5 Benefits of Electronic Shelf Labels

Electronic price tag, also known as electronic shelf label (ESL), is an electronic display device with the function of sending and receiving information, mainly used in supermarkets, convenience stores, pharmacies, and other places should display prices.

Placed on shelves, it is a replacement for traditional paper price tags. Each of the ESL can be connected to a shopping mall computer database via wired or wireless networks and displays the latest product information via a screen. Electronic shelf labels have succeeded in integrating shelves into computer programs, so that it can free people from changing price tag manually and achieve price consistency between cash registers and shelves.

Interested in learning more about the benefits of ESL? Here are 5 reasons below about why you should consider the investment in retail electronic shelf label.

1. Accurate price controls

When people shop in the store, it’s common for them to check the price. If in-store prices don't match the online data, shoppers would lose trust in the company, which, unfortunately, is often the reality they encounter.

Electronic shelf label can synchronize price and other information in store with the online store’s in real time. Your customers won’t be disappointed by price differences anymore. Instead, your company can immediately reflect any online price change in-store.

2. Shelf edge

The shelf edge is one of the most important sales influencers. It’s slow to find that the price is not competitive. And when you find it and change the price, reasonable price might have changed again.

However, these changes are easy with ESL, so you can capture more sales at the shelf edge. You can react faster to price changes, enable instant promotions, track promotions, and protect the profits of time-sensitive stocks. You can even create offers based on where a particular customer is in the store, with just a few clicks.

3. Enhance your omnichannel experience

It’s no secret that omnichannel is the future of retail.

How do ESLs help you build a successful omnichannel experience? ESLs enable you to interact with your customers in ways that were previously impossible:

• Display stock levels so customers know whether the supply is limited

• Display online prices of competition so consumers can trust you when you say you have the best price

• Enable simple ordering with QR codes

• Display reviews of products, so shoppers can understand what others like or dislike about a product

And these are just a few examples.

4. It’s easy to use the ESL

• Minimal construction and installation: Electronic shelf labels are easy to install and can be set up with a simple screwdriver. They are also easy to configure using the software provided

• High security and low maintenance: ESL run on unused Wi-Fi networks to maximize retailer security at low maintenance

• Easy to use: Most ESL software is easy to use and learn. Just drag and discard the information you want to display, and you're done!

Once installed, your employees no longer need to monitor price tags daily. A centralized system makes it easy for one person to control all pricing changes on the shop floor.

5.Payback is expectable

According to the display data, ESL returns are high. The company reported a typical 6% increase in in-store sales and a typical profit margin increase of 2% to 3%.

The return on the transition shelf label is also quick. One of DisplayData's customers, a large European retailer with more than 800 stores, has achieved a return on investment in just 16 months and predicts a return on investment of more than 170% over the next two years. If you zoom out to 5 years, retailers expect their ROI to increase by 400%.

Conclusion

If you pay attention to the future of you store or supermarket, you may need take ESL in consideration.