Market Trends of Argentina OOH And DOOH Industry
Digital OOH (LED Screens) to Drive the Market
- Both local and international advertisers are increasingly investing in digital OOH advertising, recognizing the power of high-impact LED screens for brand promotion. This surge in interest is fueling installations of these screens in key urban locations.
- Strategically placed in high-traffic zones, LED screens boast vivid displays that effectively grab public attention, leading to heightened brand recognition and recall. Their prevalence in areas like shopping malls, transportation hubs, and city centers ensures maximum exposure and impact.
- Programmatic advertising, a data-driven approach to ad space buying and selling, is gaining momentum in the DOOH sector. This method enables advertisers to target specific demographics and tweak campaigns in real time, based on performance metrics, thereby boosting campaign efficiency and effectiveness.
- By embracing advanced audience measurement tools, DOOH campaigns are becoming more transparent and accountable. Technologies such as facial recognition and mobile data tracking offer valuable insights into audience demographics, engagement levels, and dwell times, empowering advertisers to fine-tune their campaigns for optimal impact and reach.
- As per Magna, a leading auto parts manufacturer, advertising spending in Argentina is set to surpass ARS 1.8 trillion (USD 2.01 billion) in 2024, up from ARS 1.09 trillion (USD 1.2 billion) the previous year. Fueled by the country's inflation, Argentina is poised to lead as the fastest-growing ad market in Latin America for 2024, closely followed by Uruguay and Mexico.
Understand The Key Trends Shaping This Market
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Retail and Consumer Goods to Drive the Market
- Retail and consumer goods companies are significantly boosting their advertising budgets to amplify brand visibility. This uptick in spending is fueling the demand for OOH (Out-of-Home) and DOOH (Digital Out-of-Home) advertising, known for their high visibility and effective customer engagement.
- For instance, data from Admetricks reveals that in June 2024, supermarkets and minimarkets dominated digital advertising in Argentina, accounting for about 10.7%. Finance and banks secured the second spot, with a share of nearly 4%, closely followed by online stores at 3.6%.
- The adoption of cutting-edge technologies like QR codes, NFC, and interactive displays in DOOH advertising is gaining momentum. These innovations create seamless and captivating customer experiences, enabling direct interactions with ads and providing access to additional information or promotions via smartphones.
- Retailers are strategically situating OOH and DOOH ads in high-traffic areas, like near retail outlets, shopping hubs, and bustling commercial zones. This strategic placement ensures heightened visibility and engagement, ultimately driving foot traffic and sales. Notably, leading retail chains leverage LED screens and digital billboards for new product launches and seasonal sales, further boosting foot traffic and revenue.
- Retailers are increasingly leveraging OOH and DOOH ads for promotions and seasonal sales. These initiatives heighten consumer awareness, creating a sense of urgency that translates into increased footfall and sales. Particularly during peak shopping events like Black Friday and the holiday season, retailers ramp up OOH and DOOH campaigns to entice shoppers and bolster sales.
