When it comes to business spending, there are expenses and investments. The former are mandatory costs, such as utilities. You either pay them, or you wind up going out of business (or at least getting the lights turned off). However, the latter represent opportunities to increase your revenues and profits — and that is where retail store front signs enter the story.
Need proof? Here are the statistics that clearly highlight how retail storefront signs affect the bottom line based on research by FedEx and the Economic Center at the University of Cincinnati, respectively.
- 76 percent of people have entered a store for the first time because they were impressed by its retail storefront signs.
- 75 percent of people have recommended a business because of its retail storefront signage.
- 67 percent of people purchased a product or service from a business because the retail storefront signage captured their attention.
- 60 percent of businesses that changed or enhanced their retail storefront signage experienced an increase in sales, number of transactions, and overall profits — with the average increase being 10 percent.
Plus, if you believe that you need to focus most or all of your budget on online advertising because you need to target web-savvy millennials, then think again! Research by omnichannel analytics firm Euclid found that 66 percent of millennials shop in brick-and-mortar retail stores each week.
With the above in mind, here are some key factors for designing high-impact retail storefront signs that get results:
- Clarity: retail storefront signs should be easy to read and grasp in a matter of seconds. Putting too much information or using smaller font sizes can be fatal. Signs should also be installed high enough so that they can be seen by foot and/or vehicle traffic (depending on the location).
- Quality: research by the Economic Center at the University of Cincinnati found that people believe the quality of retail storefront signage indicates the quality of a business itself. In other words, high quality signs indicate a quality-focused business. Conversely, low quality signs send the opposite message.
- Color: choose a noticeable color scheme that aligns with the business’s brand.
- Consistency: retail storefront signage should align with other signs that are part of the mix (such as indoor signage, directional signs, etc.).
- Illumination: if it’s within the budget and permitted by the property manager, then choose illuminated retail storefront signage to get noticed and stand out. There are a variety of options, such as light box signs, cabinet signs, and more.
To learn more about how retail storefront signs can positively affect your business’s bottom line, contact Landmark Signs today. Your consultation with us is free!
