New technology has led point-of-sale executives and network administrators to look for new ways to increase sales, improve customer satisfaction and optimize the management of employees. New electronic shelf labeling options on the market offer new opportunities for creating a customer-focused growth strategy.

Benefits of utilizing Electronic Shelf Labels

Here are some benefitsof using Electronic Shelf Labels:

Real-Time Display

The real-time in-store display is beneficial not only to the customer by providing secure and reliable information, but also point of sale managers. Price display management is an essential concern for any store manager. Control of display by type of product and shelf type, or a specific product or promotion is done via remote and updates in real-time. This allows complete price control and ensures greater customer satisfaction in regards to the accuracy of displayed prices.

Information Control and Standardization

Digital Tags can help manage the information presented to consumers at any time and from anywhere. Cloud control sends data to several branches at once and alerts employees of any price change (price adjustments). It is able to change prices or displays in accordance with branch locations, local or particular price discounts.

Advertising and promotion display

Price control by item type or season, such as sales period or Christmas time, stock clearance, flyer discounts, is an essential and lengthy task in store display management. The ability to show promotions in real-time, as as the percentage discount or savings that are accessible to consumers, permits the control of margins and monitoring performance. Point-of-sale managers can adjust prices based upon the performance of their customers and direct them to products relevant to their needs that are in stock.

Time-Saving

Modernization of the point of sale has meant that time management is a major issue, particularly for employees. The time required to label and handle the new sales models such as consignment, recommerce, or rental is a concern for retailers. Longer management times can quickly reduce efficiency and profit, as employees spend more time on low jobs that are not helping to improve customer satisfaction.

Traceability

Electronic labeling is a way to track product information regardless of whether it's for rental, re-commerce or rental. The labeling system gives customers access to all the necessary information they require displayed on the screen. Customers with all the information they require to make a purchase are more satisfied by the traceability displays. This allows employees to be available in-store to assist with any other questions or other tasks.

Customer Satisfaction and Experience

Engagement and retention of customers are the most important indicators of satisfaction of customers. POS managers need to improve the customer experience in-store. Electronic display can help in this direction. For instance, the customer is able to quickly see information regarding the item they are looking at for purchase, its price and where it came from; they can also better discern (thanks to the colors) the items that are being promoted.

Inventory Management

Management of inventory is a crucial aspect of the proper organization of the point of sale be it virtual or physical. This does not necessarily mean, however, that it's a job which cannot be improved. For instance, each label can be geolocated within the point of sale, making it easier for employees to replenish stock.

Management of Perishability

Sometimes, it's difficult to find the expiration date on products. Consumers can easily identify the date of expiration directly within the store using electronic displays. Product managers can use electronic displays to apply discounts to items prior to the time of expiration and then automatically adjust the price. For example, the manager may decide to show 50% off products which are less than 48 hours away from expiration.