Currently, retailers are facing many challenges, especially during the pandemic. They are committed to increasing sales volume through pricing changes and promotions, and improving profitability by increasing operational efficiency.
Electronic shelf label is one of the most fundamental digital application tools for changing pricing, updating information, and managing merchandise. More and more retailers are realizing the importance of improving operational efficiency and digitizing merchandise management through electronic shelf label technology. Therefore what are the ways for electronic shelf labels to enhance store operational efficiency?
Automatic Price Change for Improved Efficiency
Electronic shelf labels enable rapid price changes for dynamic pricing and real-time promotions. They replace the time-consuming and labor-intensive traditional paper shelf labels and enable automatic price changes. The electronic shelf labels can change prices with one click in-store/remote price change, uniform price change in chain stores, and synchronized price update across channels. This convenient operation saves clerks' working time and facilitates the unified management of headquarters, reducing work loopholes and improving work and operational efficiency.
Information Synchronization, Optimize the Commodity Management Process
The information synchronization function facilitates the synchronization of online and offline activities and frequent promotions; the electronic shelf label can realize remote management backstage one-key price change and shelf label synchronization refresh. Store clerks do not need to go to the store to update the shelf label. The information synchronization function helps stores optimize the operation process of self-service purchase and unmanned purchase. Therefore, the electronic shelf label optimizes the merchandise management process of retail stores.
Inventory Management to Adjust Sales Strategies
Electronic shelf labels display the inventory levels of items in real time. The replenishment and stocking process guided by electronic shelf labels not only improves efficiency but also reduces errors. Once the stock level falls below the safety line, the shelf label flashes a light and the store staff can quickly replenish the stock. Electronic shelf labels provide the foundation for digital merchandise management. With a clear understanding of merchandise sales data, retail stores can optimize their merchandise mix, improve merchandise turnover, and also dynamically adjust their sales strategies.
Positioning Functions to Maximize Shelf Benefits
Generally speaking, a limited number of locations on retail store shelves have huge sales potential. Sales of the same item in a prime location versus an ordinary location can differ by more than six times. Positioning shelf labels can operate prime shelf locations through positioning technology to achieve Headquarters' display plan and to maximize remote shelf management and benefits.
BOWTZ is a leading global provider of electronic shelf label solutions. BOWTZ electronic shelf label solutions enable retail stores to automate product price changes, synchronize online and offline information, digitize inventory management and ease product location management. We rely on IoT technology to reduce system costs and make retail businesses more competitive in the market.
If you have more questions about how electronic shelf labels can enhance store operational efficiency, you can also contact BOWTZ today for inquiries!