New research conducted by Roy Morgan shows when it comes to shopping, everything old is new again. Despite media coverage about the rise of online shopping and predictions on the death of 'bricks and mortar', retailers in Australia are finding the humble print catalogue is one of the best promotional tools around.
Universal popularity of print cataloguesMore than 70% of Australian shoppers aged 14 and over stated a preference for printed catalogues over online browsing. The appeal for catalogues is universal – 66% of the digital-savvy 24-35 demographic admitted to thumbing through a paper catalogue.
A recent article in Retail Insider gives further insight into the big business behind print catalogues.
"The catalogue industry employs more than 120,000 people directly, with Australian retailers spending $1.5 billion annually on producing catalogues, representing approximately 60 per cent of their advertising spend."
Despite having online shopping technology at the fingertip, consumers enjoy having the shopping experience brought into the home. The best evidence of this is the huge media campaign announcing the annual IKEA catalogue which is mass delivered throughout Australia.
Ticketing challengesEdward Breese, CEO of SignIQ, believes the popularity of print catalogues is great news for retailers.
"We know many retailers use print catalogues as an effective sales promotion throughout the year. Harvey Norman is a great example of a retailer doing good things with print catalogues," explains Breese.
"Terry White Chemist has a totally different product line but they also find value in print catalogues."
While national or state-wide distribution of catalogues can be great for sales, it can also present headaches for retailers. Breese goes on to discuss the challenge the Australian retail industry faces with printed advertising.
"If the industry is spending $1.5 billion on print catalogues, the price better be right on the shelf.
"The ACCC is taking a tough stance on misleading promotions. You can't advertise one price in a catalogue and have a different price in your store," says Breese.
"That's why it's more important than ever to have your promotional signage and ticketing managed by the marketing department."
What this means for retailersConsumers may be moving to online purchasing but they still enjoying leafing through catalogues as part of their decision making process. While retailers continue to invest significant amounts of money producing print catalogues, it's essential to maintain pricing compliance across all mediums – print, online and in-store. The only way this can be accomplished is when the marketing department is controlling the promotional signage and ticketing function.
For more information about an outsourced ticketing service, contact SignIQ. We help retailers meet multiple compliance issues at head office while giving store managers the freedom they need for each individual store.