Don’t you ever wonder if you could make your physical retail outlet a bit digitized like online stores? Don’t you wish in-store inventorying, checkouts, and updating item prices could be as fast as they are online? That could improve the customer experience while making your business operations more effortless.
Luckily, there’s a digital and faster way to update your shelf label. With an electronic price tag, you no longer have to print on sheets of paper every time you update your shelf labels.
What Is An Electronic Shelf Label?
Also known as digital price tags, electronic shelf labels are a digital way of displaying item prices to customers, ensuring prices are updated instantly and efficiently. With Electronic Shelf Labels, you not only minimize your paper waste but also remove the hassle of writing prices for each item in your physical store.
It’s a revolutionary way of bringing technology and automation to physical retail stores. Think how sophisticated and appealing your physical store instantly becomes with prices displayed on eye-catching screens rather than pieces of paper.
But you might have second thoughts about applying these electronic labels to your physical store. Maybe all you need is a little more information about the benefits.
Using Electronic Shelf Labels To Digitize Your In-Store Shopping Experience
Automation is largely embraced in retail and several other sectors for its efficiency and how it frees up time for users. However, shelf labels have been a way to display prices for decades. While the process seemed fine, it can be automated through digital shelf labels to reduce labor and implement dynamic pricing solutions.
Imagine being able to update the price of an item instantly with the click of a button, rather than pulling multiple sheets of paper down, printing, and putting up new ones.
Why You Should Consider Leveraging The Digital Shelf Label
Here are some benefits physical retail shops stand to gain by using electronic price tags:
- Shelf efficiency. Electronic price tags enable physical stores to correctly and efficiently manage inventory to optimize product availability on their shelves.
- Displaying the right message at the right time. It’s not always great to tell a customer a price when they can see a different price tag on the product. This occurs when you have updated prices but haven’t been able to implement the change on your shelf labels because of time. Displaying the right message at every instant is crucial to sellers, and the electronic shelf label helps you achieve that.
- Providing an omnichannel functionality. If you have a physical store and also sell online, you want to interact with customers through multiple channels. For instance, you might want to enable ordering via QR codes so that customers can order online when your shelf runs out of stock. With an electronic price tag, you could also display product reviews in your physical store.
- Maximizing profit margin. With dynamic pricing via digital shelf labels, you can instantly increase the price of an item to maximize profit margins when there’s an opportunity (such as when you experience increased demand for a particular product.
Updating shelf labels is a business process that’s often given less thought but tends to eat up operational costs. By digitizing this process, you will observe significant labor and material costs savings while enhancing your customers’ in-store shopping experience.