Automated digital pricing
The pressure on retail is constantly increasing. Due to the need to harmonize e-commerce and retail Prices, new technologies are pursued. The advantages of dynamic and comprehensive price management while decreasing the work load are obvious. You can easily adjust prices in accordance with your competitors or nurture specific shopping behaviour.
Circumstantial pricing is not a futuristic trend but reality. Customers get various prices on often identical offers through different channels. This calls for tools to control and streamline multiple of those channels. Additionally, our system offers actuality, time saving and resource optimization. Manual price adjustments are time and resource consuming no matter if it’s a big enterprise, car retailer, supermarket, fashion store or small business. Empower yourself to reallocate those resources. Digital price adjustments premise-wide with electronic shelf labels is now a matter of minutes rather than hours.
E-commerce further increases the competitive pressure on retailers and leads to more frequent price adjustments. Displaying an already outdated price often leads to immediate loss of trust towards customers, which no business owner can afford in today’s economy. Electronic price tags provide the possibility to confront these needs with flexibility, productivity and precision. Changing a traditional paper price tag takes about 3 minutes, which quickly adds up to several hours of work for an entire store. Beside slower price implementation, increased cost and higher error probability, paper price tags can also cause significant waste. Due to the short response, time labels can be updated during business hours without risking a mismatching of shelf and cash register price which reduces complaints.
E-commerce, tablets and smartphones lead to a constant development of the common working methods in our digital age. This applies to retailers and industrial applications alike. The implementation of digital technology like electronic price tags is lucrative for vendor and customer alike. The electronic price tag provides valuable information to the customer and offers the vendor an interactive platform to tailor offers and incentives to the customer’s individual preferences. This doesn’t reduce the interaction with the customer but improves it in matters of cost effectiveness and efficiency.
Customers nowadays are better connected, have higher expectations and take less time for their shopping experience due to the digital retail channels in e-commerce. Modern retailers see the sign of the times, scrutinize and redevelop own content and technologies to better serve their customers with better networking, information and support. All these challenges are met with intelligent electronic price tags.
Electronic shelf labels are developed for stability and longevity and therefore provide the ideal infrastructure to interconnect products, customers and retailers. The customer can access a separate page by tapping his smartphone to the NFC tag of the electronic shelf label and thus get additional information on the specific product, such as contents, origin and processing. And the best part is that the customer’s privacy is protected at all times.
Electronic shelf labeling slowly displaces paper labels to counter rising costs and streamline frequent price changes. Retailers experience another change due to the constant innovation in electronic shelf labeling, especially in terms of new software. The keyword here is precision commerce: local as well as e-commerce focus again on targeting customers key group specifically.
Smart labels build the foundation for countless applications. Some examples would be optimized real-time management, stock and cost minimization, reduced shortfall and waste for perishable wares. An already implemented scenario for optimized stock management is the “happy hour” in which retailers offer price reductions on perishable wares before closing time. A pure win-win situation in which waste is reduced, storage space is freed for new deliveries and customer interest is sparked. Thanks to the dynamic solutions of e-shelf-labels accurate, real-time price adjustments are just a matter of minutes or even automated.
Improving customer satisfaction
Reinvent the retailer’s relationship with the customer. Today’s customers are increasingly demanding and look for new shopping experiences. e-shelf-labels offers a high-end omnichannel infrastructure to optimize the shopping experience thanks to its specifically designed software and radio transmission protocols. The simplicity of e-commerce is brought to the local store thanks to dedicated interactivity while improving the advantages of physical retail. The embedded NFC-tag empowers the customer’s smartphone to access additional product information or update his loyalty program status at any time. Also applications like floorplans, interactive maps or product guidance is just a tap away.
The individual customer experience is vital to the local store owner that wishes to compete with e-commerce channels. Meet these requirements by installing our electronic shelf labels infrastructure that enhances the customer experience through interconnection. Additionally, floor employees can reallocate the freed-up time for tasks like personal customer care which make all the difference in retail.
Sustainability through waste prevention
Electronic shelf labels are not only used as price tags, they find usage in many areas where printed paper is used to label something. Electronic shelf labels are available in different sizes to best fit individual needs. In industrial applications for example they can be used to label boxes during transport or serve as digital signage for room management. Electronic shelf labels are the ideal solution to digitise your processes. Therefore, they contribute to reduce the environmental impact on paper waste, especially in areas where a relatively high information update frequency applies. Additionally, they speed up the information distribution and offer new interactivity interfaces like NFC technology or BLE.
Aside of the obvious paper waste reduction due to reusability of the tags, there are additional waste reduction aspects. Contributing factors here are less error margins, more price updates, better stock management and the ability to quickly adjust to external influences like, weather, news or stocks. Another strong point is the additional data that can be collected with the help of digital price signage. This data, used by software like Pulse, can in turn further optimize stock and waste management.