3 Important Uses of Electronic Shelf Label

In recent years, one of the prominent changes that has motivated the retail industry is associated to the implementation of Electronic Shelf Labels (ESLs). They are basically an electronic version of price tags that make use of e-ink to display the value and are actively linked to a computer database. Therefore, the task of changing in-store price becomes as simplified as typing a fresh price directly into the software.

For retailers, such technologically motivated price tags hold numerous profits. But eventually, the utmost advantage is associated to their ability to participate in real-time, dynamic pricing for in-store products. Apart from this, there are several other benefits of electronic shelf labels which include:

Exact Pricing for All Channels

The outburst of internet has totally transformed the way people shop. Hence, it is quite common for consumers to check the price of an item when they are strolling through a store. It is obvious that shoppers can lose trust in a particular company if the in-store prices do not align with the product’s price displayed online. However, ESLs completely take good care of that interaction. They help in the delivery of a standardized pricing system hence, customers aren’t disappointed due to price differences.

Quick Payback

Based on an assessment delivered by DisplayData, the remuneration through ESLs is quite high. It was reported that in-store sales increased by 6%, where the typical margin increase used to be 2%-3%. Furthermore, the payoff is also quick; for instance, one of the customers at DisplayData received a payback on their investment within 16 months and foresees over 170% ROI in the succeeding two years. With such lucrative advantages to both retailers and customers, the electronic shelf label market is anticipated grow further in the coming years.

Shelf Edge Inspiration

It should be know that, the shelf edge acts as the most vital sales influencers. A majority of the purchases are managed at this point; therefore, you would surely want the pricing information to be accurate.

When using paper labels, shifting pricing information is highly prone to human error and is also regarded as a slow process when manually done. However, with ESLs these changes are made easy, thereby, permitting you to capture additional sales at the shelf edge. Also, retailers can competitively respond to price changes, track promotions and even safeguard margins on stock which is time-sensitive with the help of ELSs.