Paper product labels have long been the de facto way to show pricing to consumers but the evolution of tech is changing that. Talking of innovative retail store solutions, digital shelf labels are an excellent way to transform your in-store experience. These labels use a liquid crystal paper display designed to show prices to the consumers in a retail store. They are controlled by a server making it easier to update prices and even display more info to convert consumers. Here are a few ways digital shelf labels can transform your retail store:
Improved customer satisfaction
The traditional paper price tags did not give much product information other than the selling price. However, digital shelf labels can spruce things up in your retail store and give your customers an exhilarating shopping experience. These digital price tags not only display the price but also indicate its origin. The vibrant colors also help customers identify the products they would like to purchase with ease.
Manage perishable goods better
If you don’t have a good grasp on the expiry date of your products, they might expire before you sell them. Digital shelf labels help you identify the sell-by date of your goods so that you know which items to sell first. You could also apply for discounts and promotions on goods that are less than 48hours from expiry to prevent you from incurring losses. You could also set your digital shelf labels to display the expiration dates so your customers will know they aren’t buying expired products, thus enhancing customer satisfaction.
Reduction of human error
Discrepancies in your prices can tarnish the image of your retail store and chase customers away. Imagine a scenario where a customer gets to the counter and has to pay more than the amount indicated on the price tag. Digital shelf labels such as SES-imagotag's digital price tags can help reduce human error by setting accurate prices that you can control remotely. Remember, human error costs money, particularly in terms of inventory shrinkage.
Optimization of inventory management
The success of your retail store depends on how you manage your inventory. You need to know when to restock products that have run out so that potential customers don’t walk out to shop at your rival retail store. Digital price tags help employees identify items that are running out, geolocate each label within the store, and promptly restock the shelves. Your customers will also see how many of the items are in stock, even though they are not on the shelves. For instance, a client could be planning a party and need numerous boxes of snacks such as popcorn and biscuits.
Ability to display discounts and promotions
People love to buy things for cheaper than they would have bought them originally. However, designing and replacing the price tags for promotions and clearance sales can be pretty tedious and time-consuming. Digital shelf labels can help you display discounted prices, promotions, and potential savings in real-time. These digital price tags are also an excellent marketing tool as they allow you to conduct cross-promotion of complementary products, therefore boosting sales within your retail shop.
Wrapping up
Digital shelf labels can give your retail store the much-needed competitive edge by ensuring your customers stay happy and satisfied. It is a worthy investment you can make for your retail business but remember to work with a vendor who can help deliver top-quality solutions to your business.
