As technological advances continue to evolve, a growing percentage of point-of-sale and network administrators are looking for new ways to boost revenue, improve customer experience, and optimize personnel management. The introduction of new electronic shelf labelling solutions to the market opens up new avenues for developing a successful business and service quality goal. Installing electronic shelf labels helps future-proof your business by reaching the escalating demand for digitalization, enhancing customer satisfaction, and keeping customers from switching online.
What exactly are electronic shelf labels?
Electronic shelf labels, or ESLs, are used on retail shelves to electronically display and automatically refresh information about products. These displays, which come in a variety of forms and sizes, can be used in any retail setting, from clothing stores to supermarkets. ESL helps retailers to seamlessly adjust pricing in real-time throughout the store, saving hours of repetitive and error-prone manual input. ESLs enable merchants to improve pricing accuracy and efficiency, optimise click and collect, and streamline restocking.
Store owners can react quickly to current prices and quickly align pricing to compete with online stores. ESLs enable customers to see the proper price right away and receive customised, in-depth information about the product, resulting in a streamlined in-store and online purchasing experience with pricing transparency.
Now that we know what electronic shelf labels are, let’s take a look at how this technology will digitally transform your retail store.
How do ESLs work?
Electronic shelf labels show information on a display by employing electronic paper or liquid crystal paper. Electronic shelf price tags can readily adjust prices whenever required over a local area network. ESLs can update hundreds of displays over several channels using a few mouse clicks from a remote server. Paper labels or the time-consuming deployment of store personnel to manually update the price labels on each and every shelf will no longer be required.
ESL is more than merely displaying product pricing. It serves as a guide to assist buyers in deciding which items to purchase. Aside from the pricing, ESL might provide further information, including the nutritional value, price per weight, and remaining stocks.
Dynamic pricing, which allows your store to update prices in real-time and maintain profitability despite price changes, can be accomplished using ESLs. You can use dynamic pricing to raise prices to capitalise on demand while also lowering prices to promote sales and deliver products. It also provides information on customer behaviour patterns by precisely indicating the price range for which buyers are ready to pay for specific products.
Not only that, ESL can give precise inventory information and notify workers when products are low on stock or about to expire. ESL facilitates communication by combining physical and online businesses.
Why do you need to consider having an ESL in your retail store?
Both customers and store managers will profit from the latest interconnected electronic labelling systems.
- Pricing consistency across channels
Customers lose trust in a business when in-store prices do not match the online price display, which is unfortunately frequently the case. However, an electric labelling system completely changes that encounter. Your customers will no longer be misled by price variances if you use a single standardised pricing structure. Instead, any price change made online can be reflected in-store instantly.
These pricing revisions are made electronically and on a real-time basis. This allows for total price management at all times and ensures improved consumer satisfaction in terms of displayed price accuracy.
- Supply Control
Warehouse management plays a critical role in the appropriate organisation of a virtual or physical point-of-sale. However, this does not always imply that the work cannot be simplified. Electronic labelling also has the advantage of informing customers about the number of items in stock. For example, each label within the point of sale can be geotagged, making it easy for workers to restock products.
- Enables traceability
Electronic labelling can help in product tracking, whether it is for monitoring rented products, re-commerce, or rental. It gives customers access to all of the important information they need on the display. The customer is more satisfied when they get all of the information they need to choose their product thanks to the traceability display.
- Error Prevention
A labelling system that is automated can help to reduce the number of inaccuracies in the physical presentation of tags on shelves. Because labels may glide on their shelves and are updated automatically remotely through an infrared, high or low-frequency link, the number of staff operations can be reduced significantly.
Retailers must be as engaging as possible when it comes to finding ways to assist clients. To compete in today’s competitive business environment, it is critical to unlock the potential of technology that comes with electronic shelf labels.