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Digital Smart Labels™ & return on investment

By December 1, 2022May 25th, 2023No Comments

electronic shelf labels in grocery store

As a business owner, remaining current and relevant in today’s ever-changing market is always top of mind. Evolving and pivoting your company’s strategy and capabilities can be challenging and as with any growth, change may appear daunting. While committing to expanding your company’s proficiencies is a big step, when implementing Danavation’s Digital Smart Labels™ you can be assured that the multi-level benefits will continue long after you’ve recouped the initial investment, which, depending on the application, is one to three years.

Danavation clients have shared time and again, the decision to proceed with equipping their company with Digital Smart Labels™ is viewed as an investment and not an expense. Simply stated, it is a cost-effective solution. The return on investment is positive as one of the many reasons to implement this technology is the benefit of eliminating the need for time-consuming in-store labour to update pricing. When you consider that the average cost/investment for a retail business to automate pricing for their entire store is $100,000+, understanding the return on investment is important. Digital Smart Labels™ are the first step to digital transformation leading to immediate and ongoing cost savings and a revenue-generating solution. Adopting the technology is essentially a turnkey solution to increased in-store efficiencies, as well as a modern, clean, and organized visual.

The idea of implementing Digital Smart Labels™ at North Fork True Value was exciting for Store Manager Jeff Wachenfeld and his team. Dealing with factors like margin erosion is a thing of the past for this True Value location. The company is thrilled with the inclusion of Digital Smart Labels™, and was delighted to share some highlights, gains, and the returns they have seen first-hand thanks to this technology. With such incredible efficiencies implemented, True Value will see a three-year return on investment. “It’s going to streamline the process of how we operate. And it’s inevitably going to make for a better shopping experience for the customer.” To find out more about True Value, click HERE.

Cataldi Fresh Market CFO Carlo Mancuso echoed the enthusiasm for Danavation’s Digital Smart Labels™ which are now a seamless part of both of their store locations. Having experienced the benefits in their first store, and the expedited return on investment, Cataldi CFO shared the following, “We saw the solution’s value in our first store; implementing digital price tags in our new store was a no-brainer. We immediately benefited from the system through a decrease in labour costs associated with pricing changes. In fact, pricing label changes are now decoupled from labour costs allowing the employees to focus on other tasks in the store. We were able to use our employees to help customers in the aisles instead of changing pricing.” Much like retail locations, the employee hours saved and redirected to other beneficial store tasks in grocery is substantial. “Our team is now focused on making the store look great, shelves full and taking care of our customers by assisting as they shop and check out.” To find out more about Cataldi Fresh Market, click HERE.

The team at Cook it was exploring ways to optimize the workflow of their busy operation; initially to reduce paper and optimize the time it took to organize the warehouse, ingredients, and shelves. The Digital Smart Label™ technology provided an immediate benefit by decreasing the labour required to manually change the paper labels on the shelves. “Immediately, the impact of removing paper labels was met with cheers of joy from the staff and management. Our approach to building meal kits was now being upgraded”, says Hugo Morin, Operations Manager at Cook it. With thousands of ingredients in the pantry, this solution allowed Cook it to better manage its inventory while increasing operational efficiency, reducing errors, and saving time. The company has seen an incredible 1.4-year return on investment. To find out more about Cook it, click HERE.

Additional features are unlocked when a company adopts Danavation Technologies’ Digital Smart Labels™ technology, including proprietary Stock2Lite™ and Pick2Lite™ platforms. Geared at improving in-store efficiencies and overall improved experiences, these platforms are a game-changer for business owners, and their staff, and can streamline and vastly improve accuracy and decrease labour costs when it comes to both picking from and re-stocking shelves. To find out more, click HERE.

Digital Smart Labels™ will transform your business. Reach out to one of Danavation’s knowledgeable sales team members today to find out how you can take your business to the next level.