The Value of Electronic Shelf Labels in Retail
Time：2020.10.13 Author：sertag
Although implementing an ESL system requires moderate initial outlays, retailers looking to cement a competitive advantage may find that such a system will save them significant time and money in the long run. The potential benefits a retailer might gain from the adoption of ESLs include:
Dynamic Centralized Pricing: With centralized pricing, all price points are controlled and adjusted using software on a central workstation (which often actively aligns with regional or corporate-level pricing fluctuations). This is much more efficient, accurate, and cost-effective than making manual price adjustments. It also enables dynamic pricing, or pricing that adapts to a range of factors — rising to match demand or account for low inventory; falling to match competitors’ prices or quickly sell items nearing the end of their shelf lives.
In-Store Heat-Mapping: When equipped with connectivity via communications technologies like Bluetooth Low Energy (BLE) beacons, ESLs can track how consumers move through a store. Label management software can then produce a heat map of the store’s floor plan, revealing high-traffic areas and logging the products they contain.
Automated Inventory Management: Inventory management can be a major headache for retailers, and automating the process can generate a great deal of savings. ESLs can be integrated with sales management software to enable retailers to more accurately track low inventory levels and gain instant insight into when new stock will be available. The displays can also be configured to show QR codes that take consumers directly to an online buying option.
To summarize the all, to realize these potential benefits, a price tag system needs to be rolled out over the right technological foundation. As alluded to above, low power consumption is a necessary condition of ESL cost-efficiency. Similarly, ESL systems need to be scalable enough to incorporate hundreds or even thousands of Connected nodes — all while facilitating effective communication throughout stores of any size. Finally, especially in light of high-profile hacks of retailers, retailers must be sure to make security a top priority as they continue to expand their digital portfolios.
Sertag is a technology company specializing in electronic shelf price tags, with many years of research and development and production capacity, can provide customers with a variety of solutions, to achieve intelligent retail scenarios and warehousing solutions.
Dynamic Centralized Pricing: With centralized pricing, all price points are controlled and adjusted using software on a central workstation (which often actively aligns with regional or corporate-level pricing fluctuations). This is much more efficient, accurate, and cost-effective than making manual price adjustments. It also enables dynamic pricing, or pricing that adapts to a range of factors — rising to match demand or account for low inventory; falling to match competitors’ prices or quickly sell items nearing the end of their shelf lives.
In-Store Heat-Mapping: When equipped with connectivity via communications technologies like Bluetooth Low Energy (BLE) beacons, ESLs can track how consumers move through a store. Label management software can then produce a heat map of the store’s floor plan, revealing high-traffic areas and logging the products they contain.
Automated Inventory Management: Inventory management can be a major headache for retailers, and automating the process can generate a great deal of savings. ESLs can be integrated with sales management software to enable retailers to more accurately track low inventory levels and gain instant insight into when new stock will be available. The displays can also be configured to show QR codes that take consumers directly to an online buying option.
To summarize the all, to realize these potential benefits, a price tag system needs to be rolled out over the right technological foundation. As alluded to above, low power consumption is a necessary condition of ESL cost-efficiency. Similarly, ESL systems need to be scalable enough to incorporate hundreds or even thousands of Connected nodes — all while facilitating effective communication throughout stores of any size. Finally, especially in light of high-profile hacks of retailers, retailers must be sure to make security a top priority as they continue to expand their digital portfolios.
Sertag is a technology company specializing in electronic shelf price tags, with many years of research and development and production capacity, can provide customers with a variety of solutions, to achieve intelligent retail scenarios and warehousing solutions.