The retail market is a huge industry with the most innovative ideas for improving business!
Currently, an interesting change has hit the retail industry, i.e., the Electronic Shelf Labels. These labels are simply the electronic version of the price tags. These price tags work using e-paper and e-ink to display the information on the computer screen. ESLs are connected to the computer database of the operator.
These price tags can be easily updated with the local network whenever required. A few clicks from the remote server are enough to automatically update thousands of displays across various channels. There is no requirement for manual labor for changing the paper labels on the products.
Features Of Electronic Shelf Labels
Every retail business slowly understands the need to have an automated price tag management system. The growth of ESLs is not just practical for price display but is also because of the following features.
- Exact Pricing Across All Channels
This electronic technology ensures that every product’s prices and other essential details are the same on every available platform.
- Improves Omni Channel Presence Of The Business
The experts at SES-imagotag suggest using electronic shelf labels as it makes it easy to manage an omnichannel without much stress. This technology helps businesses to connect with their customers in every possible way.
- Dynamic Pricing
ESL implements dynamic pricing that enables the retailers to stay in profit despite any price fluctuation. It allows change in prices for several factors, including – rising demand or low inventory, matching competitors’ prices, or ultimately selling perishable items before expiration.
- ESL Is Not Just A Price Tag
Electronic Shelf Labels are not just for placing the prices on the products but also provide accurate item descriptions to the customers. The detailed description of items helps confused customers to make their decisions wisely.
- Effortless Shopping Experience For Customers
If any particular product is not in stock, then customers can quickly scan the QR code of the product and get those items delivered to them.
- Reduces The Cost Of Operation
ESL reduces operational costs in many ways. The cost of paper labels, ink, printing equipment, and especially the workforce is significantly reduced with electronic shelf labels.
- Earn Loyal Customers
It reflects the competitors’ prices, enables simple ordering with QR code, reviews the products, and displays the stock levels. All these factors help the retailers to earn many loyal customers.
The alert feature of this technology reduces the unnecessary hustle of storage and handling of the products. It directly notifies the store manager and delivery person about the shortage of the product to minimize the work in between.
- Reduces Labor Cost
ESL manages the inventory optimization, which helps the retailers to save the cost of manual labor and improves the experience in their product delivery service.
All these factors reflect that electronic shelf labels are the future for the retail industry. It is helpful in every way possible for retail business owners in managing their large-scale businesses. Moreover, it is essential for business owners to carefully choose Electronic Shelf Label providers to avoid any glitches in the internal server.
Hopefully, now you understand the importance of ESL in the retail industry. If you, too, are planning to expand your small business, then introducing electronic shelf labels would prove to be a great help!