How electronic shelf labels increase sales, save time and cut waste

Posted by Paul Milner on Dec 20, 2016 7:00:00 AM

Every grocer ­­– from a­ giant chain to a small corner shop, faces the same challenge: how to change prices quickly to respond to fluctuations in demand, local conditions (such as a heatwave or a sporting event) and competitors’ moves. And, in the drive to protect margins and reduce food wastage it’s critical too to continually graduate the pricing of time sensitive goods – e.g.  fruit / vegetables, flowers, the deli counter and more.

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But changing prices manually is a time-consuming process, and many retailers have to prioritise price changes: 46.7% update their prices once a week, but 53.4% say they would like to be making those changes daily, and in real time [1]. This is a problem in a sector as competitive as grocery where price matching and every day low prices are often pre-requisites to attract customers.

Electronic shelf labels (ESL) provide a solution to this challenge.

CHANGING PRICES AT A CLICK

With our fully-graphic, 3-color ESLs you can remotely change any price data on any shelf in an instant. Each label is centrally managed using our  software installed at your HQ.

NOT JUST PRICES

You can also use our ESLs to display promotions, competitors’ prices, social reviews, source, currency conversions, stock levels and much more. Furthermore, there are six ‘screens’ available on each label that can be flipped at any time. These displays can show private messages to staff to help them upsell, merchandise and efficiently manage store processes such as replenishment.

QUICK RETURN ON INVESTMENT

The ability to achieve limitless label changes using paperless and automated processes significantly reduces in-store costs. It also allows you to deploy your pricing strategies with speed, agility and consistency. Your team can spend more time with customers and delivering value add services in store. agility is key in the uber competitive grocery sector. Iit allows you to more easily use pricing to protect margins and reduce waste for perishable goods, easily match prices with competitors, and create more engaging in-store experiences.  

Recent research tells us that 56% of shoppers feel that technology enhances their shopping experience [2]. We believe this percentage will only continue to grow – especially as 90% of transactions still take place in the store [3]. Appealing to increasingly tech-savvy customers with interesting and eye-catching labels that show compelling prices and offers is a significant added advantage of ESLs over paper-based options.

[1] RIS, Pricing Intelligence Goes to War, January 2014 [2] Planet Retail Shopology (August 2014 to November 2015) [3] Planet Retail (2016)

 

Topics: electronic shelf label, retail, Waste Management, worldwide, supermarkets, Inventory Management, grocery, merchandising