The retail sector comes under one of the most innovative industries. Recent years have seen several changes in this industry. And Electronic Shelf Labels (ESLs) are one of them.
These are the electronic price tags connected to a computer database that makes use of a digital display to show the price and other product information. Not to mention that there are a dozen benefits of digital price tags for retailers.
But the ultimate benefit is to build an omnichannel experience to bring out customer loyalty. Are you curious to know more about the advantages of these price tags? If yes, then dive into the article to know why you should consider investing in electronic shelf labels.
Accurate pricing
The advent of the internet has brought a transformation to the way in which people like to shop. Now, whenever the customers go to the store to buy anything, they first check the online price of the same thing. If the prices do not align, consumers tend to lose trust in the store or the company. The electronic labeling system has changed the whole scenario.
It provides a standardized pricing system that can immediately reflect if there is any online price change in store. ESLs are also helpful in aligning the promotion prices or fixing any pricing errors. And as per the experts at SES-imagotag, ESL is the digital solution to physical retailing problems related to pricing. So, it is not wrong to say that it ensures price integrity.
Omnichannel experience
Let’s be honest: The future of the retail sector lies in the omnichannel presence. And how does ESL help with that? It allows the retailers and sales associates to interact with the customers in ways that were not achievable previously. For instance –
- It shows the current stock levels so that the customers are aware of the supply.
- It unveils the online prices so that the consumers put their trust in you if you promise them the best price.
- It simplifies the purchase and payment process with the help of QR codes.
The payoff is worth it
As per a study, the payoff of the ESL reaps higher benefits. And the in-store sales of a company can increase by 6% with a profit margin increase of 2-3%.
Plus, you can get a much faster return on investment that is up to 33% more profit value potential. So, if you still don’t have this technology equipped in your store, you are leaving a significant share of profits unrealized on the table.
It is reasonable
Undoubtedly, ESL requires a certain amount of initial investment. But with the numerous benefits it brings, you no longer need to keep a tab on the price tags every day. You can easily install and set it up with a simple screwdriver. Furthermore, it can operate on an unused WiFi network. This ensures maximum security. You just have to put in little effort to use ESL software, and you are good to go.
To sum it all up
It is needless to say that ESL technology is providing various benefits to retailers. And technology never remains the same. It changes from time to time. Thus, keep an eye on the technological advancements if you cannot change your store as a whole and reap the benefits with this cutting-edge technology.