Digital smart labels, which can be updated remotely, are displayed under products in a store, replacing traditional paper labels. This eliminates the need for staff to manually change pricing so labour can be redirected to different in-store tasks, increasing productivity.
Not only does this cut the cost of printing paper labels, it also unlocks endless potential for dynamic pricing. Retailers are able to take advantage of specific times of day or current events to implement sales and promotions at the click of a button. This is especially useful with produce and other fresh foods which have a shorter shelf life.
Retail staff would need to manually change paper labels multiple times a day to capture potential deals and optimize sales; a monumental task without the use of digital smart labels.
Digital smart labels are equipped with NFC technology, meaning that each label is able to communicate with the customer’s smartphone and send coupons and deals, unlocking further sales potential.