The Benefits Of Digital Price Tags

Do you still make use of paper price tags in your business If you do, it is about time you started using digital price tags? The digital labeling system will make operations in your retail shop more efficient. Manually-driven processes such as updating and installation of price labels are susceptible to human error. Not only do they result in added inaccuracies in your inventories, but they also have a possible negative impact on the relationships you have with your customers and partners.

There are various ways that you can benefit from using the digital price tag system. First of all, these price tags can be used as data gathering and analysis applications. Advancements in digital labels give them a feature that goes beyond just being mere product labels or price tags. Electronic labels can be equipped with sensors that allow retail store managers and operations staff to monitor the temperature and humidity of particular sections in the facility, ensure accurate monitoring and management of inventories, big data analysis, and many other applications.

The digital price tags use wireless connectivity and intuitive systems that are effective enough to feature scheduling capabilities, such as updates in product and pricing information at predefined dates and times. With these price tags, you can update hundreds or even thousands of labels in a matter of seconds. You cannot imagine doing the same when you are still using a paper-based system. ESLs enable multiple updates on labels in real-time or on a scheduled basis.

First and foremost, electronic price tags can help with tracking customer movements and patterns. Movement sensors can be installed in electronic labels easily and at a relatively cheaper cost. These sensors can track all customer movement and traffic in your retail store and provide a virtual heat map of your retail area.

Digital price tags can also be used as information-pushing applications. In the retail environment, these labels can be a good advertising tool where consumers can get information on special promotions or discounts directly from the price tag itself. This can help increase revenue generation.

Understanding the traffic in your retail store can benefit you in several ways. It can help with product placement, aisle layout, promotional areas, and displays, and so on. Moreover, you can see how many people passed by certain products in your store without making a purchase. In case you have slow-moving products in a high traffic area, you can change the price or switch them out.
Another benefit of using electronic price tags in your business is that they will show more information than paper labels. More modern ESL technology displays more information on each label. You can show a whole lot more information than just the price of a product. Your electronic labels can also be used for displaying stock remaining, price per weight, nutritional facts, size as well as additional product information. You can add this information to the main label itself or you can print a QR which will be used for accessing additional information through your company’s app or website. For more information on the benefits of digital price tags, visit our website at SOLUM ESL