The Advantages Of Smart Price Tag Technology

1. The Advantages Of Smart Price Tag Technology

2. Many retailers nowadays are turning to smart price tags because they have a lot of advantages compared to paper tags. If implemented properly, the electronic shelf label technology can help you gain new efficiencies in your business by cutting down labor costs, managing stock, streamlining ecommerce and providing new ways to communicate with shoppers. It is something that you would wish you started using in your company earlier once you start experiencing the benefits that it provides.

3. Among the important benefits that you are going to get from smart price tag technology include personalization, dynamic pricing and loyalty. As a matter of fact, dynamic price adjustments lie at the heart of what all electronic shelf labels are all about. Say for instance you have a consumable inventory that needs to be sold, like fresh bananas  that will over-ripe in the next few days or electric heaters on the shelves as wintertime ends.  Using smart algorithms provided by ESLs, you can dynamically adjust the prices of your items in order to maximize margins while at the same time making sure that very little of your consumables remain unsold.

4. Not only will smart price tag technology provide better stock management, but it will also enable you to provide customers with targeted and personalized offers based on their scanning and buying history with those handy little price tags. The ESLs can make your loyalty and rewards programs more compelling. Due to the increased digital capabilities provide by the ESL technology, you will be able to attract younger, more tech-savvy consumers that are likely to shop online.  You will also have experiential stores whose focus is on the products where people prefer offline purchases with superb service levels and infused with advanced digital tools, all operating in harmony with your digital presence.