Electronic shelf labels have been debated among retailers for the past few years. These are credit-card-sized gadgets that are intended to supplant conventional paper shelf markings. They are crucial in enhancing store operations and productivity. Did you ever wonder why?
It may be difficult for retailers to keep consistency across all channels, procedures, and personnel. However, as the market expands and company scales rapidly rise, the retail industry's running costs stay high, with personnel costs rising and operations becoming more complex, placing retail companies under massive pressure.
Not only are purchasing, selling, and marketing essential success factors for business improvements. Profitability and growth often result from efficient store operations, and electronic shelf labels are at the heart of a successful store today and in the future. You will learn more about it further. Keep reading!
ESL Technology and Features for Store Operations and Efficiency
● Electronic shelf label hardware
These are digital labels used for updating products in retail stores. They look like-
● Automatic updates and synchronization
ESL technology can immediately make the changes. Furthermore, digital labels can be used to coordinate total product information.
● Inventory management
Running out of supply or having the incorrect stock level are significant issues in today's shopping. Electronic shelf labels have the potential to enhance store inventory data and ease inventory reviews.
● Integration with existing store systems
By integrating with them, ESL systems can ensure that general shelf product information is coordinated and consistent with those in POS systems. This contributes to better-tailored marketing.
Benefits of Using ESLs for Store Operations and Efficiency
Reduction of manual labour and errors
Changes that used to take staff days or weeks to complete can now be completed in minutes, freeing up employees to work on activities with a higher added value, such as supply replenishment and customer service.
Improved inventory management and stock levels
It can help with inventory management by alerting staff to out-of-stock products and providing easy access to information such as the store's stock amount, past and planned delivery dates and quantities, etc.
Increased efficiency of pricing and promotions
ESL simplify marketing administration because changes can be instantly updated as often as desired. Furthermore, four of the most frequently used colours are accessible on the digital labels to help promotions stand out to customers.
Enhanced employee productivity and morale
ESl has also helped to improve employee productivity and morale. It can be applied to more impactful tasks such as dealing with client inquiries, replenishing the supply, and handling merchandising.
The charges of ESL management software differ depending on the business. However, the typical cost, including maintenance, is around $500. To summarize, a retail company will need between 61,700 and 102,100 US dollars to affix 10,000 electronic price stickers to the rack, with a one-and-a-half-year return on investment.
ESLs enable merchants to digitally, flexibly and effectively describe and do inventory management. Moreover, simple training is required, and staff can operate.
There are several advantages to using computerized shelf stickers for store operations and efficiency. however, one must know t the importance of digital labels in retails. ESLs can genuinely bring retailers into the modern era and help them stay competitive.