Knowledge

Are Digital Smart Labels™ Right For Your Business?

By August 6, 2020 No Comments

When talking about Digital Smart Labels™, you may think: “That would be great for my store, but I don’t think I can afford it.” In general, great technology comes at a price, and… well, that much is true. But before closing the door on this opportunity, keep reading to understand how we price our system – maybe digitally transforming your store is closer than you might think.

With most electronic shelf label providers, you’re required to pay a significant investment upfront. Depending on the size of your business and the amount of cash flow available to you – that might make or break your decision to buy. 

The way we price 

We believe that providing our customers with great products and services doesn’t have to come at a great cost. Our Platform as a Service model (PaaS) allows us to remove the capital expense conversation from the table, charging a lowered fee per month, which decreases the operating costs. 

Also, the modular design of our products makes them highly customizable, scalable and future proof – meaning that any subsequent software updates can be easily implemented. All the data is hosted in cloud elastic computing systems, which is not only safer, but also comes with a reduced monthly fee. 

The main benefit of the way we price is that you don’t have to worry about investing a large amount of money upfront. You can plan and organize your expenses for the future while enhancing your customer experience in the short term. 

Why go digital now?

There’s no denying that the new-normal will require the Digital Transformation of a majority of businesses. And it’s always essential to keep the big picture in mind when planning initiatives such as price automation, IoT, big data and analytics. Retail will always play an important role in human interaction, and in order to keep customers coming to your store, ensuring their safety and outstanding experience is paramount.

According to research from McKinsey and Co, when we look at younger generations such as GenZ, shopping is part of their social life – they live in such a digitized life, that going into the stores and touching products is crucial. Giving your store a modern look, while also keeping it clean and safe will have a tremendous impact on how this generation will perceive your business, especially because they put so much emphasis on experiences. 

In addition to keeping your store sharp, our IoT platform reduces labour requirements by deploying price and promo strategies instantly, maintaining price consistency across all your stores, as well as strengthening your omnichannel strategy. By digitizing your store and automating workflows, you unlock new income streams and, ultimately, increase profitability and dramatically improve store efficiency. With Digital Smart Labels, price updates are just scratching the surface of their potential. They can unlock big data and analytics, which enhance your market intelligence, help you to unveil buying habits and patterns, and optimize your stock replenishment. They also integrate with artificial intelligence and machine learning software, enabling you to price your products dynamically based on sales velocity, weather conditions, current events, stock levels, and the price elasticity of demand.

Does that sound too futuristic to you? Did you know that some of your competitors are already using this technology? Are you still going to stay behind? 

Reach out to us today and schedule a call with our team; we will evaluate your business structure and come up with the best pricing for you!