Challenge:
Products such as fruits, vegetables, and seafood in supermarkets are often influenced by factors such as seasonal changes, transportation and storage costs, production costs affected by the natural environment, and supply-demand dynamics.
As a result, the prices of these products tend to fluctuate frequently. Failure to update prices promptly can adversely impact product sales and ultimately affect the profitability of supermarkets. Additionally, delayed price updates for fresh products can result in unsold inventory, leading to losses for supermarkets.
For large-scale supermarkets, the number of fresh SKUs is extensive. As of 2021, major retailers in China, such as Walmart and CR Vanguard, offer tens of thousands of fresh SKUs. Managing such a vast number of SKUs using traditional paper price tags can be an arduous and time-consuming process. It requires multiple individuals to handle tasks such as data organization, manual writing, locating the products, and installing the tags one by one. Additionally, if there are promotional products, creating special promotional tags further adds to the time and cost involved. The overall time and cost expended in this process are far beyond what we can imagine.
MinewTag's Electronic Price Tags Selected by Korean Fresh Food Store
Solution: ESL Electronic Labels for Intelligent and Dynamic Pricing
If ESL electronic labels are used, all these issues will be easily resolved.
In a Korean fruit store, the prices of all fresh fruits are displayed using ESL electronic labels provided by MinewTag. This not only enhances visual aesthetics but also enables intelligent and real-time price updates, reducing labor and errors. MinewTag's digital retail solution seamlessly integrates with the store's POS system, effortlessly handling frequent and bulk price changes. Our solution utilizes Bluetooth 5.0 communication, allowing rapid and instant updates upon information transmission. It effectively avoids delays in price updates caused by excessive product quantity and limited manpower, enabling centralized management across multiple stores. Even for unmanned stores, remote price updates can be easily implemented.
In the case of urgent content changes during temporary inspections, ESL electronic labels can also be modified using a mobile app or PDA terminal. This allows for quick updating of label content, efficiently managing product prices.
MinewTag's electronic shelf labels used in the Korean fruit shop
In terms of operational costs, ESL electronic labels can be refreshed up to 5 times per day and have a lifespan of over 10 years. They also support battery replacement, saving a significant amount of paper while freeing up manpower resources for more crucial store operations and management.
MinewTag’s digital retail solution not only resolves the issues with paper price tags and reduces store operating costs but also enhances the shopping experience for consumers. In the future, ESL electronic labels may even integrate with technologies such as artificial intelligence and big data, further enhancing the intelligence of digital retail and bringing forth more business opportunities and value.
The cloud platform is equipped with a vast array of templates to cater to the price display requirements of promotions or new product activities. Additionally, the labels feature 7-color LED lights that provide reminders for consumer activities and prompts for replenishment and picking tasks for employees.