New retail has set off new changes. How can LED screen companies show their talents?

In the past two years, the concept of "new retail" has swept across various industries like a prairie fire. As people's living standards continue to improve, people are paying more and more attention to shopping and the experience and feelings of the consumption process. In traditional retail stores, merchants will use posters to promote and market products. With consumers' aesthetic fatigue, the improvement of consumption power and the diversification of brand competition methods, static advertisements can no longer effectively attract consumers' attention. In order to change this situation, many businesses have introduced LED displays to stores and used LED displays to dynamically display products and brand promotions. Stores have also greatly deepened their brand image due to LED displays, and at the same time increased customer flow.

With the introduction of new retail in recent years, new retail will set off a revolution in the retail industry. The retail industry has ushered in the new retail era. What will the arrival of the new retail era mean for LED displays? How can screen companies take advantage of the new retail trend?

New retail will create an incremental market for the LED industry

The concept of "new retail" was first proposed by Jack Ma, chairman of Alibaba's board of directors, at the Alibaba Cloud Conference in 2016. Now this new concept has been widely recognized. It is generally believed in the industry that consumption upgrades have promoted the rise of new retail. Some market analysts predict that new retail will maintain a rapid compound annual growth rate of more than 100% in the next few years, and the overall market size will reach 1.8 trillion yuan in 2022, thus becoming an important driving force for the continued growth of consumption.

For traditional brick-and-mortar retail, build beautiful stores and shopping malls, provide customers with high-quality products, courteous services, environmental space, lighting, decoration, etc., to give customers an experience. However, this scene has been overly "commercialized" for decades. The experience is the same, but it is increasingly less attractive to consumers. Therefore, the creation of scenes using LED large screens as display terminals has begun to be favored by more and more people. In addition, with the development and improvement of small spacing, and the accelerated integration of infrared, VR, AR, 3D, human screen interaction and other technologies, LED display technology can better utilize its natural advantages of seamless splicing and creative styling in the new retail field, and will surely become a veritable darling in the new retail field. As Steve Jobs said, "You always look for technology based on business scenarios." If LED displays want to further develop in the new retail field, they also need to improve their products based on the market's terminal needs.

The future development trend of display screens in the new retail scenario

In the future, terminal display scene innovation under new retail should focus on "planning, interaction, and experience" and graft the scene with more cross-border elements to meet consumers' emotional needs for personalization, sense of design, etc., enrich diversified experiences, and form a new commercial space and atmosphere. The LED screen has become a window to communicate customers' recognition of the value of the mall and products.

First of all, the experience of real-time live broadcast interaction is a realistic way for LED display products to get involved in new retail. In fact, our LED display industry has already begun to use digital interaction to enhance the sense of interaction between the screen and the audience, and has created many successful cases. For example, McDonald's uses real-time data from the Meteorological Bureau on its large LED screen to make weather forecasts based on its own products. Another example is the LED display with AR fitting function, and many "scan" LED large screens for playing games, watching live broadcasts, etc.

Secondly, LED display products with data collection and analysis functions are the most important needs of new retail. Making good use of advanced data technology and accurately targeting audiences can make LED display products more intelligent and humane. In response to this, many manufacturers are now beginning to launch LED display products or solutions with data processing functions, such as installing detection and identification systems on large LED screens. Through detection, accurate crowd portraits can be drawn, and specific data can be obtained through analysis. Some cloud platforms can even calculate the attractiveness of the advertisement to the audience based on the audience's stay time around the LED screen and the average time spent focusing on the advertisement.

From retail to new retail, there is not only the word "new", but also new sales scenarios, new connections between merchants and consumers, and new display technologies bringing innovation. The retail store of the future will no longer be just a store, but like an art gallery, allowing people to enter a multi-dimensional world. What people enjoy is not just shopping, but shopping has become a dual enjoyment of material and spiritual things. "New retail" is a brand new revolution in the retail industry and a great opportunity for the LED display industry. It will usher in a new era of art in the field of new retail displays. With the new retail trend blowing, conventional LED display products can no longer meet people's needs for experience. In the future, only LED display manufacturers that continue to innovate and pay attention to the experience of end customers can truly ride on the new retail trend.