Wraps and graphics are an increasingly popular (and profitable) vehicle marketing product. Today’s post reviews industry research highlighting the value of this sign shop revenue stream in 2020 and beyond.
Wraps And Graphics: The Most Cost-effective Advertising Medium For Businesses
The effectiveness of wraps and graphics for business advertising and branding is undeniable. In one study by the American Trucking Association, 96% of respondents reported noticing truck-side ads; a similar report by Perception Research concluded that mobile vehicle advertising attracts 2.5 times more attention than static billboards.
But new research by 3M shows that vehicle wraps and graphics outperform all other advertising assets in terms of cost-effectiveness. Whereas television advertisements cost users $23.70 per thousand impressions, fleet graphics expenses were measured at only $0.48. That makes them nearly 50-times more cost-effective than television advertisements.
Consumers are becoming increasingly aware of the tremendous value wraps and graphics provide, which makes them a no-brainer for sign shops looking to distinguish themselves from the competition via catalog.
What The Demand For Wraps And Graphics Is Only Increasing
Likely driven by the growing awareness of the cost-effectiveness of vehicle marketing, ISA researchers reported increasing demand for the foreseeable future:
- Record amounts of custom wraps and graphics get printed each year. Although many segments of the large format printing industry have matured, the wrap and graphics segment continues to grow year-after-year. This demand is represented in terms of printing volume: according to the ISA, the volume of popular wrap applications (including vehicle graphics, as well as wall coverings and window graphics) is expected to reach nearly 126-million square meters by 2023.
- Wrap and graphic revenues increased in 2019. In a meta-analysis of published studies, ISA researchers determined that the global automotive wrap film market was valued at $3.5 billion in 2019. And though all industries slowed amidst the COVID-19 pandemic, wrap and graphics shops benefitted from their “essential business” designation, which helped us stay profitable and positioned us for strong post-pandemic recovery.
- The wrap and graphics industry will continue to grow for the foreseeable future. ISA researchers project that the wrap and graphics industry will achieve a compound annual growth rate of 22.5% through 2027.
Expanding Your Catalog (Or Starting A Sign Shop) Is Easy
Whether you’re looking to expand your current sign shop catalog or start a wraps and graphics shop from scratch, the SignWorld Business Alliance can help.
Our beginner-friendly business opportunity includes all the training, support, supplies, and vendor connections you need to build a profitable business, with no experience required. Signworld partners get access to premium wrap and graphic products at wholesale prices, and we help you choose a business territory with robust demand.
You can learn more about our opportunity by visiting the Signworld Business Alliance website or calling 888-765-7446 to book a free consultation with our team.Back