Learn more about the benefits of an electronic shelf labeling system!
The emergence of new technologies has prompted a growing number of point-of-sale and network managers to seek new ways to improve sales, enhance customer experience, and optimize employee management. The arrival of new electronic shelf labeling solutions on the market offers new possibilities for establishing an effective growth and customer satisfaction strategy.
10 benefits of an electronic shelf labeling management system:
The new hyperconnected electronic labelling solutions offer numerous benefits to both consumers and store managers. The following is a list of the top 10 reasons to choose a digital signage solution to determine whether these tools are right for you.
The real-time in-store display can benefit not only the consumer by providing secure and reliable information, but also point of sale managers. Price display management is a key challenge for any store manager. Display control by product type, shelf type (fresh produce, groceries, toys, clothing, books, etc.), unique product or promotion is done remotely and updated in real-time. This enables complete price control at all times and guarantees greater customer satisfaction regarding displayed price accuracy.
Electronic display can facilitate and speed up compliance with display, labeling and price accuracy rules based on the types of products offered. Prices are simultaneously sent to labels and to cashier stations, which are automatically updated. This is highly convenient as it can reduce consumer compensation.
Electronic labeling solutions can help manage the information displayed to the consumer in real-time and anywhere. Cloud control sends information to multiple branches and stores simultaneously and informs employees of any important changes or new displays (price changes). It can also be used to adjust prices and displays based on branch locations and local or point-of-sale specific price offers.
Centralized information and price management for sales networks is a key requirement for effective sales and price coordination in each point of sale. The head office or the manager of multiple stores can then determine their own pricing and display policy and apply it to their entire network.
Price control by item type or season: sales period, Christmas, stock clearance, flyer discounts, etc., is an important and time-consuming task in in-store display management. Real-time display of promotions, percentage of discount or potential savings for the consumer enables margin control and promotion performance at all times. The point-of-sale manager can adjust prices based on performance and more easily direct customers to interesting products still in stock.
Cross-promotion of complementary items to the products selected by the consumer can be set up depending on the type of electronic labeling solution chosen. This management enables the control of the large number of items still in stock and the identification of successful products to manage the procurement of orders in advance.
“Thanks to the SES-Imagotag electronic labels, brick and mortar stores can fully automatize their pricing policies. This reduces the risk of pricing errors to 0, all the while gaining complete control and flexibility over price changes and promotions. What would take days and even weeks in mega stores can be done in a few minutes with electronic labels.” (Source).
Time management, especially employee time, is one of the challenges of point-of-sale modernization. With the emergence of new sales models such as re-commerce, consignment or rental, the time required for handling and labelling can become a real issue for a store. Longer management times can quickly affect efficiency and profitability, as employees spend more time on low value-added tasks instead of contributing to customer satisfaction.
The integration of a POS management system with an electronic label management system can significantly improve a store’s Return On Investment (ROI) but would be even more powerful when integrated within a sales network. The profits would be multiplied according to the network’s size through the centralized management of points of sale by one or more master accounts.
Electronic labeling can help with product traceability, whether for managing rented items, re-commerce, or rental. It provides consumers with access to all the essential information they need on the display:
Traceability display gives more satisfaction to the customer who has all the information needed to choose their product. This also results in greater availability of in-store employees for other related issues or tasks.
Imagotag’s Vusion solution integrated with the Alice POS software enables the logging traceability of each product and thus allows the customer to benefit from all chosen information.
Consumer retention and engagement are key indicators of customer satisfaction. Improving the in-store customer experience is one of the key success factors for POS managers and electronic display can play an important role in this regard. For instance, the consumer can rapidly see information about the product they are considering for purchase, its price, and its origin; they can also better identify (thanks to colours) the promotional items.
Colourization or the presence of photos of the products offered by some electronic label suppliers makes it possible to clearly identify the price according to the product regardless of its layout on the shelf.
Labelling offers a truly enhanced customer experience and saves time when searching for information or identifying “good deals.”
Inventory management is a key task in the proper organization of a point of sale, be it physical or virtual. This does not necessarily mean, however, that it is a task that cannot be optimized. For instance, each label can be geolocated within the point of sale, making it easier for employees to restock items.
Electronic labeling also has the added benefit of showing consumers the number of items in stock, even if they are not all directly available on shelves. This is the case, for instance, for many electronic products that are only available after a secure procedure (such as paying for the product in advance): televisions, game consoles, computer equipment, etc. Stock management and display allow real-time inventory and stock control. (Source)
Expiration dates can sometimes be difficult to identify on a product. Electronic displays can help the consumer directly identify the sell-by date of the product in the store. It also enables the product manager to directly apply discounts on products at the end of the consumption period and to automatically change the price. This allows, for instance, the manager to choose to automate the display of 50% discounts for items that are 48 hours away from the expiration date.
The display and automation of expiration dates, prices and discounts result in better inventory management and greater customer satisfaction.
In 2016, in France, a study revealed an 8% error rate between the price paid by the consumer and the displayed price and in 51% of cases the price difference was in favour of the consumer. These discrepancies have led to numerous complaints from dissatisfied consumers and may lead to a brand’s image being tarnished.
An automated labelling solution can assist in reducing the number of errors in the physical display of labels on shelves. The number of employee manipulations can therefore be significantly reduced, given that, once in place, labels can slide on their shelves and are automatically updated remotely via an infrared or high or low-frequency connection.
Combined with a point of sale management solution, an electronic labelling solution can become very efficient since it would allow instant management of inventory and supplier orders. All manual data entry and control is thereby limited, reducing the risk of errors considerably.
Thanks to my point of sale management solution, each employee has a user account tailored to their tasks and responsibilities. The employees in charge of updating the labels can then be carefully chosen.
The Return On Investment for this kind of solution is, on average, 12 to 18 months. The cost of an electronic labeling solution is calculated following the individual customer’s needs. It is a fully customized service calculated according to:
-Alice