Picture this; you’re waiting in line to checkout at the grocery store. A customer is holding up the line because of a price dispute – the price they saw on the label is not the price appearing at the cash register. Unfortunately, this is a scene that we’re all too familiar with. But don’t despair, help is coming in the form of Digital Smart Labels™.
What exactly are Digital Smart Labels™? This new pricing solution replaces traditional paper labels with small e-paper screens that attach directly to the shelf edge. The labels are integrated directly into store management systems. This means that when the price of a product is updated, the price on the shelf changes at the exact moment the price changes at the cash register.
With paper labels, employees have to be dispatched to update the prices manually, which takes up a great deal of time. Time that could better be spent focusing on customers. In addition, manual price changes leave room for human error, leading to disputes and delays in the checkout lane. Not only is this inconvenient for both shoppers and employees, it also affects customer loyalty. Shoppers expect consistent and accurate pricing, and retailers who are unable to deliver may start to see their sales negatively impacted.
One of the main benefits to Digital Smart Labels™ is the amount of time and labour they save. Most grocery stores stock thousands, if not tens of thousands of products. Changing the price labels by hand is an ordeal that lasts several hours, at the very least. Digital Smart Labels™ simplify that process by enabling instant price updates. Retailers can even go one step further by scheduling price updates in advance.
The ability to update pricing on the fly is especially useful when implementing sales and promotions. This is particularly useful for increasing gross margin and reducing food waste. Additionally, retailers can instantly respond to competitor activities. Notice that a product is on sale at another grocery store? Put the same product on sale in your own stores immediately from wherever you are. Instant price updates also open up the opportunity to price products dynamically. Pricing technology allows retailers to price according to multiple factors such as time of day, weather, customer traffic, and so on.
In order to achieve all this, Digital Smart Labels™ utilize secure, wireless networking to communicate with the store’s price management system. E-paper technology extends the label’s battery life; only drawing power when the label is updated. This means that the battery is able to last up to 5 years with two price changes daily, and 10 years with one price change daily.
With Digital Smart Labels™, grocery retailers can ensure that they are offering their customers their best price, always. Grocery retail competition is at an all-time high, and customer loyalty is more valuable than ever before. It’s time for grocery retailers to ditch costly and time-consuming manual pricing and digitally transform their stores with Digital Smart Labels™.