Shelf Labeling 101: How do Electronic Shelf Price Tags Work?

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Shelf Labeling 101 How do Electronic Shelf Price
Tags Work?

• Electronic shelf price tags can automatically
  update thousands of displays simultaneously
  across several channels.

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• Electronic Shelf Price Tags 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
  MarketsandMarkets, the electronic shelf price tag
  is predicted to grow to be worth 1,425 million
  by the year 2023.

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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.

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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.
• In case your supermarket runs out of milk, ESLs
  also show QR codes. Once customers scan your
  stores QR code, it will lead them to your app or
  website so they can order more stocks online.

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Change Product Prices in Real-time

• Manually changing your paper labels is
  time-consuming.
• ESLs 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.

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Reduce Operational Cost

• ROI is essential for any business, which ESLs
  don't miss to provide.
• You might think that using paper labels is way
  cheaper, but that's a thought you must
  reconsider. Paper labels require expenses for
  ink, printing equipment and require too much time
  to install new labels.
• Sounds too draining, right?
• 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 customersyou 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.
• As ESL eliminates paper labels, it reduces your
  carbon footprint, which helps you implement
  effective carbon management strategies to reduce
  your environmental impact.

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Optimize Inventory

• For years, optimizing the inventory on a granular
  level has always been a battle for
  retailersinventory automation came into the
  scene.
• Automating the inventory through ESL eliminates
  manual labor and improves your service level,
  ensuring that customers will receive the items
  they ordered on time.
• ESL can provide an accurate insight into your
  inventory and alert associates when products are
  low in stock or reaching expiration. From store
  associates to direct store delivery personnel,
  anyone can be notified by these alerts. The
  accurate insight also gives shorter lead times
  and lower costs and reduces unnecessary storage
  and handling.
• Automated inventory also allows for demand
  alignment and forecasting, reducing your
  stock-outs, improving your delivery, leading to
  more satisfied customers.

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Provide Omni-channel Experience

• With ESL, communication is made easy through
  omnichannel, which combines physical and online
  commerce.
• In this digital age, 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.

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• ESLs can help you do thatwith ease and speed.
  And you can do the following interactions with
  your customers across all channels
• Display stock levels customers can know whether
  the supply is limited
• Display online prices of competition get
  consumers' trust when you say you have the best
  price
• Enable item ordering through QR codes
• Display reviews of products show shoppers what
  others like about a product

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How Do SOLUM's Electronic Shelf Price Tags Work?

• SOLUM is an industry leader that has been
  continually developing new solutions, making
  several improvements in quality, and adding
  additional features to electronic shelf price
  tags. Thus, the latest innovative ESL solution to
  date was born Newton.

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• Our electronic price tags can do a lot more than
  a typical digital price tag. As our electronic
  shelf labels are now back-up by the all-new
  Newton system, our products provide vital
  features that elevate your shelf labeling
  system's capabilities
• Ten years of battery life take advantage of
  Newton's features for as long as a decade.
• Faster update speed 8-10 times faster than
  other electronic price tags!
• Display more information flip up to 7 pages to
  access more data about the product.
• 7 LED colors Newton's battery life allows more
  possibility of heavy usage of LEDs.
• Two programmable buttons allow for more
  efficient task execution.
• NFC capability perform mobile payments.
• IP67 even the tiniest dust particles won't be
  able to penetrate it!
• Customizable design incorporate your company's
  colors, patterns, and logo.

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• Newton has been taking over the retail universe,
  one store at a time. It is now being leveraged by
  our partners all over the world, redefining what
  it is that shelves can do for store owners and
  warehouse managers, and especially for customers.
  
• Limitless possibilities. That's the Newton
  promise.
• If you want to learn more about Newton, contact
  us today or visit us at www.solumesl.com.