Electronic Shelf Labels Conquer Over Retail
New technologies make it possible to create efficient services and open up promising business opportunities. The correctness of the price online and offline is an important factor that customers pay attention to during purchase. The price management process has become much easier thanks to the introduction of intelligent price tags.
Smart Labels are a fast, simple, and cost-effective way to manage prices in retail stores, they display product functions to facilitate customer access, promote products and services, and much other useful information. Digital labeling eliminates all the problems associated with the usual price tags that we are used to seeing on store shelves.
The global market is gradually realizing the need for automated price management. The process of changing prices is now quite laborious and includes requests for pricing from the head office, printing price tags, and placing them correctly. A large number of preparatory steps in implementing a price change means that there is a greater likelihood that something might go wrong in the pricing campaign.
Fast updating of prices is one of the most important advantages of price tags, the electronic display of which is an excellent solution for businesses that offer their goods not only on the Internet but also in offline stores. Electronic shelf labels allow you to quickly, accurately, and consistently change prices and promotion strategies, making them profitable for brands with multiple stores in different locations. The data is centrally managed from a PC and can be monitored throughout the country and in all branches.
Smart price tags are not only about displaying the prices of goods. They are also a guide to help shoppers decide which product to buy. An electronic display can show more information than just the price. For example, when shoppers in a supermarket want to know the difference between two brands of shampoo, they can check the additional information that is shown on the display. For example, you can find information about the composition, delivery, and remaining stock. The more information the buyer has, the more balanced his buying decision will be.
The automated system allows you to coordinate and forecast demand, reduce shortages, improve delivery, which leads to an increase in the number of satisfied customers.
Also, if your store is running low on a product, you can display QR codes on the price display. After shoppers scan your store's QR code, they will go to your website to order the missing items online.
The main advantage of a digital price tag is the ability to use dynamic pricing (the ability to set flexible prices based on current market requirements). It will help you follow market trends, increase your sales and stay ahead of the competition.
With automated price management, you can update your product prices in an instant and devote more time to serving customers - in the long run, you will see reduced labor and material costs. Electronic price tags help to provide current discounts and promotional offers to their customers at any time. Such events can be held within one day. Also, customers always see new information about the product, this avoids conflicts that arise when employees forget to change the price. This will allow them to significantly excel in competition and increase consumer loyalty.
Despite the clear benefits, some factors limit the proliferation of electronic shelf labels. You might think that using paper labels is a lot cheaper, but it's worth reconsidering this belief. Paper labels are expensive in ink, printing equipment, and too much time. The payback period for electronic price tags can be quite long, you won't be able to see the real benefits right away. This is the factor that can scare off a business. Despite this, the number of stores that are implementing the new system is only growing.
We live in a digital age where customers use many channels to find products. Retailers must use a variety of communication methods to serve customers (physical stores, websites, and mobile apps). It is imperative to ensure that customers can get to know the necessary and up-to-date information about your products in time.
Electronic shelf labels display product information that is important to customers. They can be automatically updated across multiple channels. Through the local network, electronic price tags are updated when necessary. Unlike paper labels, which have to be manually changed by store employees on each shelf, electronic price tags can significantly save time.