The global floor displays market is poised for substantial growth, with a projected value of US$ 2,594.8 million in 2023. The market is expected to maintain a robust compound annual growth rate (CAGR) of 5.4% throughout the forecast period, aiming for a closing value of US$ 4,390.5 million by 2033. Notably, during the historical period from 2018 to 2022, the industry exhibited significant growth with a value CAGR of 4.7%.
Several factors contribute to the positive outlook for the floor displays market. A key driver is the growing demand for innovative merchandising solutions in developed countries such as the USA and Germany. Additionally, the impulsive buying behavior of consumers in supermarkets is boosting the demand for floor displays, serving as a dynamic factor in market growth.
However, it’s essential that floor displays meet a range of requirements, including the prevention of toppling and addressing floor vibrations. This represents a pivotal phase in the expansion of the floor display market. Furthermore, a noteworthy trend boosting market prospects is the increasing demand for customized floor displays in both retail settings and at events. This trend aligns with the evolving needs of retailers and brand marketers looking for distinctive, eye-catching display solutions to engage customers and enhance the in-store shopping experience.
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These developments underscore the significant role that floor displays play in the retail landscape, enhancing product visibility and brand recognition, and facilitating innovative visual merchandising strategies. As the market continues to evolve to meet changing consumer preferences, it is positioned for impressive growth in the coming years.
What are the Factors Propelling the Global Market?
The global floor display market has been experiencing remarkable expansion in recent years, and this growth trend is expected to extend well beyond 2023. In the contemporary landscape of retail stores, supermarkets, and hypermarkets, floor displays have emerged as a highly effective solution for merchandising products. With brands intensifying their marketing efforts to engage consumers effectively, a wide array of display types has surfaced, propelling the market’s expansion.
Floor displays have gained substantial prominence as drivers of impulsive consumer demand, particularly within supermarkets and grocery stores. As brands allocate greater budgets to their marketing departments, especially for the promotion of new products, the need for innovative merchandising solutions has become increasingly evident.
Companies engaged in the production and distribution of consumer goods, spanning various sectors including grocery, food, beverage, electronics, and more, have shown a growing preference for floor displays. These displays have demonstrated remarkable efficacy in enhancing product visibility, contributing to a positive environment for consumers, and facilitating the presentation of new and existing products in an engaging and appealing manner.
In this context, the market for floor displays continues to thrive as a valuable component of marketing strategies in the retail sector, supporting brands in their endeavors to captivate consumer attention and stimulate purchasing decisions. The market’s persistent growth is indicative of the critical role that floor displays play in enhancing the shopping experience and driving sales.
Drivers:
- Enhanced Visibility: Floor displays provide a prominent and eye-catching way to showcase products, enhancing their visibility and attracting customer attention.
- Merchandising: Effective floor displays contribute to visual merchandising strategies, helping retailers effectively present and promote their products.
- Seasonal Promotions: Retailers use floor displays to highlight seasonal and promotional items, which can boost sales during specific periods.
- Brand Recognition: Floor displays play a crucial role in strengthening brand recognition and recall as they offer a dedicated space for branding and messaging.
- Customization: Manufacturers can tailor floor displays to meet specific product and branding requirements, allowing for creative and flexible design options.
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Restraints:
- Space Limitations: Retail floor space can be limited, and crowded stores may not have sufficient room for multiple floor displays, which can limit their effectiveness.
- Cost: Designing, producing, and installing floor displays can be costly, and small businesses may find it challenging to invest in them.
- Maintenance: Floor displays require regular maintenance to keep them looking attractive and functional, adding to operational costs.
- Design and Aesthetics: Poorly designed or unattractive floor displays may not achieve the desired impact and may even deter customers.
- Market Competition: The floor displays market is competitive, with many retailers and brands vying for prime display space in stores.
- Environmental Concerns: The production and disposal of floor displays can have environmental implications, including material waste and energy use, prompting the need for eco-friendly solutions.
Key Players
- Sonoco Products Company
- DS Smith Plc
- Smurfit Kappa Group PLC
- Georgia-Pacific LLC
- WestRock Company
- FFR Merchandising Company
- USA Corrugated Inc.
- Marketing Alliance Group
- Creative Displays Now
- Pratt Industries Inc.
Key Segments Covered
- Type of Materials
- Sales Channel
- Application
- Region
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