Orlando, FL (June 12, 2019)—Retailers have figured out how to attract customers back to their physical stores and away from the convenience of shopping online—by using experiential AV. As a result, this is a booming vertical for the AV industry. According to AVIXA’s Industry Outlook and Trends Analysis (IOTA) report, the global market for pro AV products and services in retail is forecast to reach $20.3 billion in 2019 and grow at a compound annual growth rate (CAGR) of 5.5 percent through 2023.
To support integrators in taking advantage of this growth, AVIXA has partnered with retail customer experience research firm PSFK and media platform VMSD (Visual Merchandising and Store Design) to provide a number of educational tracks and sessions devoted to retail.
At yesterday’s “Interactive Content and Experiences in Retail,” presented at InfoComm by PSFK, CEO of Perch Interactive Trevor Sumner described the need to find what engages shoppers and what creates sales growth. “There is a real sea change in retail,” he said, which was powered by many forces, including the move to the experience economy to comply with the preferences of millennial and Gen Z shoppers.
Sumner’s session covered the ROI for brands when deploying responsive displays that engage customers and enhance the shopping experience to increase overall sales, offering many examples such as Jo Malone, Johnson & Johnson and Macy’s.
Educational opportunities continue today through Friday, covering topics such as using visualization technologies to increase sales, customizing content for customers, using artificial intelligence and virtual reality to enhance shopping environments, and much more.
There are also a host of products on the floor that can add a wow factor to any retail environment. Examples of technology that is changing the retail landscape can be seen throughout InfoComm, with a heavy concentration in the Digital Signage Pavilion.