Digital price tags are more than labels that show the prices. They have become effective, and their application has gained concept in retail stores for different reasons. The system has become more than an effective price changer. It helps cut down the cost of manual labor and manage stock. Today, even grocery stores have embraced this technology because of its efficiency. Retailers continue to include the system because of building profits and the value it delivers more than it did in past years. Let us look at why retailers are using digital price tags now more than ever.
How Are Retailers Edging In?
Retail stores are keen on the opportunities related to digital tags. These tags are connected by Internet of Things that provide real-time data from every shelf in the store. Apart from changing prices, the system is powered to communicate to customers about promotions.
Why Are Digital Price Tags Important?
Today, every business is searching for a way to make things more accessible and practical, precisely what digital price tags do. Here are reasons why retailers are turning to them.
Price Changes
The main advantage of tags is their ability to make price changes easy. Retailers spend a lot of money changing their prices manually, not to mention the labor included. Some make errors where they only leave sales on the table when they don’t have enough time or labor to make these changes quickly. The best thing about the digital system from SES-imagotag is that it ensures easy price change. Furthermore, it keeps the business on a competitive edge when it can change prices to match those close to the competitors.
Sustainability
Distributing dynamic screens may seem like a hassle and energy-consuming. Actually, it is more eco-friendly than you think. For instance, the screens use low voltage. Furthermore, they can run on renewable energy alternatives. It also eliminates the need for the enormous bright lights in stores that must be there for the customers to see the products and prices more. Therefore, digital tags are more sustainable than manual papers.
Better Inventory Management
The digital system also improves inventory management. Many retailers struggle with out-of-stock issues, sometimes because of poor management. Using digital tags is the ultimate solution to inventory management. The issue with out-of-stock products is that they lower customer satisfaction, and both the brand and store start losing sales. The system alerts when items are running low for proper replacement.
Reduced Waste
In addition to sustainability, the system also reduces waste. The store is able to strategically price perishable goods so that customers buy them more to avoid spoiling. It allows easy graduation of prices based on the inventory amount and sales velocity. According to research, retail stores lower their prices faster when products approach their expiry dates.
Summary
The shift to the digital era has made a lot of things convenient. Today, retail stores are reaping many benefits from digital price tags. Besides helping change the prices, the system also improves inventory management and reduces waste. Furthermore, stores no longer have to suffer from low on-shelf availability since the system alerts when an item is about to run out on the shelves.
