Electronic Shelf Labels: The Future Of Retail Operations
02 Oct 2024In a constantly changing retail market, with prices needing regular updates, finding innovative technologies to improve efficiency is crucial. One of the best technologies around for this? Electronic Shelf Labels (ESLs)!
ESLs offer a modern, cutting-edge solution that goes beyond traditional price tags. These labels enable retailers to update prices instantly, utilise dynamic pricing and control inventory data.
In this blog, we’ll explore how electronic shelf labels are quickly emerging and taking over the retail market and why they are becoming the new face of pricing.
What Are Electronic Shelf Labels?
ESLs are digital pricing products that are being used to replace traditional paper price tags. These labels are connected to a central system using wireless technology, allowing retailers to control and manage these simultaneously without the need for manual intervention.
Typically, ESLs use E-ink displays which provide a clear, easy-to-read display whilst using minimal power, contributing to longer battery life.
There are numerous types of ESLs available, with different colour options, making them suitable for brands with varying budgets or who are looking to display various types of product information.
What Are Some Of The Key Benefits Electronic Shelf Labels Bring To Retailers?
If you are looking for ways to improve your business and the efficiency within your day-to-day operations, ESLs will be a fantastic addition to your store.
Growing in popularity and constantly developing, these products bring several benefits to retailers, some of which include:
- Environmental Sustainability – As ESLs work with E-ink, they significantly reduce the need for paper labels and tags. This minimises the need for regular physical label changes, contributing to environmental protection.
- Enhanced Customer Experience – Electronic Shelf Labels are available in various sizes and styles, meaning there is the option to showcase more than just a price. Having different types of product information available, including pictures or QR codes can improve the customer experience since it has the potential to make their purchasing decisions easier.
- Cost Savings – Whilst there is an initial investment for ESLs, they provide a fantastic ROI in the long run. This is because they reduce the need for many regular expenses, including paper, printing and the labour associated with updating traditional tags.
How Electronic Shelf Labels Can Assist With Dynamic Pricing:
Dynamic pricing is a pricing strategy that involves changing the price of products based on their demand in the market or competitor price changes. This is already a strong pricing strategy, and can be made even stronger with the help of ESL.
One way ESL can assist with dynamic pricing is with optimised inventory management. Retail stores can instantly lower prices on slow-moving items to reduce stock or increase prices on products in higher demand.
Another way that ESL can assist with dynamic pricing is their ability to help create improved shopping experiences. Using their data analytics, retailers can create tailored sales or discounts. This can increase sales and ensure your business maintains a competitive edge in a crowded market.
Conclusion:
If you think ESL could be the perfect addition to your retail store having learnt more about the products and their benefits, UNIFY VSN will be more than happy to help.
Our team is available on the number 01279 703070 or the email address Sales@UNIFYVSN.co.uk, where they will be more than happy to answer any questions or offer the assistance you need.
If you want to learn more about ESLs or explore our other display solutions in more detail, visit our website.
