The Advantages Of Using Electronic Shelf Labels

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The Advantages Of Using Electronic Shelf Labels
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When it comes to the things that you can do in
order to improve operations in your retail
business, one of the things that you should
consider doing is making use of electronic shelf
labels (ESLs). These price tags have a wide range
of benefits to retailers, but ultimately, their
greatest advantages include the ability to engage
in real-time dynamic in-store pricing as well as
the ability to build an omnichannel experience to
enhance customer loyalty.
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There are quite a number of advantages of
switching from paper tags to electronic shelf
labels. The first one is price optimization. With
the price optimization algorithms that ESLs
feature, you can adjust the prices of your
shoppers pay depending on supplier prices, buying
practices and more. You can make price changes
immediately based on the recommendations from
your big data system in order to boost revenue
and growth in your business.
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Another advantage of using electronic shelf
labels is price agility.  Price changes in the
retail industry are always time critical.
However, when you are using paper tags and have a
lot of products to update, it can prove
challenging or impossible to complete these task
effectively. When you start using ESLs, your team
can update price and promos on any number of
products in a matter of seconds.
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Last but not least, using ESLs can lead to
decreased inventory shrinkage. Paper tags can
fall off or be easily moved. Since electronic
shelf labels are affixed more securely to the
shelf edge, you do not have to worry about them
being moved. With these labels, you can easily
spot inventory stockouts and make sure that there
is better compliance to the planogram.  This
means that products can be discounted or replaced
before they expire, something that will help
reduce shrinkage and avoid customer complaints.