Implications for Retail Adoption of Digital Signage Systems
Publication Price: $250.00
Researcher's: Steven Keith Platt, Platt Retail Institute, Dr. Kingshuck K. Sinha, University of Minnesota and Research Fellow, Platt Retail Institute, Dr. Barton A. Weitz, University of Florida, with Pat Hellberg, Nike, Inc, GV Iyer, Bank of America, and Margot Myers, U.S. Postal Service
Abstract: Digital signage systems are rapidly being adopted by some of the largest retailers in the world, including Tesco, Target, the United States Postal Service and the Bank of America. The rationale for implementing this emerging technology includes the impact upon the customer shopping experience and the related financial implications for a retailer. This Working Paper explores the decision matrix supporting retailer adoption of digital signage systems, reviews the considerations required for an implementation, and advances a framework for assessing a retail digital signage (“RDS”) system. This is significant for the following reasons: 1. the cost associated with implementing an RDS system can be substantial. 2. the failure to adopt an RDS system may place a retailer at a competitive disadvantage. 3. the benefits to be derived from RDS can be considerable.
Establishing Retail Digital Signage as a New Medium and Measuring its Effectiveness
Publication Price: $750.00
Researchers: Steven Keith Platt, Platt Retail Institute, Francis J. Mulhern, Associate Dean, Department of Integrated Marketing Communications, Northwestern University, and Guy Vaughan, Director, Retail Marketing Services and Director, POPAI UK/Ireland and Head of Research.
Abstract: This Working Paper addresses whether RDS is capable of having a measurable impact upon consumer shopping behavior to substantiate its inclusion in the marketing mix. This is significant for the following reasons: 1. Measurement of the results from marketing spending have generally failed to keep pace with technology and, 2. because consumer purchase decisions are, to a significant extent, made in-store.
Leveraging the Impact of Retail Digital Signage Advertising Through Behavioral Merchandising
Publication Price: $500.00
Researchers: Steven Keith Platt, Director and Research Fellow, Platt Retail Institute, John Greening, Associate Professor, Northwestern University, and Bill Pennell, Mediawide UK Ltd. and formerly of Tesco Media Services.
Abstract: This Working Paper details the benefits associated with Retail Digital Signage (“RDS”), and introduces the theory of Behavioral Merchandising (“BEM”). RDS’s attributes as a new medium due to its ability to mass customize messages, as well as measure advertising effectiveness, is addressed. Due to the characteristics of RDS, the medium is also uniquely capable of building customer relationships by facilitating retailer and/or brand differentiation, which requires a closed-loop, intelligent content systemization. Toward that end, this Working Paper details the theory of BEM. BEM is defined as the methodology for predicating and influencing consumer purchase behavior in-store by messages delivered via a digital signage system. The objective of BEM is to stimulate the consumer buying process by mass-customization of targeted messages. The output is an organized development of content strategy.
Deployment and Test of a Retail Digital Communications Network by the United States Postal Service
Publication Price: $1000.00
Researchers: Steven Keith Platt, Platt Retail Institute, Dr. Kamel Jedidi, Columbia University Graduate School of Business, and Margot Myers, United States Postal Service.
Abstract: Issues surrounding retail digital communication networks ("DCN") revolve around strategy, deployment, and measurement. Prior research in this area has focused upon these issues, but has been limited in terms of correlating strategy with measurement over extended test duration. While such prior research has yielded valuable insights, it has been inhibited in terms of the size and scope of the underlying data sets. This Working Paper contributes to the study of retail DCN in various ways. First, it is the most extensive report of a major DCN field test published to-date. Second, it provides intricate knowledge into the testing methodologies applied and the results achieved therefrom. Third, it demonstrates how various analytic models are integrated and interpreted relative to a stated strategy. Finally, it draws implications from this research for wider retail industry application.
Impacting the Customer Experience at a Bank Branch Through a Digital Communications Network
Publication Price: $1,000.00
Abstract: In this Working Paper, we detail the attributes of a branch DCN. The significance of the branch and the importance of enhancing the customer experience therein is also addressed. In addition, we delineate the major benefits to be derived from a branch DCN. Finally, concepts relative to measuring the effectiveness of a bank DCN are advanced. This Working Paper contributes to the study of implementing a DCN in a bank branch in the following ways:
1. The positive impact on the customer branch experience resulting from a DCN is detailed.
2. We demonstrate that banks tend to under-invest in consumer facing information technologies. Further, we illustrate that banks overspend on traditional forms of mass advertising. As a result, we advance that banks should redirect capital into branch DCNs.
3. We detail the significant benefits that can be realized by a bank from the deployment of a DCN.
Test Results From a Bank Branch Digital Communicatons Network
Publication Price: $1000.00
Abstract: In this Working Paper PRI tested and analyzed the impact on consumer attitudes and behavior resulting from exposure to a DCN. The objective is to provide detailed analytics relating to consumer response to a DCN delivered message stimulus. This was accomplished by gauging impact and awareness, benchmarking the customer bank branch experience, measuring the influence on branch productivity, and track changes in select product/service revenue/transactional activity.
The underlying research is the most detailed ever conducted to measure the consumer response to a digital communication network. The test lasted 90 days and involved ten bank branches; 5 Test, 5 Control. It included two separate waves of exit interviews involving 750 individuals. 38 Digital cameras were installed in the branches, and recorded 17,000 hours of video analyzing the behavior of 85,000 customers. In addition, the test bank provided an extensive amount of primary data.