Electronic Shelf Labels Help Retail Industry Price Management Upgrade

 

As we all know, merchandise price is the most concerned element for shoppers to enter the retail scene for consumption experience, and it is also the important entrance for shoppers to carry out consumption. Price, as the label of merchandise value, becomes its actual advocate.

The shopper's concern for the merchandise is essentially the concern for the price. In the past, paper shlef labels in retail stores were subject to price errors and time-consuming and labor-intensive price changes. And the use of electronic shelf label, so that the retail industry price management more accurate, real-time and connectivity, for the retail industry price management upgrade to bring a change.

Accuracy

Electronic shelf labels ensure that the correct price and related information appears on the item. Price changes are automatically controlled through an interface in the ERP system, with special promotional prices introduced on an ad hoc basis and automatically reset at the end of the promotion.

In addition, consistent online and offline pricing is a key factor in the shopper's experience of a closed-loop shopping journey. Centralized management of prices creates data consistency between online stores, cash registers and shelves.

Real-time

Electronic shelf labels allow for flexible price adjustments of items in seconds through the ERP system. Electronic shelf labels significantly reduce the cost of updating prices, reducing the source of errors and alleviating the extra work of staff.

Moreover, in the event of a retail store promotion or temporary price change, the store can also change the price through the electronic shelf label in a timely manner without disrupting the work schedule. Price display eliminates the need for manual intervention, and with a dynamic pricing policy, you have the flexibility to optimize your marginal contribution and staff can gain time for each shopper.

Connectivity

For the retail industry, whether it is a single store, multiple stores, or cross-regional stores, the electronic shelf label system can realize instant remote price change, unified price management at headquarters, differential price management at branches, automatic synchronization of distribution and inventory as well as online and offline synchronization, allowing price management to achieve true intelligence. The synchronization of prices through, for the retail industry commodity management provides a strong data support.

From the electronic retail scene based on the electronic shelf label price management of the electronic, commercial closed-loop process of data, the final realization of the "apparent price, price change, pricing" data-driven, bringing data accumulation after the realization of intelligent pricing results, directly implicated in the completion of the intelligent upgrade of the physical retail business.