90% industry professionals believe retail display technology
can increase retail spending
Slough, 11 February 2010 - LG Electronics (LG), a global leader and technology innovator in electronics, has uncovered a major interest in digital signage as one of the catalysts helping to lift the retail industry out of recession, according to a recent poll.
As part of its participation in ISE 2010 – Europe’s No 1 exhibition for professional AV and electronic systems integration – LG conducted a survey amongst a sample of the visitors at the show to explore views on digital signage developments and their likely impact on town centres and the retail environment in particular. Some 79% of those polled believed digital display technologies will be very important or vital to revitalising the high street in the year ahead.
LG’s Future of the High Street survey revealed support from 32% respondents for the resurgence of town centres, with most believing it will be driven by retailers finding new ways to deliver better customer service. They also believe customers will choose service over convenience. A smaller but significant 17% believed town centres will increasingly become social hubs, driven by ‘lively and imaginative displays’ that attract good business.
Recent developments in simple, cost-effective and powerful digital display solutions packages were seen by 81% as being able to improve customer service (if used appropriately) and over 90% believe that digital signage can actually increase retail spending – which has strong implications for SME retailers looking for innovative yet affordable routes out of the downturn.
While the survey confirmed strong support for digital signage in the retail sector, the respondents did believe that some of the perceived barriers for adoption included concerns over the creation of content, no clear understanding of the return of investment, and the difficulty of incorporating new systems into their existing IT infrastructure (all at 16% each).
“These figures underscore widespread belief in the power and impact of digital signage in the high street,” says Luc Grare, director of LG Business Solutions for Europe. “They also confirm what we have thought for some time – that in a tough retail environment, digital technology that can inform, advise and entertain their customers is going to give that retailer a competitive edge,” he adds. Grare went on to explain the significance of these findings for SMBs, which make up over a third of the European digital signage market.
“These smaller retailers need the same quality, reliability and ease of use from their displays as larger organisations but at lower costs. LG’s long understanding of this market is behind the development of the simple, powerful and cost effective display tools we have introduced,” says Grare, whose Business Services division was behind the launch of LG’s SuperSign total digital signage solution at ISE 2010.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 84,000 people working in 115 operations including 84 subsidiaries around the world. With 2008 global sales of $44.7 billion, LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both A Global Partner of Formula 1™ and A Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mo bile phone and data processor of this global sporting event. For more information, please visit www.lg.com or www.lgblog.co.uk
About LG Business Solutions Company
The LG Electronics Business Solutions Company is a leading business-to-business (B2B) infotainment company, developing a broad range of top-class digital devices and solutions including LCD monitors, commercial displays, car infotainment and security systems. LG anticipates future business trends and provides unique devices and services that offer smart and reliable solutions to meet the needs of business partners and customers. With 2008 global sales of $4.3 billion, the Business Solutions Company is poised for continuing rapid growth.
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