The advent of new technologies has prompted an increasing number of point-of-sales or network executives to look for ways to boost sales, enhance customer experiences and enhance the management of employees. The advent of electronic shelf labeling solutions available on the market provides new options to develop a successful growth strategy and customer satisfaction.
The latest electronic labeling options offer many advantages to store managers.
Here is an overview of the top 10 reasons to consider an electronic Shelf Labeling system to see if these solutions are the right choice for you.
Real-Time In-Store Display
A real-time display in the store will benefit not just the customer by providing accurate and secure information but also the point of sales managers. Management of price displays is a significant challenge for store managers.
Display control based on product type and shelf type (fresh produce, grocery clothes, toys, books, etc. ) or a unique product or promotion can be done online and is updated in real-time. This allows for complete price control and increases customer satisfaction with pricing accuracy.
The electronic display helps ensure conformity with production, labeling, and price accuracy guidelines depending on the product type. Prices are sent simultaneously to the cashier and labeling stations and are automatically updated. This is highly convenient since it could reduce compensation for consumers.
Information Control and Standardization
Information can be displayed to the client at any time and any place with the help of electronic labeling systems. Cloud control can communicate data to numerous branches and stores concurrently, alerting staff to any critical changes or new displays. It can also alter prices and presentation by component locations, point-of-sale incentives, and local price changes.
Centralized information and management of prices to sales channels is a crucial prerequisite for effective pricing and sales coordination at every place of purchase. The head office or manager of multiple stores could decide on their pricing and display policies and apply this across their entire network.
Display of Advertisements and Promotions
They control the price by item type or season: sales time and Christmas and stock clearances, flyers, discounts, and more. It is a crucial and lengthy task in-store display management.
Real-time displays of promotions, percentages of value, or savings potential for consumers allow margin control and promotional performance throughout the day. The point-of-sale supervisor can alter prices based on performance and efficiently guide customers to the most exciting items available.
The promotion of complementary products to the product chosen by the buyer can be organized based on the selected electronic labeling software. This management method allows for monitoring the many products that are still available and identifying the most successful products to ensure the purchase of items in advance.
Management of time, particularly employee time, is among the issues associated with the modernization of point-of-sale. With new sales methods like consignment, e-commerce rentals, or consignment, the amount of time needed for labeling and handling can be a significant issue for retailers. The longer management time can impact efficiency and profit since employees are more likely to be occupied with low-value tasks instead of helping improve customer satisfaction.
Integrating a POS with an electronic label management system can dramatically improve the store’s Return on Investment (ROI). However, it will be more effective when integrated into an existing sales network. Profits will be multiplied based on the size of the network by centralizing the management of points of sale through at least one master account.
Electronic labeling is a way to improve the traceability of products for managing rented products, re-selling, or even rental. It gives consumers access to the most critical information that they require:
The source of the item
Perishability, “Best before” date, or indication
Conditions and rates for the rental
Reconditioned or used item
Final sale indication
Information on the weight, size, and usage of this product
The Traceability display provides more satisfaction for the customer as it is equipped with all the information required to decide on their purchase. This increases store employees’ ability to attend to other related problems or duties.
Integrating with the POS management system enables the recording of traceability for each product, allowing customers to access any information they choose to use.
Customer Satisfaction and Customer Experience
Consumer engagement and retention are the most critical indicators of satisfaction with the customer. Making the store experience more pleasant for customers is among the essential elements of success for POS managers. An electronic display could play an important part in this. For instance, the customer can quickly see information about the product they’re looking to purchase, its cost, and its source and also discern (thanks to the color) the items being promoted.
The use of color or the appearance of photographs of the product offered by certain electronic label companies allows you to discern the cost of the item no matter the layout it is placed in the store.
Labeling provides a superior customer experience and reduces time looking for information or identifying “good bargains. “
Inventory management is essential in organizing the point of sale, whether physical or digital. But this doesn’t necessarily mean it’s an area that can’t be improved. For example, every label can be geolocated at the store’s point of sale, making it much easier for employees to replenish stock.
Electronic labeling has the additional benefit of displaying the number of products in stock, even though they’re not all accessible on the shelves. This is the situation in the case of most electronic items that can only be purchased through an encrypting process (such as the payment of the item in advance), such as televisions, games consoles, computers, and many more. Display and management of stock allow real-time inventory and control of supplies.
The expiration dates are often difficult to determine on the product, and electronic displays can assist customers in quickly finding the date of the product’s creation in the shop. This also allows the product manager to offer discounts on the products after the period of consumption and alter the price regularly. This allows, for example, the manager to automatically display a 50% discount on items less than 48 hours from the expiration date.
Display and automated management of dates for expiration, pricing, and discounts lead to more efficient inventory management and customer satisfaction.
In 2016 in France, the study showed an error rate of 8% between the amount paid by the buyer and the advertised price, with 51% of the cases, the price discrepancy was in favor of the buyer. This has led to numerous complaints from consumers who are unhappy and could damage a company’s image.
Automated labeling solutions will help reduce the chance of making mistakes with the display of shelves. The amount of employee manipulative actions can be drastically decreased since the labels are after installation, and the tags will be in position. Labels can slide across shelves and be changed remotely using an infrared or high-frequency link.
In conjunction with point-of-sale management software, an electronic labeling solution could be highly efficient as it will allow immediate control of supplier and inventory orders. Manual data entry and tracking can be streamlined, which reduces the possibility of errors by a significant amount.
If you are looking for the best Electronic inventory management software for your business, kindly contact to SWIL team. The team gives you details about RetailGraph software designed to enhance your business management and sale. You can also book your demo and free trial.