How do Electronic Shelf Price Tags Work?
ESLtags work using electronic paper or liquid crystal paper to display information on a screen. Through a local network, electronic shelf price tags can easily update the prices whenever necessary.
With just a few clicks from a remote server, electronic shelf price tags can automatically update thousands of displays simultaneously across several channels. Paper labels or the tedious deploying of store staff to replace the price tags on every shelf manually won’t be necessary.
Price update is one of the electronic shelf price tags’ most substantial assets, making this display module an excellent solution for businesses that offer shopping in physical locations. Electronic shelf price tags allow for fast, accurate, and consistent manipulation of price and promotional strategies, making it beneficial for stores with several branches in varying locations. The business world is slowly recognizing the need for automated price management. According to “MarketsandMarket”.
“The electronic shelf price tag is predicted to grow to be worth $1,425 million by the year 2023″
Features of an Electronic Shelf Label
As mentioned in our previous article, 5 Reasons to Switch to Electronic Shelf Labels, retailers practically use ESL to display their products’ prices digitally. In addition, it is packed with more features!
Display More Information
ESL is not just about showing product prices. It acts as a guide to help customers decide which product to purchase. ESL can show more information besides the price. When customers at the supermarket want to know the difference between two milk brands, they can check the additional information displayed on the ESL, such as the nutritional facts, the price per weight, and remaining stocks. Being able to weigh these factors leads customers to which milk brand they will buy.
Change Product Prices in Real-time
ESL’s can implement dynamic pricing, which enables your store to adjust prices in real-time and stay profitable despite price fluctuations. Through dynamic pricing, you can increase the prices to capitalize on-demand, and you can also lower prices to increase sales and get the products moving. It also gives you data on customer behavior patterns by accurately displaying the price range customers are willing to pay for certain products. Customers can also benefit from this pricing method. When they purchase your products at the most competitive price, you increase customer satisfaction, which opens the opportunity for customer loyalty.
Reduce Operational Cost
With ESL, you can bid your goodbyes to those papers, printers, and ink. In an instant, you can update your product labels and allot more time on serving customers—you will see savings in labor and materials cost in the long run. Not to mention, ESL can support a store’s care for the community and environment.
Omni-channel Experience
Customers use various channels to look for items they want to buy. Retailers must be interactive in the most convenient way possible, switching between interaction methods to serve customers in different areas such as physical stores, websites, and mobile apps, allowing customers to reach out with problems or concerns by phone, email, webchat, and social media.
You can do the following interactions with your customers across all channels:
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Display stock levels – customers can know whether the supply is limited
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Display online prices of competition – get consumers’ trust when you say you have the best price
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Enable item ordering through QR codes
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Display reviews of products – show shoppers what others like about a product.
How can ESLtags help with digital price technology?
ESLtags are a US industry leader that has been continually developing new solutions, making several improvements in quality, and adding additional features to electronic shelf price tags. Our electronic price tags can do a lot more than a typical digital price tag. Our products provide vital features that elevate your shelf labeling system’s capabilities:
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Ten years of battery life – take advantage of Newton’s features for as long as a decade.
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Faster update speed – 8-10 times faster than other electronic price tags!
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Display more information – flip up to 7 pages to access more data about the product.
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LED colors – allows more possibility of heavy usage of LEDs.
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NFC capability – perform mobile payments.
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IP67 – even the tiniest dust particles won’t be able to penetrate it!
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Customizable design – incorporate your company’s colors, patterns, and logo.
