Currently in the UK there are millions of square metres of advertising space that that is not currently being used by retailers, you ask where?......... their shop shutters. We have recently done an estimate for Lloyds Pharmacy and an estimated 42% of vehicle and pedestrian traffic pass their premises when they are in fact closed. This was calculated using the chart from the London Annual Traffic report which shows the peaks and troughs of all traffic on a given day, and comparing it to the opening times of a random sample of Lloyds Pharmacy retail outlets.
Currently 48-sheet billboards are charged out at £200 per fortnight for the absolutely cheapest site you can find if you would take it for a year. The displays are 18m2 in size, and that equates to £266 / m2 / year.
We estimated they the average stores frontage is about 8m2, Lloyds Pharmacy have 1600 stores, so this equates to 12,800m2 of advertising space. When multiplying this by the cost of outdoor media calculated above, and taking into consideration that 42% of traffic sees Lloyds Pharmacy's shutters, the are sitting on
£1.43m pounds (annual) worth of unused, eye-level, large scale media space (£266 x 12,800 m2 x 42%) and this is a conservative estimate.
Streetskins is undoubtedly a no brainer in terms of utilising dead space on the high street. Hopefuelly these metrics will help marketing departments understand how better use of the budgets can create exceptional value.
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