Will all of them stop? Probably not, but a great number of them will. What you have to understand is that we live in a very mobile society. People are moving around and constantly on the go. The best way to capture their attention is at the very moment they are passing by your business. If you serve the best burgers in town, put that on your sidewalk sign. When people see that, they will want to try those burgers out.
If you do the best hair in town, put that on your sign. People always want to look good. So if they see that on your sign they will want to call and make an appointment. The key is to not only advertise your business but to also give potential customers a deal they can't resist. So if you have a beauty salon you can offer 50% off to any new customers that come in because of that sign. If you are good, they will start to tell their friends and before you know it, you will have a huge client base.
People love good deals. So it doesn't matter if you run a burger joint or a hardware store. If you give people a good deal, they will take advantage of it.
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Source: http://hmiller.articlealley.com/sidewalk-signs-work-great-for-new-small-businesses-1324489.html