One of the most recent and dynamic updates to enter the retail industry has been Electronic Shelf Labels (ESLs). These are electronic versions of conventional price tags that utilize an “e-ink” to display the value of a product and are entered into an online database. One of the biggest perks of using this labeling technology is that changing in-store prices has become simple as entering the updated price into the system.
If you’re curious to know about the benefits of electronic price tags, we have are 5 of them for retailers to invest in them.
While online shopping, you can lose potential customers if your in-store prices don’t coincide with the online price data. This is the unfortunate reality a lot of brick-and-mortar retailers face.
An electric labeling system like SES-imagotag can change this problem by introducing a standardized pricing system so that the brand can align the online data and store prices across any location.
Adding price labels to products is not immune to human error; the staff could add the wrong tag to the wrong product. Being a manual process, the prices can change online by the time an employee re-labels the products. This can be seen especially during the sale period where electronics are competitively priced within the hour.
ESLs make these changes easy, so a business can push through more sales front their stores.
ESLs are a quickly growing market that helps businesses to interact with customers that were not previously feasible:
- Display the accurate stock count, so customers know the product quantity is limited
- Display the online prices of competitors so that customers can get the best deal
- Make ordering easier using QR codes.
- Show product reviews for customers to know the product better before purchasing it.
ESLs are not as expensive an affair as one may think, with benefits easily overpowering the investment cost.
Since a shelf edge is the final yet most impactful point of influence that helps product sales, the power to control the details a consumer can view at the touch of a button is game-changing. To install and configure an electronic shelf label, the process consists of:
- Limited installation and construction
- High-security provision and low maintenance
Once the installation is complete, your staff will no longer require to watch the price tags like hawks every day. The centralized system requires just one person to make all price changes in the store.
Even the substantial price for the initial installment gets paid back quickly since the returns are high for ESLs. You can expect a growth in sales and margins while saving time and adding an online system to the fold.
If you’re wondering about the payoff for transitioning shelf labels, you’d be delighted to hear that those are quick as well.
To provide an omnichannel experience, a brand must focus on connecting stores to the online world, where shelf edge is an example. In an omnichannel buyer’s journey, electronic shelf labeling is perhaps the simplest method to unite both physical and online domains.