not to forget that it helps shoppers feel Connected and, above all, empowered.

 
 


Just on the off chance that you are still raking your brains, we are talking about in-store television networks on the lines of Wal-Mart TV, a phenomenon that's fast gaining currency across big retail in India. Though not prodigious by any account-industry estimates put this year-and-a-half-old industry at Rs 50 crore, with eight to 10 major players flaunting 8,000-odd screens across the country-the potential is easy to gauge.

 
 


In 2007, India topped AT Kearney’s annual Global Retail Development Index for the third consecutive year, maintaining its position as the most attractive market for retail investment. At 12 million, India also has one of the largest number of retail outlets in the world. In other words, a prime candidate for precisely this kind of an advertising platform. But remember, "by no means does out-of-home television compete with TV as medium," says Isnan Raian, CEO, Out-of-Home Media, a company which operates in this space. "But it helps build the frequency of TV and other forms of advertising because an increasing number of people spending more time out-of-home especially in retail

 
 


The growth projections are sure to draw more players to retail TV. The Organised retail market in India is expected to more than double in the next three years to touch $30 billion from $14 billion currently, says a recent FICCI-Emst & Young report. The report, Wining With Intelligent Supply Chains, says that organised retail which now accounts for 5% of the $280 billion retail market, will grow to 30% of the total market in the next 10 years.

 
 


But does in-store communication with shoppers actually work? Statistics show that 60-70% of brand purchase decision happens in store, say experts. And moving messages attract 40% more attention than static signage Phew... some more Stats... about 78% of retail television viewers say they find it helpful. And 42% of retail TV....

 
 


http://www.financialexpress.com/news/out-of-the-box/269141/function.pg-connect