Electronic Shelf Labels: Top 4 Benefits of This Top-Shelf Technology
With technological advances developing at a rapid rate, it’s hard to guess the next item designed to receive the technical overhaul. For this reason, it might surprise you that the latest technological transformation could revolve around the everyday price tag at a retail store.
With forecasts of continued increase of Electronic Shelf Labels (ESLs) in Europe and supermarkets in the US and the UK, digital price tags are bound to become the next big step in retail digitization.
Therefore, let’s investigate the various benefits of upgrading your store with Electronic Shelf Labels.
● Omnichannel Shopping Experience
With virtual control, cloud connectivity, and on-site automatic powering up, ESLs is a perfect platform to grab future opportunities in the retail industry.
The continuous research performed in the retail industry shows that a wirelessly powered ESL system will offer retailers revenue enhancement, increased customer satisfaction, and higher operational efficiency.
● Customized Shopping Experience
QR codes can be among the extra information ESLs can display when it comes to digital price tags. With these codes, customers can personalize their shopping experience by interacting with the product, with options like adding to the wishlist, reading customer reviews, sharing the product on social media, or saving the product for purchase on a specific date.
These features customers get with ESLs enhance their shopping experience by letting them access products from your store even after they have left the facility. According to the leaders of this rising technology Electronic Shelf Labels customers are more likely to buy a product from your store if they can access the product information digitally. And this can be made possible only with the help of digital price tags.
● Reduces Wastage
An important objective of modern businesses is to minimize waste of all types, including paper and plastic. Not producing paper labels continuously is one of the most efficient and accessible ways to achieve this objective.
Retail business owners might think it would not constitute much to this goal, but printing hundreds and thousands of price tags soon add to significant expenses which retail owners must look into. Retailers can take inspiration from one branch of the UK supermarket. Not updating the price of approximately 3,000 products a week saved the management from wasting 60,000 sheets of A4 paper during their product price up-gradation process.
Therefore, if your goal is to reduce waste and contribute to saving the environment, ESLs are an excellent option for your retail store.
● Increases Revenue
With ESLs, retail store owners have experienced a significant increase in their turnover, resulting from the aforementioned benefits. Technically speaking, with the utilization of this technology, reports show that in-store sales increase by approximately 6 percent.
Increased revenue is beneficial to your business and proves that digital price tags create a satisfying and rewarding shopping experience for your customers.
To Sum it Up
When you are a retail store owner, you need to keep finding ways to compete with the challenges brought on by eCommerce businesses. With ESLs, you get the opportunity to face your competitors’ heads on whether they are online or offline.
