The use of ESLs, or electronic shelf labels, is the cutting edge of technology for traditional stores. Now, more than ever, you need ESLs if you want to make it through the dawn of the New Retail Business and survive the onslaught of online competition and shifting consumer preferences.
Electronic price labels
What does ESL, or electronic shelf labeling, entail?
Digital price tags, often known as electronic shelf labels, are wireless digital displays used in stores to show product prices. In most retail settings, ESLs are mounted on the front face of the shelf.
There will be a decrease in personnel costs associated with price management, an increase in the reliability of pricing, and the ability to implement dynamic electronic pricing labels, all thanks to the integration of ESL with the store's ERP and POS systems.
Why Should You Use ESL?
IoT-enabled shelves can monitor stock levels and product quality and promote sales and customer participation. These labels can convey a great deal more information than only their contents or their genetic make-up.
In-store experiences can be customized for customers who are members of a company's loyalty program and have downloaded the company's app. Your specific needs will be met by an intelligent shelf that comes to life as you get close.
Where to Buy?
Electronic shelf labels are manufactured by a select few companies around the world. More and more companies across various sectors are reaping the rewards of our ESLs. Five years ago, several retailers moved to 30+ countries and set up shops with 4,000+ locations, installing 100 million ESLs across the board.
You can buy electronic shelf labels from any ESL supplier. Several of these allow organizations to do many additional functions compared to a standard digital label. The shelf labeling system in your store can take advantage of the following advanced features:
Enjoy MinewTag's capabilities for up to ten years on a single set of batteries.
Eight to ten times quicker updating speed than competing best buy electronic price tags.
Seven colors, with longer battery life, allowing for the more significant potential for frequent ESL use.
More work can be done in less time with the help of the device's two configurable buttons.
It has an ingress protection rating of IP67, so not even the tiniest dust particles will get inside!
Design that may be altered to feature the company's preferred hues, patterns, and logo.
7-color E-ink price label
What Is the Change Inside the retail store?
Can you see your neighborhood grocery shop offering a happy hour special on select items for a limited time and then reverting to regular pricing at the click of a mouse? This is tough to believe. It's not hard to imagine, though, given that shops are increasingly using Internet of Things tools to facilitate this.
This cutting-edge system has been adopted by retailers across the globe from various countries to manage prices better. There has been a shift in the retail industry in India, with several stores currently testing the waters with electronic shelf labels manufacturers (ESL). This technology has seen great success in the West.
Electronic shelf labeling (ESL) is a cutting-edge method that stores employ to post product prices on the front face of shelves. With the ESL method, digital paper devices take the place of traditional paper shelf labels right at the point of sale.
Due to the manual nature of the pricing adjustments, they are prone to mistakes and are both time-consuming and inconvenient.
To improve management, they have started to pay more attention to the pricing and purchasing processes. Any course change will be disastrous for paper labels used in stores.
When compared to traditional paper labels, ESL has many advantages. ESL is an accurate, paperless, and wireless alternative to conventional labeling methods. Customers are more likely to make spontaneous purchases, leading to higher revenue and fewer operating costs.
Implementing E-Shelf Labeling in Stores:
1. Offer additional information:
It's not uncommon for paper labels to only feature the cost information. These days, electronic shelf labels can show more information than ever before while being easily readable. ESLs can be used to offer a variety of pieces of data, including calorie counts, product dimensions, unit costs, availability, and more.
2. Make your shopping trips unique:
ESLs can show off extra details in the form of QR codes. These add to the product's interactivity by letting consumers save it for later purchase, share it on social media, read other customers' opinions, and more.
3. Do away with showrooming:
Showrooming, where consumers try out products in-store before making online purchases, is rising (usually at a lower price). By monitoring their competitors' and online retailers' prices in real-time, stores may easily adjust their prices using ESLs, providing dynamic pricing inside the store.
4. improve precision by:
Labels on paper products are often misplaced by customers or become outdated as time passes. Since ESLs are permanently attached to the shelf, they cannot be lost as paper labels can. This alone improves label accuracy by 90–95 percent. Because ESLs receive their pricing and product data from a centralized location, the information displayed on them is always correct and up-to-date.
5. Increase output by making better use of workers' time:
An individual revising hundred or even thousands of labels could easily make a mistake. This process wastes time causes inaccuracies in labeling and adds work hours per week. Much of this effort can be eliminated when product labels can be updated through a centralized digital system, freeing up employees for other activities or direct customer service.
6. Lessen your environmental footprint by following these six simple steps:
The elimination of paper and plastic waste has become a top concern for many contemporary businesses. One easy way to achieve this is to stop producing paper labels altogether. It might not seem like much, but printing hundreds of thousands of titles adds up fast.
7. Look at the foot traffic:
The traffic patterns of your customers can be monitored with the help of ESLs fitted with motion detectors. These smart add-ons can help you generate a digital heatmap of your business district, pinpointing the areas that attract the most and least customers.
Product and promotional placements, pricing strategies, and location awareness can all benefit from this data. More methods can boost sales if a product is not moving well in a heavily traveled location.
MinewTag's ESLs used for Black Frisay sale
Conclusion
Because of benefits like improved inventory control and a straightforward management system, an increasing share of the dynamic retail industry is planned to switch to electronic shelf labels.
Businesses have succeeded after implementing ESL because it provides customers with a new shopping experience. Since ESL has implemented a uniform pricing structure, customers can now shop without worrying about whether or not they are getting a good deal.