Revolutionizing Retail Business: The Impact of Electronic Shelf Labels and Digital Price Tags
The new technologies emerging every day have prompted businesses to find new ways of improving their sales and customer experience and optimizing the management of their employees. For instance, the emergence of electronic shelf labeling technology has opened opportunities for retail businesses to enhance customer satisfaction effectively. Electronic shelf labels, also known as digital price tags, are digital displays of the prices of products on shelves in supermarkets and retail stores. The technology has come in place of paper labels or stickers.
Even though this technology has existed for a long time, its hype has started recently as retail businesses have been looking for ways to improve customer satisfaction and manage inventory. So, they are helpful in logistics warehouses and retail companies for efficiency and cost-effectiveness, and it is easy for retail businesses to manage their shelves and reduce labor.
Digital price tags let you keep your customers happy by providing real-time price updates. Therefore, they also provide more information about products between different brands, helping the buyer make a better decision.
Let us focus on how electronic shelf labels and digital price tags impact retail businesses.
As mentioned, manually updating shelf prices and stock takes a lot of effort and time. Furthermore, the business has to print new labels. With the recent labor shortage, a retail store can suffer more. The best thing is that electronic tags have eliminated the need for extra staff to update the shelves and do other manual jobs. This has reduced labor costs, improved staff morale, and helped keep more focused on interacting with customers and looking into their needs to satisfy them.
Prices keep changing from time to time. Retail stores must keep updating their shelves to keep up-to-date with the changes. Updating the prices manually is tedious, time-consuming, and prone to errors. However, a business that has adopted the new technology such as SES-imagotag’s electronic shelf labels benefits mainly because it allows updating of the database. Therefore, updating prices can be done within minutes without any errors. This way, customers have the most updated prices without delays.
Another way ESLs are transforming the retail business world is through improved communication. Today, consumers prefer making good decisions. Therefore, they need as much information as possible about different products. This is precisely what digital price tags offer. Apart from displaying the price, this technology provides more information about a product. A customer can then compare different brands and pick what suits them most. Additionally, you can quickly inform a customer when a product is in or out of stock.
Thinking It Through
ESLs have brought about a significant transformation in retail, and this technology continues to improve. The technology has increased convenience and provided retailers with a streamlined way of managing processes and predicting the future. If ESLs are the future of retail then it is only proper that stores join the hype. It is crucial for retailers to shift and adopt the emergence of ESLs for effect
Aimee Garcia is a Marketing Consultant and Technical Writer at DailyTechTime. She has 5+ years of experience in Digital Marketing. She has worked with different IT companies.